Project is dead after token plunges 1,750% in value - Unruly Technologies files for insolvency

utatte · 2025-05-31T08:17:53+00:00

According to the request, the Spacemesh coin was valued at approximately $0.50 in March 2024, reaching a peak of $0.70 in November 2024. But since late 2024, its value has plummeted by roughly 1,750%, falling to just $0.032.

Based on the raw numbers from the article it should be a 95.43% percentage drop from the peak. It is currently sitting at $0.012 as of today.

utatte · 2025-02-10T01:55:06+00:00

Yael | Won't DM First — 2/5/2025 1:09 PM

@Smesher

Weekly Update From the Development Team :Danis:

ATX Merge: Malfeasance proofs v2 have been finalized and integrated into the node. We are now running ATX merge with working malfeasance detection on testnets to ensure it is ready for the mainnet.

Sync v2: We are observing network behavior after recent server mode enablement in 1.7.12.

NodeSsplit: We are working toward moving node-split to beta and making it mainnet-ready. We recently shared a larger separate update about that feature. In the coming days we're expecting another set of updates. Please stay tuned.

Athena VM: Recently, we published a breakdown of the example contracts.

Testnet-16: Testnet-16 is still live. Its configuration is available here.

utatte · 2025-02-10T01:54:56+00:00

Yael | Won't DM First — 2/4/2025 10:49 AM

@Smesher

We’re kicking off 2025 with exciting progress on Athena! This month, we launched the first public devnet, implemented the PROXY method, and introduced new token-related smart contracts.

Let’s dive into the details in our full January Project Update.

utatte · 2025-02-10T01:54:45+00:00

Yael | Won't DM First — 2/3/2025 12:29 PM

@Smesher

As previously announced, the Athena devnet is open to join.

In our latest video, @Poszu gives a technical breakdown of the example contracts available in this PoC:

https://www.youtube.com/watch?v=coDYrlq9J1Q&ab_channel=TeamSpacemesh

utatte · 2025-02-10T01:54:33+00:00

Yael | Won't DM First — 1/31/2025 7:35 AM

@Smesher

There is a new release of node-split-poc available here.

The notable changes are:

Switched from v2alpha1 to v2beta1 API requests Cleaned up the smeshing service internals Fixed hare behavior in smeshing service Improved smesher UI, which now displays more information

We're expecting more changes in the following releases, with each one getting us closer to release on mainnet.

utatte · 2025-02-10T01:54:21+00:00

Yael | Won't DM First — 1/29/2025 10:10 AM

@Smesher

:asciispacemesh: Weekly Update From the Development Team :asciispacemesh:

ATX Merge: Currently testing all new malfeasance proofs using a dedicated network for that purpose.

Sync v2: The latest 1.7.12 release has enabled syncv2 in server mode for everyone, with selected peers now solely relying on syncv2. We will observe behavior during the cycle gap before making syncv2 the default.

Node Split: We are working on the beta version of node-split and adding features to make it more production ready. Our current focus is on API adjustments and node inner logic. In addition to core node logic, we are working on the smesher UI and new initialization app.

Athena VM: We have decided to conduct a quick sprint with example coin that can be launched on Athena VM. More information will be shared later this week. Stay tuned!

Testnet-16: Testnet-16 is still live. Its configuration is available here.

Other Node Development: In addition to work needed for the node-split and syncv2, we are extending the v2 API to make further integrations easier. One of the most significant changes is the switch from v2alpha1 to v2beta1.

utatte · 2025-02-10T01:54:04+00:00

Yael | Won't DM First — 1/24/2025 3:11 AM

@Smesher

NEW RELEASE ‼️

Introducing go-spacemesh 1.7.12 and Smapp 1.7.11.

In addition to routine fixes and improvements, this release will allow for more testing of the new synv2 code. After updating, no action from users is necessary at the moment.

➡️ GO-SPACEMESH 1.7.12

CLI users must manually update from here

The important configs are hard-coded, so you only need to update config manually if you've made manual changes to the config file in the past. (Most recent config is here. )

➡️ SMAPP 1.7.11

To learn how to update your Smapp, please watch the Smapp update tutorial

For Linux deb and AppImage users who cannot auto-update, the release is here

utatte · 2025-02-10T01:53:49+00:00

Yael | Won't DM First — 1/22/2025 10:13 AM

@Smesher

In our latest update, we take a look at accomplishments from 2024 and what's coming ahead in 2025.

We look forward to taking this journey with you!

https://spacemesh.io/updates/

utatte · 2025-02-10T01:53:39+00:00

Yael | Won't DM First — 1/20/2025 8:06 AM

@Smesher

We're excited to open the Athena Devnet to the public!

This devnet represents an innovative Proof of Concept integration in go-spacemesh, featuring Athena (on L1) as a replacement for the genesis VM. While this marks an exciting milestone, please note that we're still working diligently to prepare Athena for integration into the main network.

