Towns transfers operational management to the Swiss Foundation, with some co-founders stepping back

Towns co-founders Ben and Pat announced that after five years of collaboration with Brian, they have completed the transfer of protocol operations to the Towns Foundation located in Switzerland. The new experienced leadership team will continue to manage the protocol, drive the next phase of growth, and will gradually appear through official channels. The protocol will continue to operate as a decentralized communication protocol, supporting on-chain community ownership, end-to-end encrypted messaging, programmable identities, and native value transfer.

According to reports, Towns has accumulated over 1.6 million users and over 400,000 communities, with users expected to earn over $40 million through the protocol by 2025, and has completed listings on multiple mainstream exchanges. The protocol also supports real-time messaging, payments, governance, and $TOWNS network incentives. The team pointed out that building a sustainable company and building a protocol are different challenges, and in response to changes in the market environment, they chose to hand over the protocol to the appropriate team for continuation rather than shutting it down.

Both parties expressed their anticipation for the foundation to promote the development of Towns in the intersection of decentralized communication and AI. Pat and Ben will engage in new ventures while continuing to support the transition part-time, thanking the team, investors, node operators, exchange partners, developers, $TOWNS holders, and community members.