Revisiting the OXS Token, Migration and Rebranding
Last updated
Last updated
TLDR - OXS will be migrating into Polygon and Rebranded as KWAI Labs. - 10% APR staking will be made available. - Oxbull team will be using the existing tokens from Team, Development and Marketing allocations to fund the new Staking Pool Reward, which will last for min. 2 years. - 1% Tax for all Buy/Sell transactions, to be utilized for operation fund.
For more details, Read on:
Oxbull has ventured into the Solana network for a while now, and while it’s been great, it’s no secret that the team and other like-minded projects have been running into hurdles after hurdles that are specific to Solana.
For the most part, the inconsistency of RPC nodes alone makes things difficult for wallet management and monitoring. In addition to that, there’s a lot of dedicated development and maintenance resources required in ensuring compatibility with Solana.
In the tireless pursuit of compatibility, reliability of the network itself is also a force to be reckon with. It also apparent that the community agrees that the Solana experience hasn’t been the best so far. Furthermore, with FTX having a certain level of connection with Solana does not make things any easier to digest for our community members. At Oxbull, we pride ourselves for listening to the community and it’s become clear that community members are losing trust in the network by the day.
The team has collectively decided to migrate OXS onto the Polygon network. With the team’s experience in IDOs and projects on the Polygon space (who remembers the all mighty BLOKTOPIA that did a monster x700?), the network is much more suited and known for its stability, speed, high level of adoption and public exposure. Additionally, with the recent wide adoption of Polygon by big brands like Nike, Instagram and Gucci, we are optimistic of the (potentially billions of new) users adopting the blockchain network.
The Oxbull team is really excited about this move because it means that all the tokens you’ve been holding onto will be backed by an even stronger network — which means they’ll eventually have even more value!
The OXS tokens will be migrated onto the Polygon network under a new brand, KWAI.
What’s KWAI? We’re glad you asked!
KWAI is our very own AI-powered Smart Assistant, which has been developed as a friendly helper as it is a well known fact that WEB3 in it’s current form and factor, is still not the most beginner nor user intuitive environment. The team was captivated by ChatGPT and how the AI is capable of providing human-like, logical responses to almost any prompts thrown at it. However, even with ChatGPT, there’s still a gaping vacancy when it comes to blockchain navigating guidance.
KWAI was envisioned with the chinese character “快”, which translates to “Fast”, and associate with “AI”. How KWAI came to be, started with a simple sentence: “Quick, help me get some Bitcoins”, and the idea for a clever little AI assistant manifested itself.
KWAI, at it’s current stage, has been designed to accurately help users in spot-swapping with just a chat prompt. BETA Version of the Chatting feature is currently being developed and will be releasing in due course. Here’s what to expect in the near future!
The OXS Launchpad structure is currently being reviewed for adoption in the Polygon network. KWAI will be the native token utilized on the platform in a similar fashion as OXS. More information on KWAI Labs tiering information and IDO qualification to be released soon.
At this juncture, being a KWAI token holder enables users exclusive access to our staking pool, with an APR of 10%. With more development and features around the corner, we encourage you to join our Telegram group and follow us on Twitter to stay up-to-date on the latest developments.
Website: https://kwailabs.com Twitter: https://twitter.com/kwai_labs Telegram: https://t.me/kwai_labs Telegram(announcement): https://t.me/kwai_labs_announcement Medium: https://kwailabs.medium.com/
Total supply: 50,000,000 KWAI:
25 Million Circulation/ Holders
5.0 Million Staking pool reward allocation
3 Million Liquidity for Uniswap v3
7 Million Liquidity for potential listing
5 Million Partnership/Marketing
2.5 Million Team Token
2.5 Million To be burned
1% Tax for all Buy/Sell transactions, to be utilized for operation fund.
In addition to the above, to provide assurance to the community that there will never be a risk of team dumping the coins, the Oxbull team will also be repurposing the team tokens, development and marketing allocations to fund the Staking Pool Rewards for at least 2 years. In exchange, the team will continue to develop and run the platform via the operational fund incurred from the Buy & Sell Tax.
