By cryptoadmin ElizaOS founder Shaw Walters announced that the Eliza token project has ended and the foundation managing the project has begun the process of ceasing operations. Walters stated that he does not hold any tokens and will not support any token projects related to Eliza going forward.
Using strong language on social media, Walters stated, “The token is dead, completely,” indicating that he has no plans to continue the project under the current structure. Walters stated that he owns the intellectual property rights and plans to relaunch Eliza independently of the token model.
Walters added that Eliza will continue to develop its core technology and operating system, but will not allow a new Eliza token in the new structure. Criticizing the culture in the cryptocurrency community, Walters said there is no foundation, new supply, or buyback program to support token holders.
Related News A Moment of Truth for Bitcoin: Analyst Says There’s a Major Technical Bottleneck – Here’s What to Expect
The founder also stated that token holders should sell their assets or utilize them in their own way. According to Walters, there are no remaining resources in the project treasury that can be used to support the token price or conduct buybacks.
The statement also touched upon the legal process the project faced. Walters claimed that Burwick had filed a lawsuit against the project and that, because the team lacked the financial resources to pursue the case, they reached a settlement with a group of token holders.
According to Walters, as part of the settlement, all remaining treasury assets and existing funds in the project were transferred to the relevant group. Therefore, the foundation will not be able to continue its operations or financially support the token ecosystem.
Walters stated that he continues to believe in the underlying technology of ElizaOS, but argued that the current token structure has only resulted in wasted time, legal pressure, and fraudulent attempts for him and his team. He suggested that ElizaOS could be redeveloped in the future under a new structure focused on software and intellectual property, without the token.
*This is not investment advice.