YRAL - Response to FUEL EV SNS Investment

General
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Hey Community!

As you might have noticed, there’s been a forum post circulating about YRAL’s investments into FuelEV and Estate. We’d like to take this opportunity to clarify a few things for the community and share our side of the story—why we invested in FuelEV and Estate, and why we maintain a close working relationship with both. These decisions were made with the future growth of the DOLR AI ecosystem in mind, and we want to emphasize that no funds were withdrawn from the DOLR SNS treasury for these investments. Both FuelEV and Estate are active businesses led by hardworking founding teams with strong intent to contribute to the ICP ecosystem’s success.

A Brief History

To provide context, please find a brief history of HotOrNot’s journey to DOLR AI below:

DOLR AI - The First Layer 2 Scaling Solution on the Internet Computer

Adam has been the biggest investor and supporter of HotOrNot throughout our journey with the SNS. He invested more than 250,000 ICP in the HotOrNot SNS, holding 25-30% of the voting power in the HotOrNot DAO post-SNS. As our largest investor, we’ve confided in him for every strategy we’ve developed to run the DAO. We are deeply grateful for his unwavering support and guidance, which have helped us shape the vision we pursue today. His belief in us has been instrumental, and we’ll always appreciate his role in our journey.

History of Requesting Funds for Our Swiss Entity

In April 2024, we met Adam and George in person to discuss two key matters, given Adam’s role as our biggest SNS supporter. First, we updated him on the Estate SNS, which he knew we were collaborating on with George to build the platform and progress through its SNS. Second, we informed him of our intent to withdraw 150,000 ICP from the treasury for our Swiss Entity. This withdrawal was intended to secure a backup fund and support the continuous development and future growth of the DOLR AI DAO—then still known as HotOrNot. At the time, Adam and George, to our understanding, were good friends and a united front for us. As outsiders, we were assisting both—helping George realize the Estate platform and pursue its SNS, and engaging with Adam on RUST and ecosystem developments almost weekly.

Here’s the proposal for the withdrawal of the 150,000 ICP fund:

Internet Computer Dashboard DOLR AI Proposal: 99

Please note that the YRAL dev team refrained from participating in the voting on this withdrawal proposal. It was entirely up to the community, and the proposal passed with 23% vote acceptance—largely thanks to Adam’s support, given his significant voting power. The funds were transferred to our Swiss Entity wallet, which has remained publicly visible with no changes to the amount over the past year or so. This fund was, and still is, set aside as a backup and for future opportunities to strengthen the HotOrNot DAO. Back then, our mission was to create a decentralized social platform akin to TikTok on ICP—a vision that has since evolved into the broader Social Cloud platform that is DOLR AI.

Evolution from YRAL to DOLR AI

Sometime in mid-2024, while attending an ICP Labs event at DFINITY, we joined other ICP ecosystem project founders in discussing a key question: what if all apps could share traffic with each other? With the current implementation of Internet Identity, this wasn’t feasible at that stage. Simultaneously, our research revealed that generating revenue from advertisements in the Web3 space is incredibly challenging, prompting us to rethink our revenue model for the YRAL app. Additionally, while studying CoinMarketCap, we noticed that most top 100-200 tokens are platform plays rather than single apps (with exceptions like Axie Infinity). This led us to pivot from a single-app focus to a platform play for long-term sustainability.

As we considered listing on a CEX platform to maximize returns for our DAO holders, these two realizations—combined with rapid advancements in AI—shifted our vision from the YRAL/HotOrNot social app to the ambitious DOLR AI dream. With DOLR AI, we aimed to create a WeChat-like model: YRAL as the primary social web app, featuring an app store-like interface where users could seamlessly access other apps built on the DOLR AI ecosystem (spanning 500,000 canisters across 20 subnets). Revenue for the ecosystem would come from sharing social data among dApps built on DOLR AI.

It took us 5-6 months to hammer out the details while developing four internal apps on the same backend. This process solidified our transition to the DOLR AI vision. Here are the apps we’ve built:

  • https://yral.com/ - A decentralized TikTok alternative
  • https://hotornot.wtf/ - Content that doesn’t conform to App Store guidelines is automatically segregated here, powered by AI—our solution for a clean YRAL feed
  • https://icpump.fun/ - Anyone can create an ICRC 1,2,3-compliant token in seconds—no gas fees, no bonding curve
  • https://pumpdump.wtf/ - A fair token P2P game built on ICPump.fun memecoins

The frontends are hosted off-chain using server-side rendering with Leptos, a Rust-based WASM framework, while the entire backend runs on IC canisters with a massively multi-canister architecture. DOLR AI serves as a unified backend on the IC, providing APIs that multiple frontends can leverage simultaneously. We’ve explained this in more detail here:

From HotOrNot/YRAL to DOLR AI Platform

We launched the DOLR AI website in January 2025 (https://x.com/Yral_app/status/1883914121143525837) and shared the DOLR AI whitepaper (https://x.com/Yral_app/status/1884234536474628274). Following this, we proposed the transition to the community, and all related proposals passed with positive votes—including from Adam. Here’s more information on the shift from YRAL to the DOLR ecosystem:

First Outside Apps on DOLR AI

From the outset of conceptualizing DOLR AI, we knew we’d need to onboard external dApps and work closely with their developers to understand their needs for a platform play. We were already collaborating with Estate, and Adam was fully aware of this. Meanwhile, through a close relationship between our co-founder Utkarsh and the main founder of FuelEV—a 3X founder exploring chains for his platform—our team connected with FuelEV. He sought tech support and investment, and we stepped in to assist, helping him onboard to the ICP ecosystem.

