Renounce

29 August 2025 - Smart Contract Ownership Renounce Date

The blockchain was created with the goal of allowing digital information to be recorded and distributed, but not edited. This allows the data held in that database to be spread out among several network nodes at various locations. This system helps to establish an exact and transparent order of events. In a trustless environment, there is no single entity that has authority over the system, and the consensus is achieved without participants having to know or trust anything but the system itself.

Since its inception, IFNET has been a proponent of transparency and confidence. We recognize that investors are at the core of this partnership and deserve the right to confidence and financial security. Thus, we will apply this trustless model to our ecosystem by renouncing ownership of the smart contracts which are the heart of the project. The renouncement of ownership is an important step in ensuring that none of the basic tenets of the smart contract can be modified. This will serve to further decentralize ownership and guarantee the integrity of the project.