MaxxChain Updates — Sept 9, 2024

Some major updates regarding the direction of MaxxChain and PWR coin

Below is a summary of the news provided during our X Spaces update for MaxxChain, PWR coin and Maxx Capital Solutions. You can listen to the recording here: https://twitter.com/i/spaces/1yNGagldPzvxj

Deployment of Maxx Capital Solutions MVP

MVP Launch: Preparations are underway to launch the MVP for Maxx Capital Solutions and the pilot program — final public testing to begin with trucker onboarding and legal preparations are underway

Base Chain Selection: Decision to deploy smart contracts for the Web3 side of the truckers’ platform on Base chain.

Reasons for Choosing Base Chain

• Emerging Chain: Base is popular among projects tied to real-world assets.
• Low Fees: Allows cost-effective minting and deployment of smart contracts for truckers’ invoices.
• Stablecoin Liquidity: Base has a large following and significant stablecoin liquidity, which is crucial for growth.
• Coinbase Ecosystem: Truckers will use Coinbase as their platform to receive payments, making Base chain a good fit for our entire ecosystem.
• Future Collaboration: Deployment on Base chain helps the possibility of future collaboration with Coinbase.

wPWR Migration from ETH to Base Chain

• To continue with this trend, Wrapped PWR token (wPWR) will migrate from Ethereum to Base chain.
• Base offers lower fees and larger liquidity, beneficial for scaling Maxx Capital Solutions.
• A 1:1 airdrop will be provided to holders of wPWR on Ethereum — Users will have nothing to do except add the contract wallet on base to their defi wallet.
• MaxxChain users will be able to use the Wizard Bridge to move tokens between MaxxChain and Base.
• We will advise WHEN the snapshot will be taking place and then proceed to move LP from ETH to BASE
• 5% tax on buys and sells, with 3% going to PowerDrip rewards in wPWR, 1% to PowerNFT owners in USDC, and 1% to a dev/marketing wallet
• Bridge will incur a 5% tax on both sides — 1% for bridge fees, 1% for PowerNFT owners, and 3% for PowerDrip rewards. This ensures fairness and consistency for those locking their tokens for continuous rewards.

Launch of PowerDapp on Base

A new all-in-one dApp will launch on Base, including PowerDrip and PowerNFT platforms.

Development Screenshots of the PowerDapp on Base

PowerDrip: Allows users to lock wPWR and earn rewards based on token volume from both Base and the Wizard Bridge.

PowerNFT: NFT owners can claim USDC rewards from token taxes on Base and Wizard Bridge; new NFTs will start at $750 USD with a supply of 300. and include 50,000 wPWR locked in the drip platform forever.

• See note at the end of this article for a detailed explaination of Current and Future NFTs

Lotto Maxx: The Lotto Maxx platform will be integrated with wPWR on Base.

• Users can purchase tickets using ETH on Base, and the proceeds will be used to purchase wPWR and fund a periodic prize pool, driving wPWR volume and rewards.

Future Vision for wPWR on Base

• Goal is to develop a marketplace where wPWR users can provide USDC to fund trucker invoices in exchange for profit share.
• Also to build a governance system for wPWR on Base, giving users more control over the ecosystem.

Management and Growth of MaxxChain

• Ger from SafuMaxx will be given management of MaxxChain to promote the chain, its projects, and utilities.
• The current team remains focused on connecting real-world assets (RWAs) to MaxxChain through Maxx Capital Solutions.

Other Big Updates

BlocSpace Integration

• Introduced to BlocSpace, a project with an interesting concept that could be a valuable addition to MaxxChain.
• BlocSpace offers a unique cross-chain NFT platform that enables promotion, sharing, and earning rewards.
• MaxxChain aims to integrate with BlocSpace’s cross-chain ecosystem.
• Ongoing communication with BlocSpace team; collaboration with Ger to brainstorm and explore integration.

Orderbook DEX Integration

• Previously introduced orderbook DEX in testnet to our users, however integration with MaxxChain was not feasible initially
• Integration would enable token listings and shared liquidity across multiple chains.
• Challenges with integration have been identified, but new opportunities to integrate are now possible. Ger will work with the team to push this forward.
• Successful integration could offer significant cross-chain functionality for users.

Collaborative Efforts

• After a recent conversation with Larry, CSO of HashAI, an early-stage agreement has been reached for HashAI to conduct the audit for Maxx Capital Solutions’ MVP.
• Larry’s expertise in crypto and security has contributed to HashAI’s success, and he’s excited to support MaxxChain’s growth.
• Discussions included collaborations to boost MaxxChain, leveraging project connections and mining farms.
• Larry brought up new ideas that align with MaxxChain’s goal of being an educational, community-serving blockchain, with a potential focus on bridging the gap for mass adoption.

Early Conversations with Coinbase Canada

• Maxx Capital Solutions had a 30-minute call with Lucas Matheson, CEO of Canadian Operations for Coinbase.
• The meeting was facilitated by marketing partners and the Futurist Blockchain event.
• Early-stage discussions focused on how to grow and excel the Maxx Capital Solutions product and business.
• Note that these are early conversations aimed at gaining advice and raising awareness, with no immediate commitments.

Next Steps

• Snapshot for wPWR migration will be announced soon, with the migration to Base expected in the next week or two.
• An AMA session will be planned for further discussions and questions.

Clarification on Profit Pass NFTs on Ethereum and PowerNFTs on Base

Right now, the Profit Pass NFT collection is still available to mint on Ethereum. As of now, 78 NFTs have already been minted and the owners of these 78 NFT’s will be airdropped a new NFT (PowerNFT) on Base.

As of 14:00 EST on September 9th, any new NFTs minted on Ethereum will have rewards determined by Ger and his team, who will provide more details on this direction soon.

Going forward, when the new PowerNFT collection is launched on Base, owners will earn rewards from three sources:

1. USDC from wPWR token volume on Base,
2. wPWR from the volume on the MaxxChain/Base bridge.
3. wPWR from an implied value of 50,000 wPWR locked in the PowerDrip platform, generating ongoing rewards (the locked wPWR cannot be unlocked)

Of the 300 that will be created, as mentioned above, 78 will be airdropped to curent Profit Pass NFT holders (so they will have two NFT’s). This leaves 22 PowerNFTs that will be on sale for the initial price of $750 once they go on sale.

After these are sold, the price will increase by $250 for every 50 mints (so $1,000 for NFT #101, $1,250 for NFT #151 etc), reaching up to $1,750 for the last 50 NFTs.

To honor any Profit Pass NFTs minted on Ethereum before the 14:00EST deadline, owners will receive a 1:1 airdrop of the new PowerNFT on Base for each Profit Pass they own. They will also keep the original Pass on Ethereum, along with any rewards provided by Ger and his team. As a bonus, these holders will receive an implied value of 100,000 wPWR locked in the PowerDrip platform to earn wPWR rewards, instead of the standard 50,000 wPWR