Refund to Take.finance distribution participants
Dear Community,
From the idea of TAKE to the beginning of the token distribution, the team’s task and goal was to distribute the benefits honestly and participate the entire community in the life of the new Take ecosystem.
Throughout the distance we covered, we met people who were skeptical of our ideas and who openly called us scammers. However, despite these statements, we did everything as promised, step by step. But each step turned into new negativity and a wall of hatred for the project and the team. We got a lot of FUD, which does not stop today. It hurts to look at the TAKE chart. The point of no return was the statement of several members of our team about the termination of work on the project because of moral pressure and responsibility to the community.
We want to admit that we were not able to get support and the launch of the app cannot take place in the existing environment. We state the mistakes we made:
1. Do not disclose details about team members. The original idea was that we can prove every word in the smart contract code (as many developers did). This is a mistake, even if you have 100% embedded transparency in the code — no one will read it or the audit report. Investors only need influencers and an open shilling with instant profit.
2. The chosen distribution model seemed ideal to us. We have published the addresses of the contracts in advance and announced the time of sales. All members of the community had the same chances of being the first to buy at the best price. However, here was a failure and most of the tokens were taken away by one large buyer, after the sale of which the price collapsed at times. We understand and take full responsibility for this incident, we had to provide restrictions in the smart contract code.
3. Start of distribution of tokens before the release of the alpha version. We admit this mistake too, there was no need to rush. We wanted to keep up with the market while it provided these opportunities. The product must go before the implementation of tokens.
4. Lack of public gitlab. We also did not attach importance to it, because we did not see the point. After all, we are Fork of Compound, who was interested in digging into the fork code? It’s a mistake.
5. Airdrop for marketing purposes. We consider it also a mistake, nothing but a crowd of bots and figures this action did not bring the project.
We acknowledge that the project’s ideas and pillars were shattered at the outset. The project management decided to liquidate the project and return funds to the existing members of the Take ecosystem, who acquired their tokens during distribution.
Refunds will be made in full based on the amount of ETH deposited by each of the distribution participants. Below we publish the terms of return.
- Only current holders of the Take token ( bonding curve participants) are subject to a full refund of the deposited funds based on the Snapshot taken on January 17, 2021.
https://telegra.ph/Refund-wallets-01-18
2. These addresses from the list must leave their tokens motionless until February 5, 2021. (the moment liquidity is removed from the pool)
3. The sale or relocation of tokens will be considered a violation of the terms of return.
4. Previously sold tokens are non-refundable, as well as those purchased on the secondary market with an attempt to pass them off as initial distribution tokens.
5. All tokens purchased in the secondary market through Uniswap must be sold by February 5, 2021
6. On February 5, 2021, the team will remove the liquidity pool. A re-snapshot will be made to match the holder balances.
7. Tokens sold until the second Snapshot are not refundable. Even if you were on the list;
We consider this action to be the only correct and fair one for those who believed in the team from the first day and held their tokens. Apart from the time spent, each of you will receive a full refund of the invested amount, and many will remain in a good plus based on the last 30% increase in the Ethereum rate. Refunds will be made directly to the participants of bonding curve sale.
The Take team apologises to all members of the ecosystem. We do not justify our mistakes and each of us has learned a good lesson.
if you have additional questions or find a mistake, please fill out the form and we will try to help as soon as possible.
https://docs.google.com/forms/d/e/1FAIpQLSfTdJ1VDCom1fY1-SK1K2HkV7s_jhR_SEMZpwr3L_aYrUh18w/viewform
