A Letter to the DAG Family

Hello Constellation DAG Family,

It has been nearly 9 years since Constellation was conceived as a theory and through that time we went from theory into execution, from execution into production, and from production into something I never could have fully imagined when we started. Today I’m writing to share news that changes the trajectory of everything we’ve built together.

Constellation Network has been officially acquired by AIAI Holdings Inc. As of Tuesday, May 6th, we are effective under the eyes of the SEC, and shares of the AIAI Holdings common stock has been approved for a direct listing on the NASDAQ Global Markets and is expected to begin trading on May 14, 2026.

I’m going to let that sit for a second because I’m still letting it sit myself.

If you’ve been here since the beginning, you know this journey has had its ebbs and flows: both from the financial inflows and outflows of the industry and the intended application of the technology. We’ve navigated bull markets, the era of Silicon Valley Crypto experts of 2017, multiple bear markets, skeptics, the FTX fallout, the meme coin era, the NFT era, and an industry that at times seemed more interested in chasing yield than building real infrastructure. Through all of it, we kept building and we leaned into American and helped form policy for a future of our industry. We stayed faithful to the original vision that decentralized networks could serve real enterprise needs, not just Web3 feedback loops.

And you stayed with us. That matters more than I can express.

I want to walk through what we’ve accomplished together over these eight years, because every year mattered:

• 2017 — Formation — just a theory and a lot of conviction
• 2018 — Incorporation and initial token launch on Ethereum
• 2019 — First US Department of Defense contract
• 2020 — Launch of our native blockchain, Hypergraph, and Launch of Lattice Gateway ($LTX)
• 2021 — Top 100 cryptocurrency on CoinMarketCap and Dor Technologies acquisition
• 2022 — Launch of Mainnet 2.0 and US DoD | AFRL validated as “Secure, Scalable, and Approved.”
• 2023 — Launch of metagraphs (application-specific blockchains on Hypergraph) and shipping of our DePIN hardware — DTM
• 2024 — US DoD Phase II milestones, continuation, and hackathon sprints
• 2025 — Digital Evidence (API access to Hypergraph) and launch of Pacaswap, our decentralized exchange on Hypergraph
• 2026 — Acquisition by AIAI Holdings Inc. and listing on NASDAQ Global Markets

Along the way, we’ve been covered by NASDAQ TradeTalks, Entrepreneur Magazine, Forbes, Fortune, ABC, Hackernoon, CoinDesk, Cointelegraph, Blockworks, and DailyCoin. That recognition was meaningful. Not for the press clippings, but because it signaled that the outside world was starting to see what we’d been building.

The list of achievements goes on and now we add taking a company public as a part of AIAI Holdings Inc. In many ways, this is just the beginning. We have spent eight years building a scalable decentralized network, Hypergraph, purpose-built for enterprise adoption. We’ve developed metagraphs, shipped hardware, secured Department of Defense contracts, and proven that this technology works in production, not just in theory. That foundation is real and it’s battle-tested.

With the rise of AI, our organization is shifting to becoming an AI company with products that leverage the network we’ve created at the intersection of decentralized infrastructure and artificial intelligence. This is an important sentence - We are becoming an AI company with products that leverage our blockchain, Hypergraph. Not the other way around.

In a world where data becomes infinitely abundant, the critical bottleneck isn’t production, it’s verification. That’s exactly what we’ve been solving and we couldn’t think of a better narrative for our future than joining a holding company whose mission is to transform businesses with advanced technologies like blockchain and AI. That’s alignment, not coincidence.

For this next evolution of Constellation, and with the growth capital we will receive through the acquisition, we will grow our respective business units and products as we evolve into our AI skin. This will in turn advance the utility of our network. The roadmap ahead is the most exciting one we’ve ever had.

Our vision is alive and only getting stronger.

To the DAG family, I sincerely thank you for being on this journey with us and supporting us through so much innovation. You believed in this when it wasn’t trendy. You stuck around through the ebbs and the flows. You showed up. That’s not lost on me and it never will be.

It’s time for the next chapter.

Stay tuned. Onward.

Ben Jorgensen — CEO of Constellation Network X — @BenJorgensen