EDIT: THIS ARTICLE IS NOW OBSOLETE DUE TO THE MIGRATION OF $MAXX BSC/ETH TOKENS TO MAXXCHAIN
After careful deliberation among our team and developers, we’ve reached the following decisions concerning our trio of $MAXX tokens and the upcoming launch of MaxxBridge:
- Instead of implementing a burn/mint function for cross-chain tokens, we’ve opted to directly supply tokens to the bridge. This approach ensures enhanced security for our $MAXX tokens.
- We have not yet initiated any token burns from the MaxxChain supply. This was done deliberately to guarantee an ample allocation of tokens for the bridge. However, our plan involves burning 430M $MAXX on MaxxChain within the next 24 hours leaving 500M tokens available for the bridge.
- We will closely monitor the bridge supplies across all three chains, and as supply stabilizes, gradual burns will be implemented on the MaxxChain side to slowly match the other two chains.
- All three $MAXX tokens will be available on the MaxxBridge within the next 7–14 days, subsequent to the deployment of the PWRSource bridge by BlockBlend.
- When evaluating arbitrage opportunities, it is crucial to consider not only market cap but also liquidity pool sizes for each supply, token prices on individual chains, and the implications of buy/sell/bridge taxes.
- For those seeking clarification on arbitrage mechanisms and their application to tokens on either chain, I’ll create a detailed write-up accessible through our Medium and Knowledge Base platforms before deployment.
