- Rune 2 marks full decentralization, handing over management of DECENTRALIZED to Satoshi Nakamoto.
- The worth of the DECENTRALIZED token dropped by 25% because the staff withdrew from the undertaking.
- The transfer, which value over $1 million, was geared toward symbolizing blockchain tradition relatively than in search of monetary acquire.
Rune 2, an Ethereum-based NFT undertaking created by CyberKongz, introduced that they might be totally decentralizing their DECENTRALIZED undertaking. The staff introduced that they might be sending Rune 2 to Satoshi Nakamoto's pockets and withdrawing from the undertaking. This induced the worth of DECENTRALIZED to drop by 25%.
Decentralization: A tribute to the spirit of Bitcoin
Launched with the purpose of representing Bitcoin’s decentralized tradition and ethos, DECENTRALIZED was launched on April 20, 2024, the date of Bitcoin’s fourth halving. It was inscribed utilizing the Runes Protocol, which was additionally launched on the halving.
The undertaking started as a pre-run Ordinal assortment known as “Prometheans” created by the CyberKongz staff. The gathering had a provide of 21,000 that was airdropped to a choose group of Ordinal neighborhood members (85% of the provision) and present CyberKongz holders (the remaining 15% of the provision).
In a last assertion posted to X on Friday, the staff revealed that it value them greater than $1 million to etch Rune 2 and execute the undertaking, however pressured that it was a strategic selection geared toward making a “image of origin and cultural worth” inside the blockchain ecosystem, not a transfer geared toward monetary acquire.
“We spent over $1 million on DECENTRALIZED and requested for nothing in return,” the staff stated in a launch.
Following the announcement, the market reacted sharply: DECENTRALIZED, the native token related to the undertaking, misplaced 25% of its worth inside 24 hours. On the time of writing, the token was buying and selling at $0.00002262, down 4.86% up to now 24 hours.
The sharp drop displays investor considerations over the sudden departure of the undertaking's core staff and the uncertainty surrounding its future.
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