Industry leading layer 1 blockchains must collaborate on policy engagement, delivering a uniform message that regulatory clarity is needed beyond Bitcoin and Ethereum.

An attempt to bridge the gap between good-faith advocates of both networks and show how the two largest crypto networks’ development processes matter for long-term success.

The company said earlier this month it was close to restructuring without having to declare bankruptcy.

In an open letter, the firm said earlier offers were misrepresented and it wanted to deal directly.

DeGods will bridge over to Ethereum while its sister project Y00ts will move to Polygon with a grant from the layer 2’s partnership fund.

Bitcoin held steady throughout the Christmas holiday weekend at about $16.9K; most other major cryptos were flat, although tinted more green than red. Also: CoinDesk columnist David Z. Morris considers

The hack, which some observers had characterized as a rug pull, was estimated to have netted $12 million.

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The two started negotiations earlier this year and signed an initial agreement in July.

Computing power on the Bitcoin network dropped about 40% over the weekend.