We put up a long post yesterday, explaining our background as serial builders, where FuelEV is currently and where it is headed. However, after a lot of strong feedback from the community - we believe we got the timing wrong. Hence, with deep regret, we’re announcing the rollback of our SNS completed a month ago. All participants in the SNS will be refunded in full and we’ll keep everyone in the community posted about next steps. Please do note that no ICP was withdrawn or spent since the SNS. The ICP collected from the SNS sale remains intact in the DAO treasury.
It is a sad moment for all of us here, there’s no denying that the team put in all their effort and time into building FuelEV. I’d like to take this opportunity to also reiterate the fact that there was no malicious intent on our part in building this business. However, the feedback from the community is all that matters, and in light of recent events- it makes sense for us to take a step back.
The problem FuelEV is solving is real, and so are the pain points of the customers. We’ll continue to build and keep going until we realize the dream.
We will be sharing more information about this over the next few days as we figure out more details about the process of SNS rollback.
Thank you everyone for your support and feedback. We hope to see you soon again!
Are 100,000 ICP being sent to the Swiss Entity? Or back to those 20 wallets? I think you understand what I’m talking about. And where are the funds from the Neuron Fund going?
Maybe those funds could be redirected to projects that didn’t benefit from NF allocation during their SNS sale and that they’ve already proven a FULL COMMITMENT to building/staying on ICP. I’m thinking :
We are in constant touch with the DFinity team to determine the procedure for the rollback, and are currently awaiting on their end to give us guidance on the next steps. Thank you for your patience, and we’ll update this thread soon.
Smart move. I made a small investment because I like your persistence and idea in a large market. Having said that, I immediately noticed that you were launching too early esp. after seeing your dapp and how early stage it all is. Reminded me of Estate Dao when they first launched. Now Estate DAO has pivoted I see to “OnlineBooking.com” without communicating properly with the community or even putting it to a DAO vote that they essentially changed their entire business plan after the fact and scrapped the original idea they ran their SNS sale upon. Anyways, you don’t want to do that. Like any prudent VC’s or ICVC’s onboarding, you should have all your ducks in a row BEFORE you launch any SNS whatsoever. Have a fully functioning and usable site and dapp and have real customers using your platform FIRST before asking for any funding. This is the major problem with the SNS. A lot of projects on ICP have launched way too early stage, build excitement, and then literally disappear with no updates leaving the community and investors wondering what is going on! Even if work is still happening, the tokens end up losing value because it was just too dam early stage to be investable to begin with! And if any of the rumors are true, cheating the system is an even bigger mistake. ICP investors have been extremely generous and extremely patient so you cannot blame us for lighting a fire under all of your behinds! It’s time all SNS startups start showing their value and worth and show all of us the money because otherwise you’re wasting our time as well as your own.
I actually think we shouldn’t roll back the sale, as that’s just giving all the money back to George Bassadone, Rishi and Saikat who have been attacking the IC. Let’s burn the lot.
I see your point and the principal of the matter but your proposals to do so will never pass plus there are people like the guy above who invested 100 ICP who will not be happy to see his ICP burned up! At least in FuelEV’s case, they are throwing in the towel knowing they are in trouble and shouldn’t have done this.
Not necessarily because I don’t know any SNS that has been rolled back previously do you? I know the ‘Cycles Transfer Station’ dude just frickin’ got up and left but he didn’t roll that one back did he? Someone else took it over? Therefore, there may be some complications in doing so and because DFINITY is so tied up with milestone completions and Caffeine training and who knows what right now, could be they are waiting for someone at DFINITY to assist them and there’s a delay? It could be completely honest but yeah it does seem a bit delayed.
However, I wouldn’t worry because they can’t transfer any treasury funds as far as I can tell? They are being blocked big time by the community at large thanks to borovan’s detective work… Also, it would look really shady if they didn’t follow through at this point in time!
Suggestion for you guys trying to get your monies back.
Compile a list of your transactions that contributed in the sale ( post link to transactions in icp dashboard)
Submit proposal of treasury transfer to refund your transaction, @borovan would likely back it. You just gotta do so some legwork so we know its legit.
