BatuDefi
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PSA: we’re sunsetting $send coin and starting a new chapter! tldr: send as a token will no longer be a core token for any products and you can burn send to reserve any future allocation [deadline: 31st jan, 2026] burn: thesendcoin.com @sendaifun will continue to be an applied ai lab & my 100% focus more on why & what: last year in july’24, we ICO’d/fair launched send at $500k market cap on @MeteoraAG to grow “blinks” ecosystem but over time as blinks faded, the vision evolved to become an ecosystem token and we built 35+ products & brands in last 1 year on @solana we're proud of the impact we made across ai, consumer, and gaming ecosystem but why sunset token? over the last 6-8 months, i gained interesting insights on what we only wanna focus on for the next 3-5 years (ai x crypto) our vision became 100x as we go for category-creation and a fresh capital structure is needed for that token is a product and it leads to distraction (short-term narrative chasing) and with now a much long-term & bigger vision of 'generative financial instruments', we want to keep ourselves focussed much of these insights were gained during solana labs @incubator (sept-nov) what’s next? - send foundation (holding ~50% supply) will wind down all its treasury and won't be participating in any community burn - @iirfan will independently continue developing his products - @sendarcadefun will continue to operate independently as a game studio - @sendaifun will continue developing products, leading open-source initiatives, hosting events and retain all its IP SendAI might soon raise fresh capital from angels/VCs or remain bootstrapped. be prepared for tons of announcements soon 👀 SendAI will remain to backed by @solanalabs and we're fortunate to be a @incubator startup personally, i’ll be only focussing 100% on SendAI from hereon along with @_0xaryan & rest of my team (check @sendaifun affiliate badges) Why burn send coin? - to allow rewarding loyal holders who still believe in us, whenever we launch anything (for instance, X% of any future token/equity might be reserved for wallets who burn send proportionally) the X% will completely depend on the future capital structure more you burn = more your allocation you’ll be assigned a unique NFT (based on burn amount) to record your on-chain footprint: the non-transferrable loyal card will serve as a way to track and reward your loyalty later (incl. any rewards, early access and so on) (select send loyalty telegram group members who stayed >1 year will manually receive 2x boost on their burn amount to appreciate their support) - if you don’t wanna burn, send will always be tradable on solana via locked LP pools the foundation or unvested team allocation (~50% of supply) allocation won't be participating in any community burn, ensuring community remain un-diluted in this allocation -- thanks send for giving this kid an opportunity to fair-launch a token with $1b+ in lifetime volume, all euphoric feeling of ups and downs and countless products & initiatives around it. it really taught me to be intellectual honest and build for a purpose in a space full of noise through all the ups and downs, i’ve learnt a ton from token as a product - particularly some huge mistakes to avoid next time i truly love internet capital markets & glad to have applied everything on the go. can’t wait to become a token founder again sooner & later 🫡 hungry for a bigger win send it
