Dear Fusotao Community, this is the last announcement about the former COO Jason.
07 Jan 2023, 12:32
Dear Fusotao Community, this is the last announcement about the former COO Jason. I'll try to explain everything then forget this man.
As you all know, Jason was the COO of Fusotao team who controls many resources of the team, including all investors contact, all CEX marketing accounts, all social media, and of course, private key of the multi-sig wallet.
A few months ago, I don't know when precisely, he started another project now is called SoonSwap in private. At the beginning, I didn't aware of this until one of a investor told me. The man was Jason's friend, let's call him Mr. C for short, now becomes a member of Fusotao team. Because of their friendship, Jason told Mr. C that Fusotao doesn't have any hope to survive from this bear market, but he retrieved some reputations through Fusotao, then he shouldn't waste it, especially the investors such as D1, SevenX, BigBrain.
Mr. C helped me to analysis the situations at that time, the most important strategy of Jason is to hang up Fusotao, to avoid spending money as much as possible, then use the funds to feed his team. How? Because Jason was the COO, he could just arrange some tasks to the marketing team and left Fusotao aside. If you know Geroge Hao, the former Fusotao telegram admin, now his twitter or telegram again becomes "Building SoonSwap".
After discussed with Fusotao team's another co-founder, we decided to speak to Jason directly. At that time, Jason explained to us that the new project is not for himself, but for all early investors since the market is awful, he will airdrop the new tokens to early investors as compensations. At the beginning, we chose to trust him then decided to let it go and ignore it unless Jason asked for the moon. What's more, we even told Jason we could support him as long as he could continue the job. He asked the team to offer 200k to develop his project, considering that he said it is for early investors, we agreed. If you read this, please don't consider me as a machine, I have motions as well although I'm definetely stupid. No one wants to let his project with painstaking goes down after two years development, every time I saw the tao price, it is hard to face those earlly investors. That's why we agreed.
Later, we realized the things were not like he said. One investor in China, also Jason's friend, let's call him Mr. M for short, went to us to discuss the marketing strategy, but he noticed that Jason seems cold and unwilling to do anything, then complained to me. At that time, the dev team was building the ETH and metamask support which encourages investors, but when I heard Jason's attitude, I was unhappy although I wasn't in charge of the marketing business. I told the co-founder, then we decided to let Jason return the 200k, of course, Jason refused.
Co-founder said, since Jason didn't do anything in return and no longer believes in Fusotao, then he shouldn't be the COO. After discussion, We decided to offer 100k as a condition to let him leaving because we thought Jason wouldn't accept TAO. Then, Jason returned 100k to the team's account but put the leaving aside. Something you may wonder is that how could we were so naive. Yes, it was our fault for sure, especially me, a programmer doesn't know anything about humanity. Then the bad things happened.
Jason formally requested to leave the team. He said a lot of words, but the key point is 300k(not including the previous 100k). Yes, that is his condition, 400k in total. I was frightened but happy, because when a man issued a condition, it is negotiable. I immediatly discussed with to two closest partners, Mr. C and another investor, and co-founfer. They all thought it was a good thing because of the same reason. But later, we realized that we all underestimated Jason. Like I said, Jason was in charge of many things and controls the media reources, to make him leave harmlessly, we agreed 100k extra, plus the previous 100k, 200k in total. At that time, only about 600k in the multi-sig wallet.
Jason shouted to me: "100k is far away from enough!". The negotiation went down rapid
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207 Jan 2023, 12:32
ly, during the negotiation, I offered two choices to him: return the 100k we can continue or take an extra 100k then go away. It's fair I think, but he just said, all the money was raised by him from VCs, he wouldn't accept 100k, far away from his price. But if we insist to let him return the 100k transfered to him earlier, he'd ask me must cancel the partnership with Portalverse, then refund all investors using all the money left and dismiss the team. Does he has the rights? I don't know, and what is portalverse? Well, ff you take a look at fusotao's website, there is a partnership with Portalverse, we've swap some tokens to each others and want to build awesome projects together since we all based on Octopus. Before I realized it was just an excuse, I was frightened by Jason's shameless behaviours, just couldn't help myself, I punched him.
He didn't fight back, but called the police:) that's another story.
After I realized we can't solve this team issue by ourselves, I sent an message to Octopus and SevenX. While Jason silenced the telegram group, and published the announcement on twitter, something about I paused his email, refused to sign the transaction to pay salaries and service fees. True, because we decided not to pay his salary unless he accepts the condition. But we distributed the salaries and fees later from the hot wallet, as you may already knew, we created another group, the operation team is there, the fxdx marketing services didn't stop, and of course, you could check from mods. It was mid of Dec, all fees in Nov have been paid.
