Day 1: A new dawn, A new Base

6 min readDec 23, 2024

TL;DR

1. Oxbull and KWAI Labs are merging into one unified ecosystem, migrating to the Base chain and adopting the new token ticker $OXI.
2. For $OXB holders: staked $OXB remain auto-staked and auto-converted to $OXI.
3. For $KWAI holders: $KWAI tokens are converted to $OXI at equivalent value.
4. For $KWAI NFT holders: KWAI TQ NFTs are converted to $OXI based on the floor price.
5. Tier status shall remain unchanged as long as the tokens remains staked.
For more details, Read on:

Since Oxbull’s inception in February 2021, the team has been consistently involved in pushing the envelop of blockchain innovation and living the motto: charging the future of blockchain, bringing groundbreaking projects into the space and gradually establishing ourselves as the #1 ranked Launchpad and IDO platform in both current ROI and ATH ROI, with a tiering system that everyone can participate.

KWAI Labs emerged from the same visionary blueprint. Launched in December 2022 — well before AI captured the public imagination — KWAI Labs represented our forray into AI and the Web3 ecosystem. The team has successfully developed an array of innovative products, from AI-powered chat assistants to sophisticated Telegram-based trading and research bots. Simultaneously, KWAI Labs served as a strategic launchpad, co-launching projects alongside Oxbull.

Now, two years since KWAI Labs’ launch, marks a pivotal moment. With the technological landscape transformed dramatically: where cryptocurrency has evolved beyond its cypherpunk origins and where ETFs, strategic reserves, and emerging national policies are reshaping public perception. AI has transcended novelty to become an indispensable daily technology. Platforms like ChatGPT and Perplexity have become essential tools for countless professionals and young minds alike.

Whilst the team celebrates these milestones as manifestations of the future long envisioned, in order to remain at the forefront of these rapid external changes, the team also recognizes the imperative to evolve together with the times.

The Oxbull needs acceleration, the Oxbull needs focus.

To achieve greater focus and synergy, the team has made an important decision:

Oxbull and KWAI Labs shall be merging into one unified ecosystem and migrating to Base, where Oxbull will be adopting a new token ticker: $OXI.

Why Merge?

This strategic convergence will grant us focus on three critical levels:

1. Development

The team can now concentrate on building and releasing products through a singular, cohesive channel, eliminating fragmented approaches. With AI’s permanent integration into technology, there is no longer the need to isolate AI-related products. The world now expects technological intelligence everywhere.

2. Operation

Running Oxbull and KWAI Labs in parallel created significant administrative overhead — duplicated resource allocation, fragmented communication channels, and redundant strategic planning. By unifying the two ecosystem, these inefficiencies can be eliminated, resulting in a much more synergized and unified approach.

3. Community

Merging Oxbull and KWAI Labs transcends mere combination — it’s creating a more powerful, interconnected network of innovators. The unified community will benefit from broader knowledge sharing, diverse perspectives, and enhanced collaboration, amplifying Oxbull’s collective voice and accelerating the journey towards even greater technological innovation and advancement.

Why Migrate?

Oxbull is migrating to Base network, an Ethereum L2 solution renowned for its speed and cost-effectiveness. In numerous aspects, Base resonates with the team’s core belief: bringing more people on-chain, while fostering relentless innovation.

What Does This Mean for You?

For Oxbull holders

You don’t need to do anything. Seriously, nothing at all.
Staked $OXB: If you have staked $OXB tokens, $OXI remain auto-staked and auto-converted.
Wallet $OXB: $OXI tokens shall be airdropped to your wallet at a 1:1 ratio.

For KWAI Holders

Your $KWAI tokens will be converted to $OXI, ensuring the value remains the same.

Token Conversion Calculation

Example: 20,000 $KWAI = 1,180.2 USD (price snapshot taken at 23 Dec 2024, 0739 UTC), which equals 2,223.37 $OXB.
You will receive 2,223.37 $OXI, maintaining the overall equivalent value of your KWAI holdings.

Staked $KWAI: If you had staked $KWAI tokens, they’ve been automatically converted, migrated, and auto-staked on the Oxbull staking page. The conversion follows the same exchange logic as above.
Simply connect the same wallet you used for KWAI staking on the Oxbull staking page to view your staked tokens.
Wallet $KWAI: For $KWAI tokens held in your wallet, equivalent $OXI tokens shall be airdropped directly to your wallet.

For Kwai NFT Holders

NFT Conversion Calculation

Your KWAI TQ NFTs have been converted to $OXI based on their floor price:

KWAI Tier 1 NFT: 3.9 BNB
KWAI Tier 2 NFT: 1.95 BNB
KWAI Tier 3 NFT: 0.39 BNB

All KWAI TQ NFTs will be automatically converted, migrated, and auto-staked on the Oxbull staking page.

To view your staked tokens, connect the same wallet you used for KWAI NFTs on the Oxbull staking page.

What Happens to My Tier?

Your tier status shall remain unchanged as long as the tokens remains staked, even if the overall value of your migrated tokens is lower than the current Oxbull Tier System requirements. For example:

Currently, Tier 1 on Oxbull requires 8,000 $OXI staked.
If you migrated from KWAI Tier 1 and were auto-staked with 2,000 $OXI (based on the conversion calculation mentioned above), your Tier 1 status remains unchanged.

However, it’s important to note:

If you unstake, your tier status will be lost.
If you decide to restake, your new tier will be recalculated based on the current Oxbull Tier System requirements (e.g., 8,000 $OXI for Tier 1).

This means that after unstaking, 2,000 $OXI will no longer qualify for Tier 1, as the system will adhere to the updated staking requirements. This applies whether you earned your tier through staking KWAI or by holding a KWAI TQ NFT previously.

For OXS Holders who have yet to migrate your tokens:

1. Relax.
2. Visit https://v2.oxbull.tech/app/oxs-migrate.
3. Connect your Solana wallet to the migration page.
4. Provide your Base wallet address by connecting your wallet to the site.
5. Click “Migrate” and approve the necessary transactions via your wallet.
6. Your OXS tokens should now be successfully migrated to $OXI in your Base wallet!

For OXB v1 Holders who have yet to upgrade your tokens:

1. Relax.
2. Visit https://oxbull.tech/app/account.
3. Connect your wallet and link Telegram.
4. You should see a prompt to upgrade your OXB v1 tokens.
5. Click “Upgrade” and approve the necessary transactions via your wallet.
6. Your OXB tokens should now be successfully upgraded to $OXI, and autostaked in Oxbull staking page.

A Few Important Updates

Unstaking Period: Reduced from 30 days to 15 days.
Private Sale Pass: This feature is discontinued. Tokens previously staked for Private Sale Pass are now part of the regular staking system.
Staking APR: The staking APR has been revised to 2.5%.

$OXI Tokenomics

Total Supply: 12,345,678 OXI

Circulating Supply (owned by Oxbull and Kwai holders) : 92.75%
Uniswap Liquidity : 4.25%
Team Token: 3%

Oxbull Tier System

Join Oxbull Socials

To ensure you don’t miss any updates, make sure you follow our socials:

X (Twitter): https://x.com/Oxbull5
Telegram (channel): https://t.me/oxbull_tech_announcement
Telegram (group chat): https://t.me/oxbull_tech

It’s Always Day 1

We extend our deepest gratitude to everyone who has walk the journey with us, with every “GM” reminding us that we are not alone in this mission.

Not every one of our 1,401 days has been a good day, but we build even in bad day: for everyday is Day 1.

Finally,
Welcome to Oxbull, today is Day 1.