Overview
- OCEAN and Luke Dashjr said they reached a mutual separation that was announced on Aug. 29, with Dashjr stepping down as chairman, chief technology officer and director and Mummolin repurchasing all his equity.
- Dashjr plans to launch a new project called CONVOY to push for decentralized mining, but CONVOY has published no code, endpoints, miner list, fees or operating details and its status is unverified.
- OCEAN said miners can continue to use its transparent, non-custodial pool and there were no reported service outages, custody events, or changes to its payout system after the buyout.
- The pool still directs a measurable share of network mining—roughly 2.5 to 2.9 percent of recent Bitcoin blocks—so any substantial miner departures would be visible but have not been observed so far.
- This change follows a months-long debate over block-template policy, including moves around BIP-110 and OCEAN’s DATUM system, and investors and partners such as prior seed backers and Tether’s committed hashrate give the split material stakes that should be watched for shifts in miner behavior.