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- Rune 2 transfers management of DECENTRALIZED to Satoshi Nakamoto, signaling full decentralization.
- The staff withdraws from the venture, leading to a 25% drop in DECENTRALIZED token worth.
- The transfer, costing over $1 million, was meant to represent blockchain tradition somewhat than search monetary returns.
Rune 2, an Ethereum-based NFT venture created by CyberKongz, has introduced that it’s absolutely decentralizing its DECENTRALIZED venture. The staff despatched Rune 2 to Satoshi Nakamoto’s pockets and said they’d withdraw from the venture, inflicting a 25% drop in DECENTRALIZED worth.
DECENTRALIZED: A Tribute to Bitcoin’s Ethos
DECENTRALIZED, launched with the intent of representing the decentralized tradition and ethos of Bitcoin, was launched on April 20, 2024, coinciding with the day of fourth Bitcoin halving. It was etched utilizing the Runes Protocol, which was additionally launched on the halving.
The venture began as a Pre-Rune Ordinals assortment referred to as “Prometheans,” created by the CyberKongz staff. This assortment had a provide of 21,000 and was airdropped to hand-selected Ordinals communities (85% of the provision) in addition to current CyberKongz holders (the remaining 15% of the provision).
In a closing assertion posted on X on Friday, the staff revealed that etching Rune 2 and executing the venture value them over $1 million. Nonetheless, they emphasised that this was a strategic alternative aimed toward making a “image of provenance and cultural worth” throughout the blockchain ecosystem, not a transfer pushed by monetary achieve.
“We spent over $1,000,000 on DECENTRALIZED and requested for nothing in return,” the staff said of their launch.
Following the announcement, the market responded sharply. DECENTRALIZED, the native token related to the venture, skilled a 25% decline in worth inside 24 hours. As of the press time, the token trades at $0.00002262, marking a 4.86% decline within the final 24 hours.
This vital drop displays traders’ issues over the sudden withdrawal of the venture’s core staff and the uncertainties surrounding its future.
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