AzukiDAO changed its name to Bean and has raised US$10 million to issue 1 billion memecoin

AzukiDAO has announced a name change to Bean and has dropped the lawsuit against Azuki founder Zagabond over the $39 million minting incident. Azuki developers stated that the DAO will be renamed to the memecoin project and become part of the Ethereum Layer 2 Blast ecosystem. The developers also claimed that Bean has received $10 million in funding from well-known investors for its development and acceleration in the Blast ecosystem. Specific investors were not disclosed.

Bean stated that the proposed total supply of Bean memecoin is 1 billion tokens. 40% of the tokens will be allocated to its treasury, 50% will be allocated to Azuki DAO members, and 10% will be allocated to Azuki NFT creator Zagabond. Minting will only be available to Azuki NFT holders, who must mint within 24 hours of token issuance or face token destruction.