AzukiDAO announced that it was renamed "Bean" and dropped its lawsuit against Azuki founder Zagabond over the $39 million minting incident. Azuki developers stated that the DAO will be rebranded as the memecoin project and become part of the Ethereum layer 2 Blast ecosystem. The developers also claim that Bean has received $10 million in funding from "well-known investors" for development and acceleration in the Blast ecosystem, who were not disclosed. Bean stated that the proposed total supply of Bean memecoin is 1 billion. 40% of the tokens are allocated to its vault, 50% to Azuki DAO members, and 10% to Azuki NFT creator Zagabond. Minting is only available to Azuki NFT holders, who must mint within 24 hours of token issuance or face "token destruction."
