PAWchain: from MEME to DEFI
Sarah Rodriguez • 24 Jan 2024
History and the Goals of PAWchain
$PAW, an ERC-20 token, was launched on January 16, 2023, introducing a new player in crypto. The project was initiated with the aim of creating a secure and user-friendly ecosystem for investors and traders. Security was a primary focus during the launch, evidenced by the immediate burning of liquidity tokens and the allocation of 35% of the supply to Time Locked wallets for marketing and utility development.
The team behind $PAW, consisting of developers and blockchain experts, sought to address certain challenges in the cryptocurrency space. They envisioned PAWchain as a Decentralized Exchange (DEX) and community ecosystem, built on blockchain. The project aimed to reduce dependence on Centralized Exchanges (CEX) by promoting decentralization, modern security practices, and self-custody.
PAWchain's white paper outlines its purpose as a platform that seeks to resolve the absence of user-friendly and comprehensive tools in the cryptocurrency, Decentralized Finance (DeFi), and Web3 sectors. By offering a secure DEX platform, PAWchain proposes to enhance community engagement and facilitate broader global adoption of these technologies.
The PAWchain ecosystem is designed to provide users with financial tools for efficient and secure token transactions. It also emphasizes the role of a Decentralized Autonomous Organization (DAO) in managing the community-driven aspects of the platform. The white paper, which details the ecosystem's components, technical architecture, token economics, and development roadmap, is intended to evolve as the platform grows and new features are added.
Tokenomics
Utility of PAW Token
The native PAW token is a fundamental component of the PAW Swap ecosystem, serving several critical roles. It’s designed not just as a medium of exchange within the platform but also as a tool for empowering its users.
- Rewards: Token ownership is incentivized with rewards, encouraging active participation within the ecosystem.
- Discounts: Users holding PAW tokens may receive discounts on transaction fees or other services within the platform, adding tangible value to token ownership.
- Governance Rights: In line with the decentralized ethos of PAWchain, PAW token holders are granted governance rights. This allows them to have a say in the development and decision-making processes of the ecosystem, fostering a truly community-driven environment.
Token Distribution
The stealth launch of SPAW, no pre-launch promotion, no airdrops, and no insider pre-knowledge. This approach ensured a fair and unbiased distribution, with no preferential treatment or early access advantages.
Team Finance
Transparency is paramount in the PAWchain philosophy. To align with this value, the team utilized a third-party smart contract locking toolkit named Tear Finance for several lock events. These events, integral to the security and trust-building of the project, involve locking away tokens for predetermined periods.
The locking schedule for $PAW tokens is outlined as follows:
- Date Locked: January 16, 2023
- Amount: 122.5 trillion SPAW
- Unlock Date: January 16, 2024
- Date Locked: January 16, 2023
- Amount: 82.8 trillion SPAW
- Unlock Date: July 15, 2023
- Date Locked: January 16, 2023
- Amount: 38 trillion SPAW
- Unlock Date: April 22, 2023
- Date Locked: January 16, 2023
- Amount: 38 trillion SPAW
- Unlock Date: January 30, 2023
Ecosystem
In less than a year since its inception, PAWchain has successfully launched an array of utilities, all of which have either undergone an audit or are in line to be audited by CertiK. This demonstrates the team's commitment to developing reliable and secure solutions within the blockchain space. The range of utilities developed by PAWchain includes:
- PAW Staking
- PAW DAO
- PAW Aggregator
- PAW Hub
- PAW Merchant
- PAW Website
- PAW Chain Alpha
These utilities collectively enhance the PAWchain ecosystem, catering to a wide range of functionalities such as off-chain peer-to-peer trading, cross-chain transactions, passive income generation, and active participation in project governance. Designed to be intuitive and user-friendly, these tools aim to simplify the user experience while engaging in various blockchain activities.
To ensure users can maximize the benefits of these tools, PAWchain offers comprehensive guides and support. This assistance is part of their commitment to making blockchain technology accessible and understandable to a broader audience.
For more detailed information about utilities or to review the PAWchain Whitepaper, visit the PAWchain Official Website.
Rebranding
Originally launched as a meme-token, $PAW underwent a significant evolution, transitioning into a notable player in the decentralized finance (DeFi) sector. This transformation was catalyzed by the release and development of various innovative utilities under the PAWchain umbrella.
