4/7

on the current technical state:

after speaking with recent/former technical contributors to based labs, our understanding is that the situation is more serious than “a few missing features.”

to put it plainly, there appears to have been a decentralized node layer, but also important centralized dependencies involved in watching and relaying ethereum-side brain activity into the network, including functions tied to emissions.

that is not what many in the community would reasonably assume when hearing “mainnet” for what should be a decentralized protocol.

pepecoin does not control the relevant servers. and even if access were obtained, that would not magically resolve the larger problem.

based on what we have learned, repairing the current chain into something closer to the original vision would likely require months of focused development work - and even then, the emissions/issuance problems would still need to be addressed.

it was already apparent that emissions were not transparently aligning with the original whitepaper expectations. what we have since learned makes that more serious, because key parts of the network appear to have remained dependent on centralized infrastructure and practical control maintained by commiter, we do not have access to this infrastructure, nor should such infrastructure be required for such critical functionality in a mainnet candidate.

we have not received a clear explanation of the actual mainnet emissions schedule, why it differs from what was originally understood, or how the relevant controls were being operated.

that means the question is not simply “can the chain be fixed?”

the question is also whether the current chain can be responsibly used as the foundation for future development without first addressing opaque issuance and emissions.

that may require a migration or relaunch even if parts of the chain are technically repairable.

5/7

what is happening:

we are actively working through the facts and possible paths forward.

that includes:

- speaking with recent/former technical contributors

- reviewing what was actually built

- understanding what state and balances can be preserved

- evaluating what parts of the current network are usable

- assessing whether a migration or relaunch of based is viable

- and continuing work on a parallel path that can incorporate the based ecosystem if the existing network cannot be responsibly relied upon

there are two broad paths being examined.

the first is a parallel path, such as claw.

this involves building from a cleaner foundation while incorporating the existing based ecosystem where possible.

the advantage of this path is that it avoids being trapped by the technical and economic baggage of the current implementation.

the tradeoff is that it requires careful design so that existing participation is accounted for fairly and responsibly.

the second is a possible migration/relaunch of existing based; which we have discussed with recent/former members of based labs who are knowledgable on the technical architecture of based, developmentally capable, and who are cooperative.

from those discussions it has been disclosed that in theory, parts of the chain could be fixed and built toward something closer to the original vision. however, based on what we have learned, that would likely require months of focused work and would not fully address several other core issues.

continued development on the existing network would still require addressing the emissions/issuance opacity and inconsistencies; because there is no use moving the existing network forward if the mainnet asset accounting remains opaque or inconsistent with what participants were led to understand. a minor deviation could be tolerated, but what currently exists is a substantial departure of the expected tokenomics.

while we have already begun work on a parallel pathway, the door is not completely shut to the possibility of a revival of the existing chain.

what we can say is that waiting passively on based labs is no longer a responsible strategy.

6/7

on claw/the parallel path:

in parallel, pepecoin has already begun contingency work on a cleaner path that can incorporate the existing based ecosystem without relying on outsourced development.

that work is claw.

claw is entirely a pepecoin initiative.

it is not being built by based labs, and has not had contributions from current or former based labs developers.

that distinction is important.

we have consulted with recent/former labs developers to better understand the viability of the current based network from a continued development, relaunch, and migration perspective. but claw itself is not outsourced to based labs, and is not dependent on based labs.

preliminary information has already been shared at claw.pepecoin.io, but significant development and refinement has occurred since then.

a more developed update will be provided there once it is concrete enough to share responsibly.

this does not automatically mean claw is the only path. but claw exists because waiting passively on based labs is no longer viable.

there is no point preserving labels just for the sake of it.

the goal is ecosystem continuity, accountability, and making sure the people who participated in based are not left stuck around a network that cannot presently be relied upon.

7/7

what happens next:

the immediate priority is not to make another premature promise.

the immediate priority is to determine the most responsible path for ecosystem continuity.

as part of this, we have been evaluating the following:

- can existing based balances, claims, and participation be preserved or extracted reliably?

- can the current based network be repaired in a way that is worth the time and risk?

- can the emissions/issuance issue be addressed transparently and fairly?

- would a migration/relaunch be required even if the current chain is technically repairable?

- is it better to pursue a cleaner parallel architecture that incorporates based participants from the beginning? or a mixture of the two.

though ideally an effective claw implementation would make a relaunch/recovery unnecessary.

we are not going to publish arbitrary dates, completion percentages, or immature mechanics just to relieve pressure in the moment.

doing that would repeat the exact pattern people are frustrated by.

what we can say is that we do not plan to leave the ecosystem in a stalled state.

on identity speculation:

as already mentioned, we are not going to engage in speculation around leaked personal identities.

it is important to recognize that any accountability avenues are not helped at all by turning the public chat into a doxxing and/or threat hurling thread.

what matters is conduct, records, representations, delivery, and the actual state of the network.

on accountability:

based labs’ obligations do not disappear because time has passed, because communication stopped, or because recovery/migration work is now being explored.

working on a path to protect the ecosystem is not the same thing as excusing what has happened.

substantial resources were provided to based labs with the expectation of delivery, oversight, and accountability. that oversight was not meaningfully provided, and we have been reviewing funding, representations, obligations, and partners. steps are being taken to pursue accountability through appropriate channels. those details will be kept private for now, but needless to say, based labs’ obligations, representations, and accountability do not disappear because communication stopped.

we understand why people want blunt answers. we also understand why people are frustrated.

we will continue to share updates as facts become concrete enough to communicate responsibly.

again, there is no active airdrop or migration. be vigilant of scammers. do not click random links, admins will not dm you first, and always check that you are in the correct groups/webpages.

kekmember this:

We are PepeCoin OGs.
We are Legion.
We do not forgive.
We do not forget.
Expect us. (and drop your @)

https://x.com/KEKUnleased/status/2092228167012413809

Check your INK wallets for LifeNodes, kek!

https://x.com/KEKUnleased/status/2095840939084218403

You can list your LifeNodes on OS now. Ink is the chain.
https://opensea.io/collection/lifenodes

It's written.

If you held LifeNode you will receive 1 AuraNode directly to your wallet and you will be on the allowlist to mint for the next 3 days.

https://x.com/inkednodes/status/2100722561034092843

frens are in control