Everyone: I’m working on a new thing full-time. It started as a Birthday Labs project, and has become its own larger thing, and will be taking all of my time. Rather than prolonging the inevitable, I want to be clear: the new thing is a separate company and product. With a team. It’s not a rebrand or migration. People who previously bet on Native as a bet on me, and because of that tie, there’s a lot of frustration and anger and I get that. I’ve made a lot of mistakes over the last year, and I hope there’s some understanding there from you all. It’s hard. There’s also a lot of folks who are excited about what’s next and they trust me to do right by Native holders. That’s my plan. I will continue to use my personal capital to buy Native. I want to find ways to reward that belief in me, as it’s allowed me to build over the last year. But I’ll be honest: I won’t make new promises about it. What I CAN promise is that I’m *personally* invested in finding the best path forward for people who have supported me via Native. And I’ll prove that. What I can also say for certain: • Native holders will receive access to the new product, which is built • Snapshots are being taken so I have a record of who supported Native, and me The new direction: infrastructure with a dataset that doesn’t exist onchain yet. While not related, it’s in the same domain as Native: mirroring our economy onchain. For Native, I’m happy to work with folks who want to work on the idea. There is a TON of code written for Dots, agents, and the Native context. I’m happy to open-source it, hand it over, etc. if there’s a plan in place. I’m happy to help fund the costs of running it. I’m happy to give over fees to a new group. There’s still a path forward for Native as a project if the community wants it. There’s no easy way to “wind down” a project when there’s an associated token. There are a lot accusations and frustrations and misunderstandings. I hope that when you step back, you see that I’ve: • Used my real identity so that I have to directly deal with this head-on. • Constantly been communicative (the best? No, but I’m here.) • Open to feedback and ideas here • Tried to do the right thing with my ownership • Pushed through difficult times that made it hard for Native, including Base, Clanker, and Farcaster turmoil over the last year. Once again, I’m so very grateful for those of you who understand the difficulty here, and who have been supportive. Thank you.

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Dot’s screenshots taken off X I always thought Dots were world-beating innovation in this space, conceptually An agent is dealt a hand that manifests as a persona in the agentic interface

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about a week since the $native debacle idk what to think at this point probably infra challenges + comms were weird … but the whole market has crashed anyways, so move on still think the Dots would have been legendary tho

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4 days after we found out that Native wasn't supposed to reach this market size. What dreams were shattered.

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found this guy in the $Native deep dive guess it was a prototype Dot for some guy named ‘dotfinn’ who was a /nativefun reply guy : )

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Went through all the $NATIVE comms to try to piece together a timeline of what happened here, gonna add in these receipts in replies (1-10), the telegram convos are copied into those subcasts. yes it's long, this is meant to be a trail of 'what happened' backed by the official comms across X, FC, and Telegram. (1) $Native launched on Clanker Nov 24, 2024 under Birthday Labs, a Delaware C Corp, a corporate entity that is owned by another US-based LLC, which is owned by derek and his wife (2) main innovation said to be launched (was never launched) is the Dots, an agentic economy that would use $Native as the main currency: $Zorro, $Balloons, and $Panes were also launched as Clankers under Birthday Labs. see the attached image for what the main concept is/was. comms were active all through 2025 on main accounts until November 2025. (3) @phuzylicious asked on X on Oct. 9, '25 - "Dots ship in 2025?" to which the @nativeonbase X account (run by derek) replied "yes" (4) Derek was running shows on DenDotTV and Pinetree about Native, etc up until Oct. 26 '25; there is a tweet with $NATIVE as the ticker on Nov. 26, '25 where he tagged @ itsbasil ($SKY) and @ fffflood ($OPSYS) on Thanksgiving, which is while he still had it active on his twitter bio (5) Casts about the first "Snapshot" for $NATIVE holders was taken for token holders in late November, with a second "Snapshot" promised in the near future (6) Nov. 30, 2025 - to commemorate the 1 year anniversary of the token, tweets and casts about reflections on $NATIVE, derek mentioned that he has locked another 1% of supply in Hedgey, bringing locked supply up to 2%. Removes reference to $NATIVE from twitter bio. In the metadata prior to Thanksgiving on the referenced farcaster cast, you can see it was still in his twitter bio prior to Thanksgiving (7) There are some casts and replies alluding to issues with the cross-compatibility of mini apps between Base and Farcaster, along with how this is correlated to the opportunity with $NATIVE - reference wording is "hint for those clamoring for any kind of news" in this channel. There is a big discussion in this thread with multiple fc builders about challenges with the "infra" layer here around mini apps. Discussion of "builder compatibility" issues with different clients. Relevant to the coming Telegram convos below (8) "We've been cooking" tweet on @nativeonbase X account on Dec. 18 '25 alludes to project activity, request is made for developers to develop mini apps in the Dots ecosystem. derek reposts the the same on farcaster. (9) “$NATIVE holders are early to the vision. That’s going to matter.” Tweet on Jan. 18 ‘ 26 via nativeonbase account. Indication of reasons to believe imminent activity is coming “The first of two snapshots was taken in December. The second hasn’t yet, and will not be announced. Big weeks ahead.” (10) Dev job announcement for a new company on Jan. 30 ' 2026 in the late afternoon referencing a "team" but unclear for what company. Signal boosted by some builders. Hours later, the $NATIVE ticker would collapse in what will be referenced below from the Telegram conversation where the revelations were made about what is happening.

