The following article is meant to describe our progress through the last week in the various fields of work.
Product
Along to the back-end development, we have started to design the layouts of the new version of the application, which will include Ether and ERC-20 tokens storage.
We acknowledge the importance of getting external feedback, so we want to share the first drafts with you so we can hear your opinion. You can find the the link here.
Legal
The deadline to join the lawsuit was closed on last Monday, April 16th, 2018. We confirm that 89 token holders have joined. Please, bear in mind that there is no need to join for receiving any potential compensation — this is just for providing current token holders with more security.
Therefore, we have already started the legal actions with our lawyers. As planned, a certified mail has been sent in order to start the legal process. You can find the original copies here.
This step is a legal requirement previous to any lawsuit, as we are required by law to find a private solution before going to court. If no agreement is reached within two weeks, we will be legally able to go to court.
Others
Some clarifications
After the Smart Contract was closed, there was a contributor who asked to join on March 2nd, 2018. This contributor wanted to add “USD 45,000 in Ethers” to a previous contribution he had made during the ICO. As the Smart Contract was closed but we still could issue tokens and he wanted to join anyway, we offered him to send the funds to a regular wallet. Thus, he sent us 52 ETH on March 2nd, 2018. The transaction can be found here.
After the Smart Contract error was identified and released, we proceeded to send him back his 52 ETH as they were not locked due to the Smart Contract error. Given that the Ether price has plunged, he requests us to refund the difference in USD. However, we believe that there is no reason for us to do so and hence, he is now accusing us arguing that he has been scammed. Our official position towards these situations is that we will not give in to any kind of illegitimate pressure.
EIP 867: Standardized Ethereum Recovery Proposals
Ethereum’s most senior developers have initiated a debate on whether or not a method for returning funds lost due to high-profile hacks and incidents should be implemented.
The improvement proposal that seems to be more popular is the one described on EIP 867, led by Dan Phifer from Musiconomi.
For now, no action will be taken until Ethereum decides on how new features should be proposed to the community through the Ethereum Improvement Proposal (EIP) protocol.
In case you have any more questions, please send us an email to info@thepaypro.com.
