Executive Summary
After careful consideration and in light of persistent market conditions that have prevented sustainable development, Trrue Council Ltd ("TRRUE Council") hereby announces the discontinuation of support and operations for the TRRUE ERC20 token, known as 'TRC' and listed as '$TRRUE'. This decision, while difficult, reflects our commitment to acting in the best interests of our community and stakeholders. Effective 4 December 2025, TRC will no longer be actively supported by TRRUE Council, and all associated utility and any and all other rights will terminate as of that date.
Rationale for Discontinuation
Market Conditions and Project Viability
Despite concerted efforts since a failed launch, TRC has failed to achieve the market traction and liquidity necessary for sustainable operations. We have disclosed the details on launch conditions following the launch, we refer to that communication for further details about launch circumstances. Despite TRRUE Counci's continued support and commitment to the project, the broader market environment and community engagement levels have not evolved as anticipated. This lack of organic growth and market activity has rendered the continuation of token operations financially and operationally unviable.
Financial Overview and Accountability
The project has been significantly constrained by the financial impact of the token sale process, specifically:
- Refund Distribution: Following the launchpad token sales, Approximately 99% of funds raised to participants were not claimed, but refunded by the launchpads. TRRUE Council participated in this process, demonstrating its interest in the interests of the community.
- Remaining Allocation: The remaining 1% of proceeds was allocated to liquidity provision and market-making activities, with the objective of providing market support and fostering community-driven organic growth over a 12-month period.
- Operational Impact: The substantial number of refunds, although understandable considering the circumstances, have constrained our ability to sufficiently fund development and strategic initiatives. Any initiatives to increase token utility and improve market circumstances have not led to the desired results.
Transparency and accountability:
It is important to note that TRRUE Council has not called down any funds from our agreement with GEM Digital. Given prevailing market conditions and the evolving circumstances of the project, utilising those funds was determined to be neither feasible nor in the community's best interest.
It's also important to note that no founders or principals associated with TRRUE Council have received proceeds from the token sale or launchpad activities.
All stable coins obtained through token sales have been allocated exclusively to token sale costs, liquidity and market support activities for TRC.
The TRC token is financially not viable, because the costs associated with token operations prevent further capital allocation to development activities under the current market circumstances. Considering the past year it's unlikely that the market circumstances will change enough to fund the development of TrrueChain.
Implementation Timeline and Procedures
TRRUE Council will execute the discontinuation through the following steps:
- Exchange Delisting: TRRUE Council will initiate delisting procedures with Ascendex and Bitmart, removing TRC from active trading venues.
- Smart Contract Freeze: Upon completion of exchange delisting procedures, TRRUE Council will implement a freeze on the TRC smart contract, rendering the token inert and preventing further transfers, as well as destroy all private keys of admin wallets.
- Final Status: Upon completion of the smart contract freeze, TRC will possess zero utility, no active trading venues, and no utility or any and all other rights.
- Entity wind-up: Orderly wind-up of Trrue Council.
Clarifications Regarding Token Status
Effective the date of this announcement:
- No Further Utility: The TRC token will carry no utility, rights and/or purpose within any ecosystem operated by or affiliated with TRRUE Council.
- No Redemption Rights: Holders of TRC possess no conversion, redemption and/or any other form of rights capable of claim against TRRUE Council, its assets and/or its assignees or successors in title.
- No Ongoing Support: TRRUE Council will provide no further technical, operational, or financial support, together with any related and/or ancillary activities, for TRC, whatsoever and howsoever arising.
Support and Inquiries
For questions or support regarding this announcement, community members may direct inquiries to: hello@trrue.net
Conclusion
TRRUE Council regrets the need to make what is a necessary decision. It wishes to extend sincere gratitude to all community members, supporters, and stakeholders who have participated in and contributed to TRC and the overall project. Your engagement and support have been invaluable, and we recognise the impact this decision may have on you.
This decision reflects our commitment to acting responsibly and transparently during a period of challenging market conditions. We appreciate the community's understanding as we navigate this transition and wish all participants the very best in their future endeavours.
We understand that the notice period is short, which is done to prevent token manipulation during the notice period.
TRRUE Council Ltd
2nd of December 2025