puush.fun

PUSH is consolidating into OBS When PUSH and Obsidian merged, we said the assets would stay separate and be addressed later. That time has come. Why? 1. Aligning with where the chain is going. The chain is streamlining CDC listings and app exposure, and PUSH is limited in what it can access because its liquidity is burned on Ebisu's Bay. Liquidity on the chain isn't being aggregated, so to take advantage of what Ult offers, we need a sizeable pool on VVS for now. We would rather focus that liquidity on one token than split it across two. 2. Two communities, one asset. By consolidating into OBS, which has a strong and growing token foundation, we bring both communities and all revenue streams together under one asset. PUSH launchpad revenue will now point to OBS. PUSH holders who convert to OBS get exposure to the Obsidian revenue streams already in place. The puush.fun rewards system will be migrated to the Diamond system. 3. Being able to move between chains. We're about to expand to other places, and it matters more than ever to move assets and reach new chains quickly. Our current structure doesn't allow that easily. What we did ahead of this announcement We front ran this migration on purpose, to maximize value for PUSH holders. We converted the PUSH held by the Treasury, Liquids and the DAO into OBS, and pulled as much liquidity as possible from the EB LP. We took a snapshot of these transactions. To prevent front running on the OBS side, the OBS will be purchased OTC for the remaining migration, and we will buy back the Treasury's allocation. Your options You can sell or keep your PUSH, or you can migrate it to OBS in this event. How the migration works Migration is a gated 10-day event. Step 1: Deposit your PUSH in the migration portal before the deadline. Step 2: When the event ends, claim your full OBS allocation with no locks. All CRO collected from deposits is used to buy OBS, split in proportion to each person's share of the total PUSH deposited. When you deposit doesn't matter. Deposited PUSH is sold into the LP to pull out as much CRO as possible and reduce PUSH liquidity. PUSH rewards PUSH rewards will be turned off when the migration ends. You have 10 days to claim your rewards and either migrate them or take them out. Any PUSH rewards still unclaimed after the 10 days will roll into the final migration, and the resulting OBS will go to those who participated in the move. NFTs We recognize that this is needed on the NFT side as well, and this is where Liquid NFTs give us a much easier path to consolidation. We are still working out the details of what this looks like, but in summary, all NFTs will liquidate their holdings into OBS to grow their Liquid NFT pools and prepare for an eventual migration. Mattress Fund: The Mattress Fund is being reversed. You have 1 month to claim. After that, any unclaimed CRO will be used to buy OBS and added to the Boomer Liquid NFTs. Graveyards: Any asset that was set to receive PUSH through a graveyard will have its allocation converted to OBS automatically.