StandX Founder Declines TGE, Prioritizes Community Value Over Token Launch

Odaily Planet Daily report: Aaron Gong, co-founder and CEO of StandX, posted on X: “I want to be candid with everyone about our decision not to proceed with a TGE for StandX. Without external capital, our TVL peaked at $200 million. The team has achieved commendable results, but we still haven’t reached our goal of becoming one of the top three projects in the industry. Based on the project’s current fundamentals, we could technically proceed with a token launch. However, if we cannot deliver long-term value and instead rely on token issuance and short-term speculation for profit, we would be shifting the cost onto our users and community. That would be irresponsible—both externally and internally—and contrary to my values. Most of our past revenues have already been distributed to users via SIP-2 and SIP-3. For this airdrop, in addition to the project’s remaining surplus, I will personally contribute funds to give back to the community that has supported us all along. All user funds are secure. We will ensure an orderly shutdown and clearly communicate the timelines for fund withdrawals, the airdrop, and the cessation of all services. Thank you to every user and team member. I’m deeply sorry we didn’t reach the position we envisioned. We will do our best to close things out properly.”