Official Update to FantomStarter on the shift from Escrow Protocol to Pledged Capital and what this means for the community
We would like to take this opportunity to provide some clarity on the shift from Escrow Protocol to Pledged Capital and what this means for the FantomStarter community.
As you may know, the Escrow Protocol project faced a challenge — an internal scam that meant that the project was put in jeopardy. The team immediately put plans in place to mitigate this. When the internal scam was detected, the team immediately deployed crisis management cells, to identify additional issues and resolve all aspects of the scam. In the interest of the on-going investigation and legal process, as a team, we will not enter into a war of words on any social media platform with those wishing to slander us, but allow the truth to come out and the record be set straight. Instead we will only focus on delivering the best for the project and community.
With regard to what has taken place over the past weeks, we would like to share the following information:
- The team have deactivated the current bridge, this is a temporary measure and will be reactivated once the project tokens have been reissued/airdropped to all investors.
- The project has since officially rebranded from Escrow Protocol to Pledged Capital.
- New social media channels were opened and can be accessed here — https://linktr.ee/pledgedcapital
- In the coming few days we will be launching our new website.
- On the 7th February 2022, the team realized a snapshot of the holding for every holders (394 Fantom Holders)
- On the 7th February 2022, the team pulled all liquidity, across all exchanges of the Escrow Token, aligning with the decisions taken (under guidance from a number of investors and stakeholders).
- All the liquidity that has been pulled, is being held in a separate wallet and will be added back as soon as the token is reminted/reissued at 1:1 under the token ticker. Reissuing is set to begin around the end of February after a rework of our Tokenomics, and KYC rounds.
- The current distribution scheme has been put into hold, and an APR of 12% will be earned whilst this is being held.
We would like to again stress all tokens and funds paid to the business are accounted for and have been saved from the potential scam.
We have not taken any of these above decisions lightly, and will maintain open communication of our progress and information on a regular basis on our social media channels.
In addition, there has been a deployment of a platform beta, without contracts connected, and is part of the ongoing development of the platform.
Thank you. From the Pledged Capital Team. We are passionately committed to seeing continued growth and success! Our future is bright, and we look forward to having you on board with us!
We look forward to having an AMA with you all soon, in the meanwhile you can follow us on our announcement channel.