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CAUSE OF DEATH

Perle's Concentration Collapse: A Cautionary Tale

Here we observe Perle, a token that achieved the remarkable feat of distributing its wealth with the equity of a medieval monarchy—96.1% of holdings concentrated in merely ten wallets. Despite revoking both mint and freeze authorities in a performative gesture toward decentralization, the creature succumbed not to technical failure, but to the gravitational pull of its own inequality. One might say it died not with a bang, but with a whimper of $23,576 in liquidity.

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