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Eliza Labs founder says native token is effectively dead

The founder attributed the wind-down to using remaining treasury and available funds to settle a class action lawsuit represented by Burwick Law.

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The Block reports that the founder of Eliza Labs, Eliza Labs founder, declared the project’s native token effectively dead and began winding down the Eliza Labs foundation.

In describing the decision, the founder said the team used its remaining treasury and available funds to settle a class action lawsuit represented by Burwick Law.

The Block also notes that the settlement was tied to the foundation’s use of remaining resources as the project prepares to close out operations.

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