I’m a long-term investor in MPL and currently hold over 600 tokens that were never converted. As someone who only checks in on finances a few times a year, I unfortunately missed the window for the conversion process.
I’ve enjoyed being part of the project and am interested in investing further, but I’m hesitant to continue without resolving this issue. I’d really appreciate the opportunity to work together on a solution.
Please let me know if there’s any way to move forward with this. I’m open to discussing options and providing any information needed.
Hi Ene, who are you going to sue? Don’t get me wrong in my opinion at least on an ethical level the DAO has made a wrong desicion. That being said, I guess our only chance is if the DAO decides to include again a large part of the investors who truely believe in the project. I’m thinking about getting legal advice from a crypto lawyer, just to give the members of the DAO a chance to see how somebody with professional knowledge thinks about their actions. Hope it helps. You know what saddens me the most? Crypto was invented to give power to the people back from financial institutions. And here we are throwing inclusion overboard.
Maple finance is run by a company, Maple Labs Pty Ltd. They took the money raised in the ICO and they have a duty towards the investors. They and their VC investors also own the majority of tokens presumably, so the DAO is really just a front. All decisions are made by the Maple team and their investors. Maple finance is simply a company that raised through an ICO in addition to equity. The vote of the DAO really doesnt matter given that there is no actual decentralization and even if there were the company would still have a duty to make reasonable efforts to prevent harm. Such as sending an email. Securities fraud, common law fraud, breach of fiduciary duties and unjust enrichment could apply to Maple Labs Pty Ltd and their leadership.
I’m not that knowledgeable on it as you. But if this would be true they are taking a very big gamble. I do work with instititional investors and they talk about compliance a lot. If they really want to be a household name in (main stream) asset management, then they’ve got to have an edge working with some kind of technological advantage. (which they do, if I can believe the case studies on their website). But institutional grade investors also need partners who don’t brake the law. They don’t want to risk getting caught up in a lawsuit because their supplier is caught in one.. I’ll post the POV of a crypoto lawyer soon. What saddens me is that just the fact we are having this conversation means crypto hasn’t fullfilled its promisses yet but I hope we will still get there eventually..
I know brother or sister. And it hurts the most bc one didn’t expect it.. You know if you play meme coins you know, you can get rugg pulled anaytime.
I try to look for projects with a real use case. And support those for the long term.. I’m no trader like most of the investors on this discussion forum..
I’ve lost other crypto investments too. But they went bankrupt and I had a an occasional rug pull… Believing in something, getting sidelined bc of a deadline and see the project flourish is a heavy punch in the gut..
They are hoping that individual wallets are too small for legal action. Hence their “only Maple dust” left out comment. They made sure no wallets with 10s or 100s thousands MPL were left out because those could sue on their own. Looking foward to what the crypto lawyer says. I think we just need to gather a group with some 10k or so MPL in total and then we can start proceedings based on a contingency fee (i.e. the lawyer gets payed a share of recovered funds). I made an email to connect anyone whos interested in that Maple.ClassAction@outlook.com