Alt.town applied to delist TOWN from Gate and Biconomy

Web3 virtual value trading platform Alt.town tweeted that it has decided to voluntarily delist the TOWN token from Gate and Biconomy as part of its transition to a platform and decentralized trading-focused model. It plans to concentrate resources on platform development to create opportunities for the next phase.

Alt.town stated that the project previously encountered a security incident, involving unauthorized transfers of unlocked team tokens from wallets managed through MetaMask, which were subsequently migrated with the assistance of supporting exchanges. Nevertheless, continuous financing and operational resources remain difficult to secure, with some exchanges supporting the termination, leading to a significant drop in TOWN's value.

Alt.town indicated that the next step will prioritize advancing platform usage and development as well as decentralized trading methods, preparing for a more open AI-enabled platform, and seeking opportunities for business sales, mergers, and collaborations. TOWN can still be traded on supported decentralized exchanges and used within the platform. The specific timelines and arrangements for each exchange have not yet been finalized and will be announced separately.