BEARISH opens one-click Ethereum migration as Abstract shutdown nears

In Brief:

• BEARISH is moving its bears and BURR from Abstract to Ethereum. The snapshot is Oct. 20 at 00:00 UTC, and claims open at 16:00 UTC that day at bearish.af/den/migrate.
• All NFT royalties, Uniswap v4 pool fees, Bring a Bear sales and Fur Keeps fees go into the BURR/ETH pool. The team takes 0% during the rebuild.
• The move follows the planned Dec. 15 shutdown of Abstract. Bears and BURR not claimed by Dec. 16 at 00:00 UTC go to the team wallet.

BEARISH opens claims for its Ethereum migration Tuesday, moving the full bear collection and its BURR token off Abstract weeks before that chain goes dark.

The snapshot is set for Oct. 20 at 00:00 UTC (8 p.m. ET Monday). Holders can start claiming at 16:00 UTC (noon ET) that day at bearish.af/den/migrate. OpenSea trading stops late Monday, Oct. 19.

“Same bears. Bigger chain. One click,” the team said in an Oct. 18 post on X.

Last call is Dec. 16 at 00:00 UTC. “Bears and BURR not claimed by then go to the team wallet,” the team said. In an earlier Oct. 8 post, BEARISH said unclaimed assets would move to treasury “for LP or burn.”

Every fee goes to the pool

Under the plan, 100% of NFT royalties and Uniswap v4 pool fees go back into the BURR/ETH pool and compound. All ETH from the Bring a Bear sale goes there, and so do all Fur Keeps fees. The team said 0% goes to the team while it rebuilds.

That split changes once the pool holds 15% to 20% of BURR’s total value. At that point, 70% of royalties and trading fees would go to a BEARISH rewards program paid in ETH. The other 30% would fund the project’s tokenization system.

“Here it is in one line: every sale, every trade, every rev generating source makes us stronger,” the team said.

How the claim works

Holders connect the Abstract wallet that held their bears, whether that’s an Abstract Global Wallet, a Safe or a regular wallet. They pick an Ethereum wallet, sign one free message and press Migrate. There’s no bridge.

All 8,888 bears keep their IDs, and each still holds 10,001 BURR. The team said bears, BURR, Customs and rewards all carry over “Same numbers.” Anyone using an Abstract Global Wallet or a Safe needs to sign their message by Dec. 12.

The claim costs small gas, about $0.10 a bear on a quiet day, according to the Oct. 18 post. The Oct. 8 post said the team would pay the network fee for claims until its budget runs out.

Hibernating bears don’t need to be touched. “Don’t wake them. They move asleep, with the same start date. Red Berries keep dripping,” the team said. HiBEARnation reward claims on Abstract paused Oct. 9, and holders will claim those on Ethereum.

Bring a Bear

BEARISH is also selling 500 new bears to Abstract XP holders at 0.015 ETH each. The window runs from 16:30 UTC on Oct. 20 to 16:30 UTC on Oct. 23, first come, first served.

XP Gold wallets get one bear, Platinum gets two, and Diamond and up get three. The team said 58,655 wallets qualify, enough to mint 62,328 bears against a supply of 500.

Minted bears are locked for 30 days. There’s also a day-90 price shield: if the bear is worth less than 0.015 ETH and the buyer still holds it, they get the 0.015 ETH back and keep the bear. A bear’s worth is the value of its 10,001 BURR at the pool’s 14-day average price. Refunds come from a pool the team funds.

Fur Keeps and Snore Club

Fur Keeps lets holders burn a Custom and put its 1/1 art on their bear for keeps. It costs 0.25 ETH, opens one week after the move, and the proceeds go to LP. “No undo,” the team said.

Snore Club is the project’s tokenization play. The team said the pool comes first, with phase two arriving in the new year, “2027 at the latest.” It’s looking at tokenized stock rewards and ETH rewards from fees for sleeping bears.

“To be clear: owning a bear or BURR doesn’t give you a claim on any stock or fund,” the team said in the Oct. 8 post. It said access to ETFs and stock tokens depends on where users live and each provider’s rules.

Why BEARISH is leaving Abstract

Igloo Inc., the parent company of Pudgy Penguins PENGU $0.00749 ▼ -4.1%, announced Oct. 6 that it would shut down Abstract on Dec. 15.

“Abstract is shutting down. For most projects, that would be the end of the story,” BEARISH said.

The bears stay on Ethereum for good. BURR is meant to move to the chains where the team’s games run, starting with Robinhood Chain, where cubes.fun launches Oct. 29. Solana and Arc are next on the list.

Blinko Season 2 is in pre-release testing and now launches on Ethereum. The team is also building a social casino for U.S. players, using a sweepstakes model in states that allow it, starting with 31 original BEARISH games on bearish.games and bearish.poker. BEARISH GIFs have more than 12 billion views on GIPHY, the team said.

BEARISH thanked OpenSea and @cartyisme for help with the move. It said holders should only use bearish.af and that the team never DMs first.

“A \”claim now\” post before Oct 20, 16:00 UTC is fake,” the team said.