News

ACT Holdings Fully Distributed, Destroyed, or Sold by Developers

Key Points:

MP announces he has fully distributed, destroyed, or sold all ACT tokens issued to him.
The developer shares the pressure and harassment from the community, citing misgendering and requests to lock tokens.
AMP offers help for the ACT community to transition to a new brand with token upgrades via a new contract.

AMP, the developer of the quite controversial project ACT, just released a statement considering his position in the ACT holdings.

AMP Announces Complete Disposal of ACT Holdings

In a post shared on X, AMP says he distributed, burned or sold all ACT tokens previously issued to him. That comes amid increased pressure from the community and frequent harassment by people who asked him to lock up his tokens or extend the token’s holding period.

AMP said it’s a relief to have rid himself of the ACT tokens, emphasizing the damage they had caused him regarding his mental health and inner peace. He said there’d been stress, especially with many requests and misgendering from some in the community, so he repeatedly asked them to stop. “Holding this token puts me under a lot of pressure,” AMP explained, saying that for him, it is all about well-being.

ACT Community Offered Path to Rebrand and Upgrade Tokens

Beyond distancing himself from the token, AMP offered to help the ACT holdings through a rebranding process. While the Pumpfun token cannot be altered itself, AMP indicated that the holders of the token could deposit their ACT tokens into a new contract so they can upgrade to a new version that fits with a refreshed identity for the project.

This move represents a sharp turn in the ACT project, and AMP has expressed the hope that it will allow him to break with the severe troubles of the past and enable the community to move into a new chapter. His post showcases how tough being a crypto developer can be; not just on his expectations for the community, but on a personal level regarding his well-being. It may also signal changes toward the project’s future direction in redefining its goals and image.

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Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.