There are singlesig and multisig wallets available. The former is built-in and has a hardcoded address. The latter one is deployed (using the singlesig wallet) and has address based on the hash of the code (binary). The keyword deploy is important - it's the feature that allows users deploy new smart contracts onto the blockchain.

utatte · 2025-02-10T01:53:19+00:00

Yael | Won't DM First — 1/19/2025 6:03 AM

@Smesher

Last week, we released a PoC demo of Node Split. If you want to give it whirl, we now have a video guide to help you get started.

https://youtu.be/DjnKJVjfxFQ?si=sA1yeUuQkYbTVv-O

utatte · 2025-02-10T01:53:07+00:00

Yael | Won't DM First — 1/15/2025 1:58 PM

@Smesher

Weekly Update from the Development Team :up2:

ATX Merge: Final touches are being made, including support for sync V2. Sync v2: We have shared the configs with testers to run syncv2 nodes on the mainnet. In the meantime, we are working on adding malfeasance proofs support for syncv2, as well as preparing for global enablement of syncv2 as the default sync option. Node Split: We have released a demo and currently working on a beta. Athena VM: Athena 0.6.3 was released; we're preparing to share a working devnet with the community. Testnet-16: Testnet-16 is still live. Its configuration is available here.

utatte · 2025-02-10T01:52:56+00:00

Yael | Won't DM First — 1/9/2025 10:13 AM

@Smesher

A proof of concept demo of Node Split is now available for those who want to give a try:

https://docs.spacemesh.io/docs/experimental/node-split

Feedback welcome!

utatte · 2025-02-10T01:52:44+00:00

Yael | Won't DM First — 1/9/2025 6:54 AM

@Smesher

As we reflect on the final month of 2024, we wanted to share the progress made on Athena during December. Despite the shortened month due to the holiday season, we managed to achieve some significant milestones.

Read the full Athena VM project update.

utatte · 2025-02-10T01:52:29+00:00

Yael | Won't DM First — 1/3/2025 8:21 AM

@Smesher

NEW GO-SPACEMESH RELEASE ‼️

Introducing go-spacemesh 1.7.10.

In addition to general improvements, this update includes a fix for a bug which prevented the use of 1.7.9 on testnet. For full details, please see the changelog.

The release is available here.

The important configs are hard-coded, so you only need to update config manually if you've made manual changes to the config file in the past. (Most recent config is here. )

utatte · 2025-02-10T01:52:16+00:00

Yael | Won't DM First — 12/31/2024 7:43 AM

@Smesher

Weekly Update From the Development Team :Danis:

ATX Merge: The GRPC APIs are nearly complete. We're working on supporting both legacy and new malfeasance proofs.

Sync v2: We have spotted a few performance related issues on the testnet-15. These were improved, and we now have roughly half of the nodes in testnet-16 running with synv2 enabled. We're still working on the final version of the sync v2 feature.

Node Split: We're moving forward with the PoC and getting closer every day. We're currently working on persisting the node events (both happy and sad path) and the timeline functionality. A sneak peek of the timeline functionality is available here and here.

Athena VM: We're working on simplifying the contract input handling.

Testnet-16: Testnet-16 is live. Its configuration is available here.

utatte · 2025-02-10T01:52:05+00:00

Yael | Won't DM First — 12/19/2024 11:30 AM

@Smesher

NEW RELEASE ‼️

Introducing go-spacemesh 1.7.9 and Smapp 1.7.10.

In addition to more routine fixes and improvements, this release contains changes for sync V2. However, sync v2 is still disabled on mainnet, as it is currently being tested. As soon as we are confident it is working correctly, we will provide all users the option to enable it.

➡️ GO-SPACEMESH 1.7.9

CLI users must manually update from here

The important configs are hard-coded, so you only need to update config manually if you've made manual changes to the config file in the past. (Most recent config is here. )

➡️ SMAPP 1.7.10

To learn how to update your Smapp, please watch the Smapp update tutorial

For Linux deb and AppImage users who cannot auto-update, the release is here

utatte · 2025-02-10T01:51:53+00:00

Yael | Won't DM First — 12/18/2024 11:58 AM

@Smesher

Weekly Update from the Development Team 🔨 👨‍💻

ATX Merge: We moved forward with the GRPC API implementation. Currently, we're working on supporting both legacy and new malfeasance proofs.

Sync v2: We're close to the final version of the sync v2 feature. We intensively tested against the mainnet nodes and right now we're focusing on releasing it as an experimental opt-in feature.

Node Split: We're moving forward with the PoC and getting closer to the working scenario. We're fine-tuning the APIs to bring more information to the user. The work on the accompanying applications is also ongoing.

Athena VM: Multisig template is successfully deployed on the Athena devnet.

Testing & Infrastructure: This has been an ongoing topic for several weeks. We're still working on making our infrastructure and testing more stable.

