ElizaOS founder Shaw Walters announced the conclusion of the Eliza token project and the start of the wind-down process for the foundation managing the project. Walters stated that he does not own any tokens and will not support any projects related to Eliza tokens in the future.
On social media, using harsh language, Walters declared: "The token is dead, completely," indicating that he has no plans to continue the project in its current structure. Walters stated that he owns the intellectual property rights and plans to relaunch Eliza independently of any token model.
Walters added that Eliza will continue to develop its core technology and operating system but will not permit the emergence of new Eliza tokens in the new structure. Criticizing the culture within the cryptocurrency community, Walters stated that there will be no foundation, new token issuance, or buyback program to support token holders.
The founder also stated that token holders should sell their assets or use them as they see fit. According to Walters, the project's treasury no longer has any resources available to support the token price or conduct buybacks.
The statement also touched on a legal process the project encountered. Walters claimed that Berwick filed a lawsuit against the project and that, as the team lacked the financial resources to continue 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 available project funds were transferred to the relevant group. Consequently, the foundation will be unable to continue its operations or provide financial support to the token ecosystem.
Walters stated that he still believes in the underlying technology of ElizaOS but argued that the current token structure has only led to wasted time, legal pressure, and fraudulent attempts for him and his team. He suggested that ElizaOS could be redesigned in the future under a new structure focused on software and intellectual property, without the use of tokens.
*This is not investment advice.
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