ONYX Is Coming to Ethereum Mainnet

Kamigotchi and its developer Asphodel have confirmed that ONYX, the token at the center of the fully onchain pet MMORPG, will relaunch on Ethereum mainnet on April 22. The news was broken by Kamigotchi creator 0xl3th3 on X, framing the migration as a straight port of the existing token to a larger, more liquid venue rather than a new fundraise.

The migration mechanics are straightforward. The new ONYX token will be airdropped to existing holders on Ethereum mainnet. Trading on the old token will be paused during the transition, and the ETH currently backing the ONYX liquidity pool will be migrated over to back the new token. Any outstanding loan or loop balances will be preserved as a new combined Credit balance on the new deployment.

The in-game and out-of-game Kamigotchi portal will be paused for a short window during the process. ONYX used inside existing game contracts will be swapped out quickly for the new token, and the portal will then restart. Holders providing liquidity for ONYX and INIT on the Initia Layer 1 have been asked to pull their LP positions ahead of the cutover, because unwinding LP makes it easier for the team to assign tokens on mainnet. Everyone else does not need to do anything other than wait for the relaunch.

Why This Matters for Baseline

The same week as the ONYX migration, the DEX underpinning the token's economics is going public. Baseline has confirmed that its ecosystem token $B launches on Ethereum on April 20. Baseline bills itself as the first DEX built to empower tokens throughout their entire lifecycle, with product slots for staking, trading, borrowing, and strategies the platform calls looping and multiplying.

ONYX has been a bToken powered by Baseline from day one. Each ONYX token is backed by an underlying reserve of ETH, which creates a hard-coded max drawdown price that Baseline calls the BLV, or baseline value. That floor is the reason holders can safely take loans and loops against their positions without the usual risk of the collateral asset collapsing below a critical level. Moving the token to Ethereum, the same chain where Baseline is deploying its own native token, tightens that relationship. Liquidity, collateral, and DEX fees all end up living in one place.

That alignment also makes the Credit balance preservation more than a courtesy. Players who have been running loops or holding loan positions against ONYX keep their accrued exposure intact across the chain migration, which is rare for cross-chain token movements and is only clean to execute because the same DEX is orchestrating both sides.

What Kamigotchi Actually Is

For readers new to the project, Kamigotchi is a fully onchain idle MMORPG inspired by Runescape, Neopets, and MapleStory. The game is developed by Asphodel, an indie studio that has been building the title for the past few years, with backers including DCF GOD, Seed Club Ventures, and TempleDAO. The project raised a seed round in March 2025 and concluded its second testnet playtest around the same time.

Players mint procedurally generated NFT pets called Kamigotchi, each with unique traits, stats, identity, and progression. Kamis harvest MUSU, the game's in-game currency, earn XP, level up, unlock skills through sustained gameplay, and participate in PVP and quests. The game has already logged more than 1.4 million transactions and 4,452 Kamis minted across its earlier testnet phases.

ONYX sits on top of that loop as the secondary economy. It is currently used to reroll Kamigotchi back to the gacha pool, resurrect Kamigotchi that have died, and will soon cover renaming and respeccing. Asphodel has confirmed a bridge is being built to allow ONYX to exist as an item inside the game, where it will be exchangeable with other players for MUSU. More utility is planned as the project grows.

ONYX has a maximum supply of 1,000,000 tokens and has traded between a recorded low near 2 dollars and a high near 6.18 dollars on the Initia DEX since launch, with ONYX/INIT as its main pair.

Yominet, Initia, and Why Ethereum Now

Kamigotchi currently runs on Yominet, its own Layer 2 appchain built on Initia's Interwoven Stack with Celestia handling data availability. Yominet uses ETH for gas at a flat 0.005 gwei fee, and the chain supports Metamask and Rabby wallets for sign-in. Players bridge ETH to Yominet via Initia's official bridge or gas.zip, mint their pet through Sudoswap on the chain, and start playing. The full onboarding flow has been marketed as a 5-minute, 0.12 ETH process.

As of the most recent DefiLlama reading, Kamigotchi's TVL sat around 846,000 dollars, making it one of the headline consumer apps on Yominet. Yominet itself is also built to host future Asphodel titles, including the studio's long-term MMORPG vision that shares its name.

Moving ONYX to Ethereum mainnet is therefore a deliberate shift of the token layer onto the largest liquid venue in crypto while leaving the gameplay infrastructure on its purpose-built appchain. Onchain game state, Kami pets, and MUSU harvesting continue to live on Yominet. The economic layer that attaches ETH-backed value to the playable assets moves to the chain where Baseline lives and where deep ETH liquidity is native.

How the Migration Works for Players

The practical to-do list for current participants is short. LP providers on the ONYX/INIT pair on Initia should pull their liquidity before the switchover. Game portal users should expect a brief service pause while contracts get swapped to the new token. Everyone else simply holds, waits for the airdrop on Ethereum mainnet on April 22, and resumes from there.

The team has also confirmed that loan and loop balances held on Baseline against ONYX will carry over as a single unified Credit balance on the new token. That means players and traders who have leveraged their positions through Baseline's lifecycle tools will not have to manually unwind and re-enter after the migration. The position metadata travels with the user.

Kamigotchi founder 0xl3th3 has said the migration will be discussed live on a stream with BirthdayBoi the day after the announcement for anyone with specific questions.

Context: Baseline's Own Launch Week

The sequencing here is unusually tight. Baseline's $B token launches on Ethereum on April 20, which is a Monday. ONYX relaunches on Ethereum two days later on April 22. The gap is presumably enough for Baseline to publish its ecosystem token, stabilise initial trading, and then absorb the ONYX migration as its first major partner launch on mainnet.

Baseline's pitch has always been that tokens need a venue that handles their whole lifecycle rather than just spot swapping. The platform's design rotates tokens through staking, trading, borrowing, looping, and multiplying, each with a backing ETH reserve enforcing the BLV floor. ONYX has effectively been the live demonstration of that model for the gaming side of the thesis. A mainnet ONYX, on the same chain as a mainnet $B, turns that demo into the default setup.

What To Watch After Relaunch

Three things are worth tracking once the new ONYX goes live. The first is how the ETH backing the existing pool lands on Ethereum and whether the BLV floor holds through the migration without discontinuity. The second is whether the Credit balance preservation works cleanly for users who have loops open at the moment of the swap. The third is whether bridged ONYX inside Kamigotchi itself starts to move against MUSU the way Asphodel has described, because that is the mechanic that will eventually turn ONYX from a collateral asset into a fully circulating in-game item.

The game side of Kamigotchi keeps running on Yominet during and after the migration. What changes, starting April 22, is that the token powering the gacha, resurrection, and the coming rename and respec systems lives on Ethereum mainnet with a freshly launched Baseline deployment underneath it.