For the DOLR ecosystem’s future, we selected FuelEV and Estate as the first external projects with founders outside our team, eager to collaborate closely as we build a Layer 2 on IC. We primarlity focused on RWA applications, since the growth and Total Addressable Market potential has been hundreds of billions of dollars. I want to emphasize that both apps have distinct co-founders with no overlap beyond YRAL’s support. They each have their own development teams, and we’ve guided them through challenges of building on IC. As DOLR AI, we see FuelEV and Estate as pioneering external projects that will demonstrate how our ecosystem operates. This has been our primary motivation for working extensively with their founding teams—both of whom are active, hardworking, and deeply committed to the ICP ecosystem’s growth.

Once these two apps are onboarded, we plan to host hackathons across various regions to attract more apps to the IC and expand the DOLR AI ecosystem. Beyond our four internal apps, we expect FuelEV and Estate to be the first external showcases of DOLR AI’s potential.

Apologies - Not Disclosing the Investment in FuelEV & Estate

On behalf of the YRAL team, we sincerely apologize for not being upfront about these investments. We want to clarify that our intention was never to drain the neuron fund but to drive the evolution of DOLR AI as the first Layer 2 on ICP. These investments, made from our Swiss Entity wallet—not the SNS DAOs treasury—aimed to onboard strong founders and projects to strengthen both DOLR AI and the broader ICP ecosystem, enabling us to compete with other ecosystems.

In hindsight, we should have sought community approval via a motion proposal for these investments, even though no SNS DAO treasury funds were used. We deeply regret this oversight and are committed to course-correcting for future decisions. It’s possible that some may not have seen tangible results from Estate over the past 10 months since its SNS, or from FuelEV in just one month. We encourage you to check their social channels for updates, and we’ll request their teams to share progress here on the forum as well.

We affirm that both FuelEV and Estate followed the proper SNS decentralization sale process, securing community votes from the IC. Our role has been as technical supporters, advisors, and investors throughout their journeys. While their business outcomes depend on their founders and teams, we’ve provided full support to ensure their success. Both are active businesses with hardworking teams and genuine intent to grow the ICP ecosystem.

ICP is the world’s first Open Internet Platform, hosting the first Open Internet Apps. Anyone can participate in decentralization sales without limits under Swiss regulation or the NNS. It was in our DAO’s interest to engage in these open sales, maximizing the DOLR ecosystem’s potential—not to withdraw treasury funds, but to reinvest in the IC’s future.

We’ve requested the FuelEV and Estate founders to provide weekly forum updates to showcase their progress, setting an example for all SNSs in the ICP community moving forward. Our Swiss Legal Entity invested in these projects with the broader future aim of onboarding external apps to DOLR AI, strengthening both DOLR and ICP ecosystems.

Addressing Community Concerns

We understand some community members dislike founders being involved with multiple projects. Since there are no explicit rules on this in the IC ecosystem, we’ve worked tirelessly to grow ICP bigger and better. However, we’re open to your feedback. If community rules evolve or new guidelines emerge around known entities, our decisions might have differed.

To clarify, no ICP has been drained from FuelEV, and only capital for work has been withdrawn for Estate. Relationships between founders and investors exist across nearly all SNSs in the ICP ecosystem—Adam, for instance, has been a major investor in many. We’ve simply done our part to contribute more to ICP’s growth.

EstateDAO SNS Documents and Proposals

FuelEV SNS Documents and Proposals

Closing Thoughts

We’re all in on the ICP ecosystem with every resource we have. In the end, we’ll do what the community demands of us. We apologize again for not being transparent about these investments, but we want to reiterate loudly: this wasn’t about draining ICP—it was about reinvesting in IC with exceptional founders and projects to benefit DOLR AI’s future. FuelEV and Estate are led by active, dedicated teams with good intent, working hard to grow the ICP ecosystem. We believe these investments, made from our Swiss Entity wallet and not the SNS DAOs treasury, will strengthen DOLR AI and ICP in the long run. Thank you for your understanding and feedback—we’re here to build this together.

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Did you talk to a lawyer before making this statement :flushed_face:

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Looks like you’re blaming your actions on @borovan.

Bad move, IMO.

You know 100% that he would NEVER support such nonsense to game the Neurons Fund. He invested in your projects because he believed you were:

  1. Capable of producing what you claimed you could.
  2. Intending to actually make a product, not just a glorified splash page.
  3. Honest.

We all make mistakes, but it’s time for you to own up and explain yourselves.

