Decentralized SNS P캐스터 commits to returning the full amount of $180 million invested

2026-01-24 01:23:16

Source: DigitalToday Original Title: Decentralized SNS P캐스터 to Fully Refund $180 Million Investment Original Link: https://www.digitaltoday.co.kr/news/articleView.html?idxno=623677

Decentralized social network P캐스터 will continue operations even after being acquired by Nainer, and it has been reported that the project plans to fully refund the $180 million investment.

P캐스터 co-founder Dan Romero emphasized in a community announcement that the project is not ending and will proceed in a developer-focused direction with Nainer’s support.

P캐스터 is a decentralized social network protocol that allows users to own their identity and connection networks on-chain. As of December last year, it recorded 250,000 monthly active users.

Romero stated that Nainer will continue to maintain and develop the P캐스터 protocol, while he and some team members will move on to new projects.

Merk Manufacturing, the developer of P캐스터, received a $30 million investment from a16z Crypto in July 2022. In March 2022, it was valued at over $1 billion in a funding round led by Paradigm.

Romero said, “Merk has been developing for five years, and to responsibly manage the invested funds, we plan to fully refund the $180 million we have received.”

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.