Altcoin builders of the Metaverse-themed cryptocurrency undertaking Starlink (STARL) introduced that the undertaking is now not formally developed. All the workforce, besides the founders, left the undertaking, inflicting an surprising interruption within the undertaking’s progress.
In an open letter addressed to the STARL group, remaining workforce members make clear the circumstances that led to this resolution. The letter outlines a number of challenges confronted by the undertaking, notably funding constraints and points with the undertaking’s authentic tokenomics.
In response to the letter, because of inadequate funding the workforce has relied solely on volunteers for the previous yr, resulting in an unstable atmosphere to develop the envisioned gameplay and metaverse expertise. Furthermore, mismanagement of funds by the founders left the present workforce with restricted assets, hampering their capacity to proceed growth and enlargement efforts of the undertaking.
STARL resmi hesabının artık projenin geliştirilmekte olmadığını gösteren biyografisi.
The letter additionally highlights deficiencies in STARL’s tokenomics, which weren’t initially designed to adequately help long-term undertaking growth. The absence of mechanisms similar to taxes, workforce allocations and treasury management additional elevated the monetary difficulties of the undertaking.
In response to those disruptions, the workforce determined to maneuver in the direction of establishing a brand new recreation studio via an in depth rebranding effort.
In response to the assertion, key options from potential traders and companions embody rebranding the undertaking to distinguish it from previous relationships, defining a transparent core aim, reviewing tokenomics for sustainability, and severing ties with earlier founders and builders concerned in authorized points.
Whereas the way forward for STARL stays unsure, the workforce has assured the group that updates will likely be offered within the coming days and weeks.
STARL altcoin is listed on central exchanges OKX, Gateio and MEXC and has a market worth of $49 million on the time of writing.
Graph displaying the response of STARL value to the event.
*This isn’t funding recommendation.
