AzukiDAO has been renamed to Bean, announcing a reconciliation with its founder and raising $10 million in funding

ChainCatcher news, according to Cointelegraph, AzukiDAO announced it has been renamed to "Bean" and has dropped the lawsuit against Azuki founder Zagabond regarding the $39 million minting incident. Azuki developers stated that the DAO will be rebranded as a memecoin project and will become part of the Layer2 project Blast ecosystem. The developers also claimed that Bean has secured $10 million in funding from "well-known investors" for development and acceleration within the Blast ecosystem, though specific investors were not disclosed.

Bean stated that the proposed total supply of the Bean memecoin is 1 billion tokens. 40% of the tokens are allocated to its treasury, 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 after the token release, or they will face "token destruction."