StandX Co-founder Announces Halt to Token Generation Event

StandX co-founder AG stated that StandX has decided to halt the Token Generation Event (TGE). The project reached a peak Total Value Locked (TVL) of $200 million without external VC funding, but failed to achieve its goal of becoming one of the top three perpetual contract DEXs. AG pointed out that while the current fundamentals could still support a token issuance, relying on short-term speculation cannot provide sustainable long-term value, ultimately imposing costs on users and the community, which contradicts his personal values. Most of the project's revenue has been returned to users through SIP-2 and SIP-3 subsidies, and this airdrop will utilize the remaining project treasury funds, with personal contributions from him to give back to the community. AG emphasized that all user funds are safe, and DUSD is backed by sufficient assets. StandX will orderly conclude its operations and announce specific arrangements for fund withdrawals, airdrops, and service termination.

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