🔗Bridge UPDATE

Connecting Ethereum and Binance Smart Chain

New Bridge Partnership Axelar

Axelar Network Partnership & Custom Bridge Integration

Overview of Axelar Network

Axelar Network is a leading decentralized interoperability platform that facilitates seamless communication and cross-chain transactions. By bridging multiple blockchains, Axelar simplifies interactions between disparate ecosystems, allowing assets and data to move freely and securely across networks. With Axelar, decentralized applications (dApps) can operate across a wide range of blockchain platforms without requiring complex or fragmented solutions.

Our Partnership with Axelar Network

We are excited to announce our strategic partnership with Axelar Network to integrate their powerful cross-chain capabilities into our platform. This collaboration enables us to leverage Axelar’s cutting-edge infrastructure to ensure smooth, secure, and scalable interactions across different blockchain ecosystems.

SquidRouter Custom Bridge on Our dApp

As part of our partnership, we are implementing a custom SquidRouter Bridge Page within our dApp. This page will provide users with a simplified, direct way to transfer assets between supported blockchains, powered by Axelar’s cross-chain technology.

• Zero Bridge Fees: To enhance user experience, we’ve ensured that there will be no additional bridge fees associated with using the SquidRouter bridge. Users will only be responsible for standard on-chain gas fees, which are typical for any blockchain transaction.

• Mint & Burn Function: In order to make use of Axelar’s platform and its unique capabilities, we’ve integrated a Mint & Burn function into our smart contract. This is an essential component to ensure the seamless bridging of assets while maintaining the integrity of our tokenomics during cross-chain transfers.

We will not burn tokens to "decrease supply and increase" value. The reason the burn mechanism is added alongside the minting system is to ensure that the total supply across both chains remains capped at 100 million tokens. This ensures we don’t create excess supply, maintaining stability and balance between the two chains.

Axelar Network’s Credibility & Partnerships

Axelar is a well-established and highly respected network in the blockchain space. Trusted by industry leaders and prominent organizations, including:

• Binance – One of the largest and most popular cryptocurrency exchanges in the world.

• Trust Wallet & MetaMask – Two of the most widely-used and reputable cryptocurrency wallets.

• Deutsche Bank & Microsoft – Recognized global enterprises, leveraging Axelar’s technology for secure and scalable blockchain interactions.

• & more!

This extensive backing from both the cryptocurrency ecosystem and major enterprises highlights Axelar's commitment to providing robust, reliable, and trusted blockchain interoperability solutions.

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Blockblend 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

1. Contractual Breaches: We discovered that the bridge contract was not completed as agreed, raising concerns about its integrity and functionality.

2. 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.

3. 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.

4. 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

1. Why did you terminate the partnership with Blockblend?

   • We found significant breaches of trust, a lack of transparency, and mismanagement of token supply.

2. 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.