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phuzy was one of the good ones on here feel especially bad for him, if there is one guy I would love to see someone run it back for ...

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I still can't believe Derek abandoned the Native project. I had been holding the Native token for almost a year. I was eagerly following YouTube and new information coming out of Native. I am sure that many stages of the project had been completed and we had reached the end point. I still don't know what happened to get us to this point and I am in shock.

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Good Night, and Good Luck.

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Almost 48hr. A lot of things happened and a lot more have been said. I have decided that I have faith that Derek good to those who supported him through this project. We will wait and see. If he does, all of it will come back to his favor. If he doesn’t. Well I guess he just proved most people right then?

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$NATIVE is not dead. its gotta get build for my vibe-dating app oh and my two favorite coins: NUDIE MAGAZINE DAY, and the INFOMERCIALS

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https://x.com/FuzzyBull/status/2017802584141312340

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the gaslighting will continue until morale improves https://farcaster.xyz/listen2mm.eth/0xdb2b2901

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Great take from @mj41fantastican.eth. So much of this resonates right now. Thank you for your thoughts and being able to see the nuance here.

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my big take the biggest hit i can remember, but its cuz it was the biggest shot to take at the time. Moe, you seem like a real one, you too jdot, you're the kind of people anyone would be lucky to have at their backs. sometimes the people who support things are such a turn off that it ruins my view of the project itself for some reason, but your support made me feel like i was in on something real, and i still do feel native is real. i mean he worked on it for a year ffs. to throw all that hard work away is just not what humans (the building type) do naturally however, lets not toss $NATIVE and the @derek into the same crypto cess pool as MANY other blockchain projects. i dont think people here on fc (for the most part) have such an evil disposition like those of other platforms (looking at you pumpfn.) he was pretty thorough and professional through the entire course of the project. i actually met with him on video conf.... just that alone, what other project dev invited people to talk to them. Only time i've seen that is when the dev is international, conveniently 8,000 miles away. i would say this isn't broken trust issue, this is a capitalism issue. capitalism looks like it sucks, but straight-line trajectory only exists in a flash. there are failures and victories, and most we never hear about. the bottomline is that a year went on and things evolved as they do. transparency sounds great, but its a difficult play because a business can never truly be fully transparent, its just not safe to do that. the boss still needs to determine what is best kept private. so for the communications not being to anyones liking: like what do you expect? are those expectations fair? have you tried to implement anything similar? obvs the project is really complex, and perhaps either a bit early for agentic ai or early in funding who knows... maybe it is just such an enormous project that it cant evolve this current way its going. maybe he was like you know what can be better... then went with that cuz well its better. who the F knows, but this just doesn't feel like a scam. i know scammers, been beating them up all my life. this has no familiarity with any scam im familiar with. What he is NOT saying He is not explicitly saying: -“Native is dead.” -“We are shutting down the site/contracts.” -“The token is worthless.” -“I’m walking away and won’t engage.” no formal shutdown hereWhat he IS saying tho He is saying: -He is no longer building Native as his main job (we all need/want better jobs) -Native will not be the same thing as the new product (this is important) -Native’s forward progress depends on others stepping up (I can steer the ship under the right circumstances, feel free to reach out. transitional leadership is actually right up my alley.) ok, now the dad in me has to say something to anyone putting their entire savings into $NATIVE (or any token)... for the love of GOD(s), your god, their god, all the gods, DONT DO THAT EVER AGAIN. seriously i dont care how good an idea is, what you're doing is gambling and its dangerous to do that with your LIFE SAVINGS!!!! If you want recklessness in the efforts to get rich quick then sell drugs. your family will be much happier. the risk there is jail, not $0 money for the kids. fuqn read security analysis by graham, and read margin of saftey by seth klarman... and DO EVERYTHING YOU READ. if you're bothered by my message, im bothered by your actions. just read the book and lets go have a beer someday and talk about it. as for @derek and trust, he did mention he was still going to buy $NATIVE so i will take that as the "MASTER PLAN was adjusted", and based on how he carries himself in other ways that we can see, he just doesn't fit the scammer bill. he also mentioned wanting best for his native supporters and will find ways to thank them in future projects. <~ this is business talk. not scam talk. good capitalists realize that you gotta make people happy and if you do it properly that can turn into a flywheel for a next project., even your career. im doing the same thing with my copper token project. I started something, a great fuqn idea btw, but the only way to learn how was to do it (thats the only way i know how to learn. and on such a smaller scale when comepared to $NATIVE, it barely relates, but it does relate) so all of that led me to plan better for v2. The 70-80 something holders I have are like the loves of my life. i want to make them so fuqn happy that my next project has their past support in my future focus. i got this from his cast, and that's a big tell. he's one of the good guys. no criminal or scammer tells you where they work. they dont say anything real, they hide under bridges or something like the trolls they are. in conclusion think many of us here want to build/support great shit and make a ton of money, whilst having fun doing it. for real builders, imo, the fun comes when everyones happy. I think native dev understands that. i think most of us here on farcaster do too, most of us just havent had that kind of early blessing in MC and attention. im still in on native, and until its dead, fully, im going to support it. tl:dr this didnt hurt the industry, this is pretty normal what affects the industry is how we react to it.

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