Japan’s DMM Crypto has announced the discontinuation of its Seamoon Protocol, ceasing new projects and reevaluating existing services. The Seamoon Protocol, which utilized the SMP token within the DM2 Verse on the Oasys layer-2 blockchain, faced significant sustainability challenges exacerbated by rapid changes in the business environment. Despite earlier plans to launch a stablecoin through a partnership with Progmat and major Japanese banks, development has halted. The company’s statement indicated that the upcoming Kanpani Girls Re:Bloom game, which was set to launch alongside other projects, will be phased out by January 31, 2025. DMM Crypto, linked to DMM.com, only recently entered the cryptocurrency space in early 2023 but has faced adversity, including a major hack of its DMM Bitcoin exchange worth $302 million in 2024, attributed to the Lazarus Group.

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