Ross Nicoll, a core developer of the Shiba Inu dog-memed cryptocurrency dogecoin, said he is stepping away from the project, citing "overwhelming" stress and a potential conflict of interest.
- The developer will remain as an adviser but is "handing over everything [he] can to the Dogecoin Foundation," he said in a blog post Wednesday.
- He stressed that his departure is not absolute or instantaneous. "I'd emphasize this is a change of role, and there's a transition period. I'm not suddenly gone" he said in a LinkedIn message to CoinDesk.
- Nicoll said he is stepping away "primarily [because] the stress involved is overwhelming."
- "There is a further complication that my employer for my day job is moving into the blockchain space, leading to a risk of conflict of interest if I remain as a director," he added. Nicoll is a software engineer at Google.
- The Dogecoin Foundation, which also boasts Ethereum co-founder Vitalik Buterin as an adviser, was re-established in August, having initially been set up in 2014 before being dissolved as it became inactive over time. The foundation's aim is to support dogecoin's development through advocacy, governance and trademark protection.
- "I have confidence in their ability to steer Dogecoin into the next phase, in a way that I do not have the mindset for," Nicoll said.
- The DOGE token was little changed, losing 1.7% over 24 hours to $0.147 as of publication time.
UPDATE (Feb. 17. 12:01 UTC): Adds second bullet with Nicoll's comment to CoinDesk
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