The record

ATMD, from 2017 to Metastability.

A utility token issued in 2017 has been through four technical homes in nine years. Each move had a reason, and each one is on the record. This page sets out what was built, when it changed, and why — in order, without interpretation.

2017 · Ethereum

Legacy Token V1

ATMD V1 was issued in 2017 by Atomind Holding (Nevis) Inc. under the law of St. Kitts and Nevis, on Ethereum. It was conceived as a means of exchange inside an ecosystem that was still being built: compute for AI models, 3D content, platform time, tools.

The contract was unusual for its date. It was among the first to carry offline wallet capability — hardware ledger and smartcard — at a time when almost every token assumed a browser and a hot key. That decision is the reason holdings from that era are still addressable today.

2019 · Solana

The move to Solana

The Ethereum contract was replaced by an issuance on Solana. The reasons were operational rather than strategic: settlement cost and confirmation time on the original chain had become disproportionate to the size of the transfers the ecosystem actually needed to make.

The token's character did not change with the chain. It remained the same utility instrument, carrying the same brand and the same absence of any claim against an operating company.

Then · Off chain

Moved off chain

The token was then taken off chain. Public-chain exposure had become the wrong trade: the holdings needed protecting more than they needed to be freely transferable, and an on-chain balance that anyone can watch is an invitation to anyone who wants to work on its holders.

This is the step that is most often misread. Moving off chain was not a withdrawal from the token — it was a decision to stop exposing it while the protective structure underneath was rebuilt.

2023 · Sidechain

Sidechained and staked — CDNT

In 2023 the holdings were placed on a sidechain (CDNT) and staked. Staking here is a security measure, not a yield mechanism: a staked position cannot be moved out from under its holder, which was the point.

That is also why transferability has been limited since. It is a consequence of the protection, and it is the condition the migration is designed to end.

Next · Migration

Metastability

Metastability

Metastability is Atomind’s flagship: the future ecosystem and the pinnacle of our open blockchain initiative, built with a growing consortium of independent stakeholders rather than alone. It will be governed through a DAO structure, and its release is expected in December 2027. The 2017 construction — a basket assembled when utility tokens were a new category — has reached the end of what it can usefully carry.

Holders of the legacy token will be offered conversion into Metastability. The rate will be set by Atomind and published in writing, with the reasoning behind it, before any conversion becomes binding. The conversion is funded from Atomind’s own allocation and is offered voluntarily.

The offer is limited to holders in the European Economic Area and the United Kingdom, who were not part of the buyback through which US holders were settled. Support for the legacy token ends by 31 March 2027 at the latest, and conversion is to have opened by then. That date ends the support, not the token: it does not expire, and it stays convertible into Metastability at any time once conversion is open. Nobody loses a position by missing a date.

Converted holdings carry a lock-up. Liquidity events are planned and will be announced once the final tokenomics are set. Conversion means conversion into Metastability; it is not a redemption for money.

What is still open. In line with the Metastability roadmap, the specification will be released after the genesis launch — including the final technology and further details, some of which cannot be disclosed yet. What stands here is an early preview of what is to come.

This is a plan, not a guarantee, and nothing here is an offer, a solicitation, or a statement about what anything will be worth.

Working paper · v0.1

What Metastability is being built to do

The demand case for underwriting tokenised value, the network model behind it, three sized scenarios and the token mechanics — with every input stated and open to challenge. A model, not a forecast: nothing in it is an offer or a statement about future value.

Read the paper

What it is, and what it has never been

Most of the confusion around ATMD is a question of category, not of conduct. In 2017 the utility token was a new kind of thing, and it was widely described — by people selling it, and by people writing about it — in the vocabulary of shares. It was never that.

What it is

  • A utility token, issued to be used inside an ecosystem
  • A stand-alone asset that carries the brand and nothing more
  • Currently staked, for the protective reason set out above
  • Issued under the law of St. Kitts and Nevis

What it is not

  • Not a share. Holders are not shareholders and never were
  • Not a claim on any company, its assets or its earnings
  • Not a bank account, a payment app, or a transfer facility
  • Not a currency in the ordinary sense of the word