So far, you’ve gamed the system to raise tremendous funds for:

  • A social media platform that just loops videos.
  • A rental platform with a single, non-existent apartment.
  • And I don’t even know what FuelEv was supposed to be—it is just another splash page

The funds that you raised have vanished. Most people actually continue to develop once they raise money, not move on to the next scam.

Count yourselves lucky if you walk away from this as merely pariahs of the IC.

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Thank you for sharing your thoughts—we truly appreciate you taking the time to voice your perspective, and we hear you loud and clear. First and foremost, we want to sincerely apologize if anything in our message came across as pointing fingers at Adam. That was never our intention, and we’re really horrified at the thought that it might have been interpreted that way. Adam has been our biggest supporter from day one—his belief in us, his investment, and his guidance have been the backbone of our journey and we can never forget that. We respect him deeply and would never, ever dream of blaming him for anything. He’s been nothing short of incredible to us, and we’re endlessly grateful for his trust and support.

We also want to assure you—and the entire community—that there’s been no intent on our part to game the Neurons Fund or anything else. Our hearts have always been set on building something meaningful and growing both our business and the broader ICP ecosystem. We know our execution hasn’t been perfect, and we take full responsibility for where we’ve fallen short. But we promise you, our actions have never stemmed from dishonesty or a desire to mislead anyone. We’re a team that’s passionate about this vision, and we’ve been working hard to bring it to life, even if the results so far haven’t fully reflected that effort.

To address your points: we understand the frustration around what’s been delivered. The social media platform (YRAL) was meant to evolve into more than just looping videos—it’s part of our broader DOLR AI vision to create a Social Cloud ecosystem, and we’ve been pouring time into the backend infrastructure to make that possible. Estate, while slow to show tangible progress, is an active project with a team we’ve been supporting technically to get off the ground—not just a splash page, but a real effort we believe in. FuelEV, too, is an ongoing endeavor led by a dedicated founder we’ve been advising and investing in to bring to the ICP. These aren’t abandoned scams—they’re projects in development, and we’ve been trying to nurture them into something valuable for the ecosystem.

Ofcourse nothing can happen overnight and we are open to comunity feedback on anything that we can improve immidiately.

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you guys are presented with clear evidence. (Its all on chain)

And your response is to publish a full length film on youtube and to write a novel here which explain absolutely nothing.

Your attempts to flag and hide all of these posts will not succeed in preventing the message spreading to the community.

Respectfully, Get out of ICP. Thank you.

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‘there’s been no intent on our part to game the Neurons Fund or anything else’

Oh thank god it wasn’t your intention to game the NF like 3 times

also can you stop with the ‘we hear you’ corpo talk, it doesn’t work

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Stop saying my name, I’m not Beetlejuice.

I’ve known something dodgy has been going for about a year, the last time I met with you.

George, EstateDAO, FuelEV, the subnets, the function names, it all started to add up.

You guys need to step away from the IC now. Go do what you do elsewhere, there’s one born a minute, and those people are now on Solana.

Oh and give me all my ICP back. I never intended that to be burned to screw up the subnets.

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Let me fix that for you:

On behalf of the YRAL team, we are sincerely dissapointed that we were caught. We want to clarify that our intention was never to be discovered in our attempt to drain the neuron fund but to drive the evolution of DOLR AI as a replacement for ICP. These investments, made from our Swiss Entity wallet—which originated from the DOLR SNS DAOs treasury— and obfuscated by means of several intermediary wallets aimed to onboard strong founders and projects to take the fall for this mess while we move on to our next scheme.

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Well, erm, not sure I believe what I just read. Lost for words..

Coming clean after you’ve been caught out is a terrible look. How the hell are people supposed to trust anything you are doing when you’ve shown such a lack of honesty and integrity. Makes me wonder what other crazy shit is going on. Are all the users bots as well?

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One lingering question that i have: if this is true, why was @4eku able to trace the ICP transfers back to the Yral treasury?

if you all were going to fund FuelEV yourselves, why not do so directly from the Swiss entity’s account? Why go through the convolution of funding FuelEV from dozens of separate wallets via an SNS launch in which you all opted to receive neuron fund participation?

Why obfuscate your participation so much if transparency is the goal?

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guys please make sure to re-read the chatgpt apology wall of text again, you’ll see it wasn’t intentional!

LMAO

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So that’s what’s going on..

Adam, George and YRAL
Adam, George and YRAL889×1499 119 KB

Not quite like that:

YRAL DAO TREASURY -> a resilience fund or backup fund or Swiss Entity, whatever that means -> KRAKEN -> 20 fake wallets -> FuelEV SNS Sale
Some remnants amounting to 2,499 ICP returned on February 11, 2025, to a resilience fund or backup fund or Swiss Entity, whatever that means, but were immediately sent again through Kraken to a fake wallet → FuelEV SNS Sale.

The guys with halos over their heads call such things decentralization.

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Get em please, look at all similar DAOs and I’ll help you take these criminals down

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I am preparing a report on the ICPex SNS sale

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Thank you, David. May your coffee mug never runeth dry

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And may the swamp runeth dry forevermore.

Amen.

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Can i work for you mr borovan???

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