It comes with great disappointment that today we will be unlaunching Meme Dealer.
Over the past 6 weeks, our launchpad has been battletested and performed amazingly with phenomenal feedback. The best performance of any launchpad release in the ecosystem.
However, something has became abundantly clear to us. The runes culture is missing the hunger that it once had under these market conditions. There is almost zero new demand for new Runes tokens and creators to deploy new Runes. And thus, very low demand for new innovations in Runes. Even if the innovations can support OG Runes tremendously.
This moment we hope is not the end, but a temporary unlaunch. As you all know this is an ecosystem we love and care about greatly. We worked 16 months on building this and spent over $1M (nearly double our presale raise matching the investment of our community) on bringing this product to market.
We still have an extensive roadmap, which includes airdrops and a ton of value to the entire bitcoin ecosystem. We hope to relaunch and introduce all of these new things.
For now we are winding down operations on the platform, closing swaps and DAO operations effective immediately. We will be working with project teams and the community to organize refunds and or migrate LPs to other platforms. We believe we can issue close to near full refunds to absolutely everyone, we can't make any promises yet but we are confident in a fair resolution for all. Which we will contribute 100% of revenue from the platform towards.
Some of you may be disappointed as you were profitable through vesting rewards, but this unlaunch is a protective measure as without new users and new volume it will become PvP and many will lose as vesting unlocks are triggered. Our experiment was successful, but the market was not ready.
We will make an official announcement on the decisions here within 1-2 weeks, but fairly compensating everyone is our main priority.
Deposits and withdrawals will remain open for the next 6 months from now, to give plenty of time for everyone to get their funds from the platform.
We hope to relaunch with new features, projects, better educational content and excitement under better market conditions.