As the platform expanded its offerings and its role within the DeFi ecosystem, the need for a brand identity that accurately reflected its maturation and stature became evident. Responding to this evolution, $PAW underwent a comprehensive rebranding process. The new brand identity moves away from the initial meme-token aesthetics, embracing a more modern, dark, sleek, and sophisticated design. This change is not just a visual overhaul but symbolizes the platform's reliability, maturity, and professional approach in the DeFi space.
Current version of the PAWchain website. Source: https://www.pawchain.net/The rebranding of $PAW marks a key milestone in its journey. It signifies the project's growth from a token with a light-hearted beginning to a serious contender in the DeFi arena, embodying a platform that is evolving in line with the dynamic needs and expectations of its community.
Latest News and Development
A New level of Interoperability in the PAWChain
PAWChain has made a significant breakthrough in blockchain interoperability, introducing a layered architecture that optimizes network efficiency and scalability.
- Layer 1 (Contractual Layer): This foundational layer hosts smart contracts and is key to reducing network load, enhancing scalability, and decreasing fees.
- Layer 2 (ZK Roll-up Layer): It employs Zero-Knowledge roll-ups to batch transactions, significantly scaling the network's throughput while maintaining data integrity.
- Layer 3 (Cross-Chain Layer): Serving as a cross-chain mediator, this layer allows for gas-free internal transactions and seamless transfers between different blockchains.
Additionally, PAWSwap, a core feature of PAWChain, integrates these layers to streamline operations like bridge-swap-bridge transactions. This advancement makes PAWChain's liquidity pools accessible to users on any chain, simplifying liquidity management in the blockchain ecosystem.
Updated Security Score on CertiK
PAWChain has achieved a significant milestone in its security and reliability, as evidenced by its updated security score from CertiK, a leading blockchain security firm. The $PAW token now boasts an impressive CertiK security score of 92.60, ranking it 23rd overall and 17th among all audited projects. This achievement reflects PAWChain's commitment to maintaining high security standards.
Key Highlights:
- Skynet Milestone Alert: PAWChain is nearing a community milestone with almost 50,000 votes on their Skynet profile, indicating strong community support and engagement.
- CertiK Audit Report: In 2023, PAWChain underwent a comprehensive audit by CertiK. The audit report, detailing findings, resolutions, and scope, is accessible in their Code Security section, affirming the platform's dedication to transparency and security.
- Team Verification - CertiK KYC Badge: PAWChain underwent a thorough CertiK KYC process, including background checks of key team members. The result was the awarding of a KYC Silver badge, emphasizing the team's transparency and accountability.
- Bug Bounty Program with CertiK: Collaborating with CertiK, PAWChain launched a bug bounty program with a $10,000 fund dedicated to bounty payouts. This initiative encourages continuous security reviews and open-source testing.
- Verified Smart Contracts On-Chain: PAWChain has 5 live smart contracts, verified to match the audited code on-chain. These contracts are available for public review in the contract verification section of their Skynet profile.
- Steady Growth of $PAW Token: Since December, the $PAW token has seen steady growth in its holder base, with minimal major whale wallet movements, indicating a stable and growing investor interest.
- Community Trust and Social Engagement: PAWChain's community trust and social metrics show consistent increases in followers and active engagement across various platforms. This includes high levels of interaction within their Skynet profile and community reviews of security insights.
$PAW on Exchangio Crypto Exchange Service
PAW token can be traded on Exchangio, offering users the opportunity to exchange PAW against a diverse range of over 700 digital assets. Recognized for its user-friendly interface, Exchangio provides a seamless, registration-free trading experience, appealing to both new and experienced cryptocurrency enthusiasts.
This integration with Exchangio simplifies the process for those looking to diversify their portfolios. Facilitated through the platform's features, it ensures efficient and straightforward btc to PAW exchange.
Bottom Line
In conclusion, PAWChain's journey since its inception has been marked by significant advancements in technology, security, and community engagement. The platform's innovative layered architecture enhances blockchain interoperability, while its rebranding reflects a matured and professional identity. The updated CertiK security score and various security initiatives underscore PAWChain's commitment to creating a secure, reliable, and user-centric blockchain ecosystem. With steady growth, robust community support, and a clear vision for the future, PAWChain is poised to make a lasting impact in the decentralized finance landscape.
Disclaimer:
The information contained in this article is provided for educational and informational purposes only. It is not intended to be investment or financial advice, and should not be taken as such. Cryptocurrency is a highly speculative and volatile market, and any investment made in it carries a significant risk. Before making any investment decisions, it is recommended that you seek the advice of a qualified financial professional to understand the potential risks and rewards associated with investing in cryptocurrencies.