In a strategic and momentous decision, Azuki DAO has recently undergone a remarkable rebranding, emerging as ‘Bean’ while simultaneously dropping a proposed lawsuit against its founder, Zagabond. This bold move aims to position Bean as a memecoin project within the Ethereum layer-2 Blast ecosystem.
Notably, Bean has successfully secured a substantial $10 million from renowned investors, further strengthening its development and acceleration. However, this transition has not been without challenges. The Azuki NFT collection, consisting of 10,000 anime-themed profile pictures, experienced a dilution when Zagabond released a second series called Elementals, resulting in a significant drop in the price of Azuki NFTs. Consequently, a community lawsuit against Zagabond was proposed.
Additionally, there have been updates to the token supply plan, with allocations made to the Azuki DAO community, Bean Treasury, and Zagabond. Moving forward, Bean aims to provide transparent financing details, as well as a comprehensive roadmap outlining its future plans and milestones.
Key Takeaways
- Azuki DAO has rebranded to ‘Bean’ and has dropped a proposed lawsuit against founder Zagabond.
- Bean has secured $10 million from prominent investors for its development and acceleration.
- The release of a second series called Elementals led to dilution of the Azuki NFT collection, resulting in a 44% decrease in price and triggering a community lawsuit proposal.
- The token supply plan has been updated, with 50% of the Bean token allocated to the Azuki DAO community for an airdrop of Azuki series NFTs, 40% allocated to the Bean Treasury, and 10% allocated to Zagabond.
Rebranding and Lawsuit Resolution
The rebranding of Azuki DAO to ‘Bean’ and the resolution of the lawsuit against founder Zagabond mark significant developments in the project’s trajectory.
The rebranding aims to position Bean as a memecoin project within the Ethereum layer-2 Blast ecosystem. To support its development and acceleration, Bean has secured $10 million from prominent investors.
The lawsuit against Zagabond stemmed from the dilution of the Azuki NFT collection, which experienced a 44% decrease in price due to the release of a second series called Elementals. However, the proposed lawsuit has been dropped, allowing the project to move forward.
The token supply plan for Bean includes allocating 50% to the Azuki DAO community for the airdrop of Azuki series NFTs, 40% to the Bean Treasury, and 10% to Zagabond.
Detailed information on financing, roadmap, and future developments will be disclosed soon.
Token Supply and Allocation
Token supply and allocation in the rebranded Azuki DAO, now known as Bean, is an important aspect of the project’s development and distribution strategy. Here are three key points regarding the token supply and allocation:
- Outdated Token Supply Plan: The current token supply plan displayed on the Azuki DAO website is outdated. The original plan allocated 40% of tokens to the treasury, 50% to Azuki DAO members, and 10% to Zagabond. However, a follow-up statement clarified that 50% of the Bean token was allocated to the Azuki DAO community for the airdrop of Azuki series NFTs, while 40% was allocated to the Bean Treasury and 10% to Zagabond.
- Proposed Total Supply: The proposed Bean memecoin will have a total supply of 1 billion tokens. This allocation will play a crucial role in the project’s ecosystem and support its future development.
- Remaining Tokens: As of now, the remaining tokens are still held in the designated address. It remains to be seen how these tokens will be utilized and distributed in the future, as the project’s financing and roadmap are yet to be disclosed.
Financing and Roadmap
Bean has secured $10 million from prominent investors to support its development and acceleration, according to Azuki DAO developers. This financing will provide the necessary resources for Bean to establish itself within the Ethereum layer-2 Blast ecosystem.
With this funding in place, Azuki DAO plans to release a roadmap outlining its future plans and milestones. This roadmap will serve as a guide for the project’s development and will provide transparency to the community.
By securing such a significant investment, Bean demonstrates its commitment to delivering on its objectives and creating value for its stakeholders. The financing also highlights the confidence that prominent investors have in the project’s potential.
As Bean continues to progress, it will be interesting to see how it utilizes this financing to drive its growth and achieve its goals.
Conclusion
In conclusion, the rebranding of Azuki DAO to Bean marks a significant strategic move within the Ethereum layer-2 Blast ecosystem.
With the lawsuit against Zagabond dropped, Bean aims to establish itself as a memecoin project.
Despite challenges faced, such as the dilution of the Azuki NFT collection, Bean has secured $10 million in funding and has outlined future plans and milestones.
This transformation represents the resilience and adaptability of the project, paving the way for its continued growth and development.
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