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A fervent band of enthusiasts, united by their love for Azuki, a leading nonfungible token (NFT) brand, have taken a bold stand. Alex Xu, also known as Zagabond, is the founder of Azuki and the alleged architect of several suspicious projects. He spoke about getting back a sum of 20,000 Ether (ETH), roughly translating to a $39 million value.
The saga started on July 2, when the Azuki enthusiast group, operating under the guise of a decentralized autonomous organization (DAO), took the unusual step of introducing a proposal. This daring proposal wasn't just another bureaucratic paper shuffle; it had teeth. Their audacious plan involves hiring legal counsel with the express intent of taking Alex Xu to court. The alleged transgression came from a "rugpull" in several projects - a term in the cryptocurrency world that refers to when founders suddenly withdraw funds, leaving investors in the lurch.
Their target is not small change but the proceeds from the sale of Azuki's divisive "Elementals" NFT collection. Xu, they allege, has profited handsomely and unjustly from this venture. A staggering 20,000 ETH (about $39 million) is what they aim to retrieve.
However, the enthusiasts' motives extend beyond retribution or recovery of lost investments. Their proposal indicates a desire to reinvest the reclaimed funds into the DAO. The goal is clear - nurture the Azuki community and encourage its growth.
The story stands as a testament to the power of collective action. This group of enthusiasts, rallying around the banner of Azuki, seeks to balance the scales, to bring a sense of justice to a world where power often seems to reside with the few. They aren't just fans; they are guardians of the community, making a stand for transparency, accountability, and integrity.
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