Following the antics of those in charge of the Crypto Cobras server, some (but not all) of those who requested a refund for their allocations have been sent their money (albeit, not all of it).
This was a promising sign that people who wanted out would be made whole and could move on to wherever their crypto/financial journey took them.
However, there are more pressing issues now at hand:
“Leavers” were told that pledges that had already been partially vested would not receive their USDT value returned and would instead receive the token allocations at the time they were due to be released, thus presenting us with the first problem:
They are reliant on those who run the server to concur with the release dates and send the tokens to those who are owed them.
Concordantly, this leaves individuals who remain with the server open to more deceit and delays in spite of the fair warning that was given to them i.e. the original Medium article linked above.
This bothers me. Likely more than it should.
I originally said that I did not care whether people stayed or left the server. After all, only they are accountable for their wealth and if they continue to fall prey to uncorroborating stories then that’s their own problem, surely.
Yet, I started this. So is the onus not on me to ensure that everyone is fully aware of everything that goes on behind the scenes?
Well, as you probably guessed, that’s why you’re reading this article.
As I understand it, certain measures are now being implemented in to the presale allocation process to allow for better cohesion in the future. Nonetheless, there is still no such protocol in place between the server owners and the individual(s) who present them with the opportunity in the first place, thus leading us to the second predicament:
There is too much trust placed in the liaison/plug to see the token distribution through to fruition. People are placing vasts amounts of their capital to presale opportunities which is then sent blindly to these individuals in the hope that nothing will go awry.
In addition (and leading us to problem number three), there is very little or zero continuity from the server owners to ensure that the presale plug completes the allocations in the correct time frame and according to the release schedule dictated by the project.
Let’s take, for instance, Boson Protocol.
I’ll use this example as it is a presale that I was involved in and appears to be quite notorious for its vesting shortcomings.
As of 22/07/2021, pledgers are two allocations short. Those allocations reside within the Master Wallet (more on the Master Wallet in the previous article) and have been there since they were sent out by Boson:
As of 01/08/2021, pledgers will be three allocations short.
There is no emphasis or effort being made by the server owners to procur these tokens from this wallet and people enquiring about it are being spoon fed lies or deflectionary responses leading to the same inescapable outcome as before: complacency.
Don’t ask too many questions. Don’t create too much FUD. Don’t pester the server owners because they are inundated with work and “dev meetings”.
This sounds all too familiar, to me at least, and I clearly have a personal vendetta against the owners for slandering and besmirching my brother-in-law and two of my friends for things they undoubtedly did not say nor do.
However I realise I am veering away from the direction of why I wrote this text so I’ll say no more on that.
Suffice to say, things are not as they should be and it seems as though many of you have not learned your lesson.
How are you supposed to trust someone with your money when they tell you one thing and do another? When you cannot openly express your sentiment towards a situation without running the risk of being shut down?
The answer is: you don’t.
There is a not-so-ancient parable from Vladamir Lenin that says “doveryai, no proveryai” (“trust, but verify”) and you’ve all heard the crypto equivelant many times - a statement that is no different now than when you read it for the first time:
“Don’t trust, verify”.
This applies to you, the reader, too. How you so haphazardly forgot.