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CAUSE OF DEATH

Toly's Dog: A Liquidity-Free Tragedy

Here we observe the cadaver of Toly's Dog, a token that achieved the remarkable feat of concentrating 100% of its holdings among merely ten beneficiaries—a mathematical oddity that transforms decentralization into a rather elaborate game of musical chairs. With zero liquidity and volume measured in pocket change, this creature expired not with a bang, but with the faintest of whimpers: $0.76 of trading activity.

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