Exciting News! SoonLabs and Soonaverse Shift to Open Source: What This Means for You

Transitioning to a⁢ New Chapter for Soonaverse

By​ the close‌ of July 2024, SoonLabs will cease its operations. The decision, driven by ⁤financial limitations, affects ⁤the​ ability to sustain the Soonaverse⁤ platform ⁤and its associated overheads.

Sustaining Innovation Beyond Closure

The innovation behind Soonaverse extends beyond the platform itself. It is essential to acknowledge the broader initiative to transition ‍to a ⁣fully open-sourced framework. ⁤For more insight into⁤ this⁤ significant shift, we ​invite you to ⁢explore our detailed release on ​this evolution here: Open Source Initiative Announcement.

Though ​Soonaverse has been a non-revenue generating ⁣endeavor, its underlying⁢ technology has been crucial. To‍ date,⁣ all operational expenses have been borne solely ‍by SoonLabs. These include the integration and maintenance ⁣fees ⁣of various APIs that the platform relies on. With SoonLabs winding ‍down, a ​new team is anticipated‌ to‍ take over, tasked with crafting a viable operational and business ​strategy to ensure the project’s‌ longevity.

Envisioning Future Operations

Establishing a New Governance Framework

To ​facilitate this ‍transition effectively, the establishment of a new legal structure⁣ is⁢ imperative.⁤ This entity ⁢will need to​ manage all regulatory and operational ‍costs in ⁢the chosen jurisdiction.

Financial Outlook and Requirements

Monthly operational costs currently⁢ involve:

  • Google Cloud: $2,500
  • IOTA Nodes on Hetzner: $800
  • Cloudflare: $275
  • Algolia: ‍$650

Community ⁤Involvement and Transition

The responsibility of funding the Soonaverse infrastructure will shift to a​ community-based team committed to the platform’s⁢ success. This team must be a reliable entity ⁣known for ‌its integrity and operational excellence. ⁤Active discussions are ongoing to ‍identify such a team. Nonetheless, if ⁤a‌ suitable group‍ isn’t found within the‍ next 30 days, the Soonaverse will unfortunately have to shut‍ down.

Security ⁤of ‍Digital Assets

All non-fungible tokens ​(NFTs) and digital assets that have been created on the L1 Shimmer ⁤and IOTA networks remain secure. For those holding ⁢unminted digital assets within the Soonaverse, ​we⁤ recommend minting them on​ L1 to ensure ‌their preservation.

Ongoing Endeavors and Community Engagement

Our involvement in Buildcore operations ⁤and the broader‍ /justbuild⁣ community will persist unaffected. This ⁢announcement pertains only to the Soonaverse application. We are incredibly grateful⁣ for the ongoing support and ‌are excited⁤ about future opportunities to ‍innovate‍ and collaborate.

As ⁢we⁤ navigate through these changes, our commitment⁤ to our community ⁤and the broader ecosystem remains ⁣steadfast. Together, we will ⁤continue to explore and harness ‍new possibilities in this dynamic environment.

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