Staking & Token Upgrade Information

TL;DR

ONINO's Mainnet upgrade will take place on April 1, 2025, marking the beginning of a long-term journey to bring finance on-chain. Due to security and technical limitations, ONINO will not support a two-way bridge for BEP-20 or ERC-20 tokens. Instead, a 2-year upgrade period will ensure a smooth transition. Meanwhile, staking rewards and LP incentives will remain active during the early phase to ensure fairness and flexibility for all community members. Existing single token staking will continue generating rewards for 2 months, while liquidity pool incentives will continue to generate rewards for 6 months after launch.

The token upgrade to Mainnet will require no KYC and is getting closer by the second, building excitement for the years to come. The upgrade of tokens to the Mainnet will be as simple as following these steps:

1. Visit the ONINO Wallet (released on launch)
2. Sign a message to confirm the migration terms and conditions.
3. Approve the upgrade smart contract to access your old ONI tokens.
4. Approve to burn your old ONI tokens using the upgrade smart contract.
5. Wait for the airdrop on the ONINO Mainnet

If you missed our blog post on the process keep reading here: https://www.onino.io/blog/onino-mainnet-launch-building-the-future-of-on-chain-finance

As a team, we are ready to change traditional finance one step at a time. This launch is just the beginning of something bigger. Bringing finance on-chain through tokenization.

First things first. We have listened to your feedback and the upgrade from token to Mainnet will be performed through a one-way bridge and will not require KYC.

Now that we have been working on this as a team for years, we want to give more information on things you want to know more about:

• Current Staking and Incentives
• Upgrade to Mainnet
• and more…

So let’s start with explaining our reasoning behind the decisions around the Mainnet upgrade and how we decided upon our timeline.

Current Staking and Incentives

Since integration with other platforms (such as exchanges) will not be available on day one, we have decided to create a fair environment for everyone. Whether you want to upgrade from day one and start improving the security of the ONINO network through delegation, or stick with your existing BEP-20 or ERC-20 token.

Single token staking will be open and still generating rewards for a period of 2 months after the launch of our main network. This should give our partners enough time to complete the first integrations with the ONINO Mainnet and allow users more flexibility once they have upgraded their token.

LP Token Incentives will remain open and still generating rewards for a period of 6 months after the launch of our Mainnet. This should give everyone on BSC and Ethereum enough flexibility and give the team enough time to integrate with third parties in creating new wrapped versions of the native ONI on the respective chains.

The upgrade period to the Mainnet is set to 2 years, giving every community member enough time to upgrade their token and still stay in their desired environment for a longer period of time.

Token Upgrade and Bridges

Creating a two-way bridge for existing ONI tokens raised significant security and technical concerns. Locking all tokens without burning them posed unacceptable risks to the ONINO ecosystem, and the non-mintable nature of the BEP-20 ONI made it nearly impossible to implement a reliable lock-and-burn mechanism. Additionally, delays and lack of support from our current bridge partner, Chainge, have prompted us to explore alternative vendors.

We have discussed this with several experts in the industry and believe that the Mainnet ramp up we have presented combines the best of sustainable growth, security and accessibility.

While the BEP-20 ONI will eventually be replaced by a new wrapped token, our 2-year upgrade and transition period gives everyone enough flexibility during the entire process.

For the ERC-20 ONI on Ethereum, we are currently exploring options to introduce a two-way bridge with the current smart contract. This is possible thanks to the mintable functionality in the contract, which allows for a lock-and-burn bridge that minimizes the number of tokens locked in a bridge vault at any given time. The final decision depends on our partner chainge, who has integrated the current bridge from BSC to Ethereum. We will keep you updated on this front.

Your ONINO Team