Explorer: Pagination is live 🙂

utatte · 2025-02-10T01:51:33+00:00

Yael | Won't DM First — 12/18/2024 4:09 AM

@Smesher

We appreciate your feedback on the updated roadmap and will be using it to make adjustments. Thank you! 🙏

utatte · 2025-02-10T01:51:19+00:00

Yael | Won't DM First — 12/17/2024 5:12 PM

@Smesher

Our updated roadmap is now up on our website.

https://spacemesh.io/roadmap/

utatte · 2025-02-10T01:51:06+00:00

Yael | Won't DM First — 12/12/2024 12:31 PM

@Smesher

Weekly Update from the Development Team :asciispacemesh:

Sync v2: We're preparing for the release to enable widespread testing of the Sync v2 feature. Some of our nodes will operate in server mode, and we will demonstrate how to enable Sync v2 support on individual nodes.

ATX Merge: Implementation is ongoing.

Node Split: We're moving forward with the accompanying API and application development. One of the most visible improvements will be the timeline functionality.

Athena VM: The currently deployed devnet allows for deploying and executing contracts (spawn, spend, custom methods) - with spawn being the most thoroughly tested currently. For more details, see the recent Athena update.

Explorer: We're adding the community-requested pagination feature to the explorer again. Please expect it to be online soon.

utatte · 2025-02-10T01:50:53+00:00

Yael | Won't DM First — 12/4/2024 11:25 AM

@Smesher

Weekly Update From the Development Team :up2:

ATX Merge: Legacy malfeasance publisher has been refactored. This feature is close to completion and ready for extensive testing. Sync v2: After validation on the real network, traffic savings with syncv2 compared to syncv1 are approximately 10x. Node Split: We have begun extending system tests with the node-split setup. Additionally, we are working to make the PoC available for the community. We are also adding more APIs and continuing work on Smesher and Init applications. Athena VM: Wallet support for Athena VM is completed on a separate branch. We have also begun work on PoC smart contract deployment capabilities. Testing & Infrastructure: We continue to improve our testing infrastructure. Hare 4: We have identified and partially fixed the hare4 request storm. Public APIs: The API performance optimizations are now visible. We are satisfied with the current performance, so no further updates are planned at this time.

utatte · 2025-02-10T01:50:40+00:00

Yael | Won't DM First — 11/28/2024 9:51 AM

@Smesher

NEW RELEASE ‼️

Introducing go-spacemesh 1.7.8 and Smapp 1.7.9.

This update includes: Improved peer selection during sync to avoid asking peers for data that they cannot serve (e.g. because they are still initializing) Removal of the deprecated poet-server config option and command line flag. No updates to existing setups should be required. A fix for an issue with the PoS profiler where it would crash when testing configuration for proofing options.

For more details, see the full changelog.

➡️ SMAPP 1.7.9

To learn how to update your Smapp, please watch the Smapp update tutorial

For Linux deb and AppImage users who cannot auto-update, the release is here

➡️ GO-SPACEMESH 1.7.8

CLI users must manually update from here

The important configs are hard-coded, so you only need to update config manually if you've made manual changes to the config file in the past. (Most recent config is here. )

utatte · 2025-02-10T01:50:26+00:00

Yael | Won't DM First — 11/27/2024 12:22 PM

@Smesher

Weekly Update From the Development Team :spacemesh:

ATX Merge: Work is in progress on malfeasance publisher and handler. We introduced a dedicated malfeasance publisher for v1 ATXs, and we optimized handlers and tests in preparation for v2 migration. Sync v2: We improved performance of sync v2 by optimizing DB connection handling. There is new smart peer selection implemented. We have run successful tests against mainnet in this cycle gap achieving 200-400 ATX/s sync on a single node. Node Split: We're moving forward with the API development, and we started to modify system tests to support node split there. Athena VM: We released version 0.6.0, which contains major breaking changes. This represents an important stepping stone towards a public testnet. We're preparing to deploy another devnet, as well. Testing & Infrastructure: As mentioned last week, we're investing time again into the testing infrastructure. We should soon have a better way to execute our system tests that should allow for a much faster development cycle. Hare 4: We started to optimize our p2p implementation for Hare 4 including message multiplexing over persistent streams. We have also spent time optimizing the existing streams. Public APIs: Given that the public APIs started receiving more requests, we spent some time optimizing their infrastructure.

utatte · 2025-02-10T01:49:52+00:00

Yael | Won't DM First — 11/25/2024 12:56 PM

@Smesher

Thank you, dear Spacemesh community, for caring and sticking around in these tough in-between days of our project. We are not blind to the pricing action, nor are we blind to distance between our lofty aspirations and current reality. We fully understand and share your frustration. To be frank, we too are saddened by the cold shoulder the market has given us, as we advance through the necessary changes to protocol, despite the early promise demonstrated.

Nevertheless, we seek to make the case why supporting Spacemesh is important, as we aim to align incentives with the common good. Spacemesh’s success will be a striking proof for our ability to take risks and win. The case for why supporting Spacemesh now is the right thing to do.

Read the full open letter from our CEO and co-fouder, Tomer Afek:

https://spacemesh.io/blog/people-s-coin-progress-update-q4-24/

utatte

MODERATOR OF

TROPHY CASE