BEARISH starts one-click move to Ethereum ahead of Abstract’s December shutdown

In Brief:

• BEARISH is taking its bears and BURR token off Abstract and onto Ethereum. The snapshot lands Oct. 20 at 00:00 UTC, with claims opening at 16:00 UTC the same day at bearish.af/den/migrate.
• NFT royalties, Uniswap v4 pool fees, Bring a Bear sales and Fur Keeps fees all flow into the BURR/ETH pool. The team keeps 0% while it rebuilds.
• The migration comes after the planned Dec. 15 shutdown of Abstract was announced. Any bears and BURR left unclaimed by Dec. 16 at 00:00 UTC will go to the team wallet.

Claims for the BEARISH migration to Ethereum open Tuesday. The whole bear collection and the BURR token are leaving Abstract weeks before that chain shuts off.

The snapshot happens Oct. 20 at 00:00 UTC, which is 8 p.m. ET on Monday. Claiming starts at 16:00 UTC (noon ET) that day at bearish.af/den/migrate. Trading on OpenSea ends late Monday, Oct. 19.

The team summed it up in an Oct. 18 post on X: “Same bears. Bigger chain. One click.”

The final deadline is Dec. 16 at 00:00 UTC. “Bears and BURR not claimed by then go to the team wallet,” the team said. An earlier post from Oct. 8 said unclaimed assets would be sent to treasury “for LP or burn.”

All fees flow back to the pool

The plan sends 100% of NFT royalties and Uniswap v4 pool fees back into the BURR/ETH pool, where they compound. Every bit of ETH raised in the Bring a Bear sale goes there too, along with all Fur Keeps fees. According to the team, 0% goes to the team during the rebuild.

Once the pool holds 15% to 20% of BURR’s total value, the split changes. From then on, 70% of royalties and trading fees would go to a BEARISH rewards program that pays out in ETH, and the remaining 30% would pay for 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 claiming works

To claim, holders connect the Abstract wallet their bears sat in. That can be an Abstract Global Wallet, a Safe or a standard wallet. After choosing an Ethereum wallet, they sign a single free message and hit Migrate. No bridge is involved.

The 8,888 bears all keep their IDs, and every one still holds 10,001 BURR. Bears, BURR, Customs and rewards carry over with “Same numbers,” the team said. Holders on an Abstract Global Wallet or a Safe have until Dec. 12 to sign their message.

The Oct. 18 post puts the gas cost at roughly $0.10 per bear on a quiet day. In the Oct. 8 post, the team said it would cover the network fee for claims until its budget is used up.

Bears that are hibernating can be left alone. “Don’t wake them. They move asleep, with the same start date. Red Berries keep dripping,” the team said. HiBEARnation reward claims on Abstract were paused Oct. 9, and holders will collect those on Ethereum instead.

Bring a Bear

BEARISH is also offering 500 new bears to Abstract XP holders for 0.015 ETH apiece. The sale is first come, first served and runs from 16:30 UTC on Oct. 20 until 16:30 UTC on Oct. 23.

Wallets at XP Gold can buy one bear. Platinum wallets get two, and Diamond and higher get three. The team said 58,655 wallets are eligible, which adds up to 62,328 possible mints for a supply of 500.

Bears minted in the sale are locked for 30 days. A price shield kicks in at day 90: if the bear is worth under 0.015 ETH and the buyer still has it, they get their 0.015 ETH refunded and keep the bear. Value is measured as the bear’s 10,001 BURR at the pool’s 14-day average price. The refunds are paid from a pool funded by the team.

Fur Keeps and Snore Club

With Fur Keeps, a holder burns a Custom and applies its 1/1 art to their bear permanently. It costs 0.25 ETH and opens a week after the migration, with the proceeds going to LP. “No undo,” the team said.

Snore Club is where the project’s tokenization plans sit. The team said the pool is the first priority and phase two comes in the new year, “2027 at the latest.” Options under consideration include 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 wrote in the Oct. 8 post. It added that access to ETFs and stock tokens depends on a user’s location and on each provider’s rules.

Why BEARISH is leaving Abstract

On Oct. 6, Igloo Inc., which owns Pudgy Penguins PENGU $0.007518 ▼ -4.2%, said it would shut Abstract down on Dec. 15.

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

Ethereum will be the permanent home for the bears. BURR is set to follow the team’s games across chains, beginning with Robinhood Chain, where cubes.fun goes live Oct. 29. Solana and Arc come after that.

Blinko Season 2 is in pre-release testing and will now launch on Ethereum. The team is also working on a social casino for U.S. players that uses a sweepstakes model in states where that’s allowed. It will start with 31 original BEARISH games on bearish.games and bearish.poker. According to the team, BEARISH GIFs have passed 12 billion views on GIPHY.

BEARISH thanked OpenSea and @cartyisme for helping with the migration. It told holders to use only bearish.af and said the team never sends the first DM.

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