🔗Bridge UPDATE
Connecting Ethereum and Binance Smart Chain
The current status and future plans for the Catboy bridge between the Ethereum and Binance Smart Chain networks. After a challenging experience with our initial bridge partner, Blockblend, we are shifting our strategy to prioritize transparency and security while fostering the growth of the Catboy project.
Partnership canceled
Initially, we partnered with Blockblend to facilitate the bridging of Catboy tokens between Ethereum and BSC. This collaboration aimed to enhance liquidity and accessibility for our community. However, we uncovered several issues that prompted us to reevaluate this partnership:
Issues with Blockblend
Contractual Breaches: We discovered that the bridge contract was not completed as agreed, raising concerns about its integrity and functionality.
Breach of Trust: Our trust was further compromised when we learned that Blockblend utilized a significant portion of the token supply for personal trades, undermining the intended purpose of the bridge.
Supply Mismanagement: Over 5% of the total Catboy token supply was sold without our consent, leading to a substantial loss of assets that were meant to support the project.
Lack of Transparency: Our attempts to engage Blockblend for answers and solutions over the past 4 months were met with minimal communication, causing frustration and uncertainty.
Current Strategy
Given the challenges faced with Blockblend, we have terminated our partnership and are actively seeking a new, reliable solution for bridging Catboy tokens. Our focus now shifts toward the following key priorities:
1. Independent Growth of $Catboy
We are committed to nurturing the Catboy project independently, enhancing its ecosystem, and increasing community engagement.
2. New Bridge Solutions
We are exploring partnerships with reputable bridge service providers that prioritize transparency, security, and compliance.
3. Separation of Projects
Until we secure a trustworthy bridge solution, we will maintain a clear separation between Catboy ETH & BSC.
FAQs
Why did you terminate the partnership with Blockblend?
We found significant breaches of trust, a lack of transparency, and mismanagement of token supply.
What are the next steps for the Catboy project?
We are focusing on our independent growth and seeking new, trustworthy bridge solutions.
Until further notice, $CATBOY ETH & $CATBOY BSC will be seperate untill we unite them.
For further inquiries, please reach out to our support team. Thank you for being a valued member of the Catboy community!
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