My original plan was to raise some funds from Mr. C and Mr. M to spend the coming two months then raise some money officially in Feb, 2023 because the money in hot wallet is not too much. To pay the team's salaries of Decemeber, I will have to move the money from marketing accounts. I was talking to various people in the whole Decemeber, including some investors, parteners, marketing makers, members of Octopus, and most important, the new COO/CEO candidates. Here I'd like to appreciate many good people, they provided many suggestions and helps. The founder of Portalverse, ex-google, introduced us to google cloud, and helped us to apply the Google Startup Project, luckily it was approved, so we can save some money. But that's not enough, we have to find a solution of this issue. Then co-founder made a last call to Jason. The negotiation result is that Jason requires to refund to his personal friends, not including any VCs, then take 30% of the remains away, about 100k. I have to agree with that, or the team will be dismissed. Finally, the team survives from this issue with a bad ending. You can blame me for sure, because I am so stupid and have not any bit of experiences about solving this issue.
I was planning to write this article after re-organize the team, after all the first gaol of mine is to make Fusotao team alive. But, Jason couldn't wait to rename the original Fusotao twitter and telegram, since they have more than 100k followers, what a strong community! He is so eager to start his own project. Then many users came to Jason, and Jason said he is no longer a team member of Fusotao, I forcely made him leaving blablabla. I have to tell the truth otherwise I barely have no time to do something more important but spend my time to explain one by one.
Back to the beating story, I went to police station to deal with it and also consulted about the issues of team. Unfortunately, Chinese authorities don't recognize nor protect the crypto. To some doubt what happened, I've tried.
What do we lose? Well, hard to say, first, we have to rebuild the community since Jason took the all the socila media away. Some of them are created by Jason's brother George, a student of Huazhong University of Science and Technology. He refused to hand them to me in no matter how I try, but 2 days ago he renamed all the social media to SoonSwap and mark himself "Building SoonSwap".
About the funds lost, not only 200k. Like I said, Jason controls all the CEX marketing accounts, I tried to contact the ma
ly, during the negotiation, I offered two choices to him: return the 100k we can continue or take an extra 100k then go away.
ly, during the negotiation, I offered two choices to him: return the 100k we can continue or take an extra 100k then go away. It's fair I think, but he just said, all the money was raised by him from VCs, he wouldn't accept 100k, far away from his price. But if we insist to let him return the 100k transfered to him earlier, he'd ask me must cancel the partnership with Portalverse, then refund all investors using all the money left and dismiss the team. Does he has the rights? I don't know, and what is portalverse? Well, ff you take a look at fusotao's website, there is a partnership with Portalverse, we've swap some tokens to each others and want to build awesome projects together since we all based on Octopus. Before I realized it was just an excuse, I was frightened by Jason's shameless behaviours, just couldn't help myself, I punched him.
He didn't fight back, but called the police:) that's another story.
After I realized we can't solve this team issue by ourselves, I sent an message to Octopus and SevenX. While Jason silenced the telegram group, and published the announcement on twitter, something about I paused his email, refused to sign the transaction to pay salaries and service fees. True, because we decided not to pay his salary unless he accepts the condition. But we distributed the salaries and fees later from the hot wallet, as you may already knew, we created another group, the operation team is there, the fxdx marketing services didn't stop, and of course, you could check from mods. It was mid of Dec, all fees in Nov have been paid.
My original plan was to raise some funds from Mr. C and Mr. M to spend the coming two months then raise some money officially in Feb, 2023 because the money in hot wallet is not too much. To pay the team's salaries of Decemeber, I will have to move the money from marketing accounts. I was talking to various people in the whole Decemeber, including some investors, parteners, marketing makers, members of Octopus, and most important, the new COO/CEO candidates. Here I'd like to appreciate many good people, they provided many suggestions and helps. The founder of Portalverse, ex-google, introduced us to google cloud, and helped us to apply the Google Startup Project, luckily it was approved, so we can save some money. But that's not enough, we have to find a solution of this issue. Then co-founder made a last call to Jason. The negotiation result is that Jason requires to refund to his personal friends, not including any VCs, then take 30% of the remains away, about 100k. I have to agree with that, or the team will be dismissed. Finally, the team survives from this issue with a bad ending. You can blame me for sure, because I am so stupid and have not any bit of experiences about solving this issue.
I was planning to write this article after re-organize the team, after all the first gaol of mine is to make Fusotao team alive. But, Jason couldn't wait to rename the original Fusotao twitter and telegram, since they have more than 100k followers, what a strong community! He is so eager to start his own project. Then many users came to Jason, and Jason said he is no longer a team member of Fusotao, I forcely made him leaving blablabla. I have to tell the truth otherwise I barely have no time to do something more important but spend my time to explain one by one.
Back to the beating story, I went to police station to deal with it and also consulted about the issues of team. Unfortunately, Chinese authorities don't recognize nor protect the crypto. To some doubt what happened, I've tried.
What do we lose? Well, hard to say, first, we have to rebuild the community since Jason took the all the socila media away. Some of them are created by Jason's brother George, a student of Huazhong University of Science and Technology. He refused to hand them to me in no matter how I try, but 2 days ago he renamed all the social media to SoonSwap and mark himself "Building SoonSwap".
About the funds lost, not only 200k. Like I said, Jason controls all the CEX marketing accounts, I tried to contact the ma
07 Jan 2023, 12:32
rketing maker, mmaker.pro, but they refused to reply any messages. They said they only respond to the individual that signed the contract at first. Until today, Jason didn't hand over the Huobi accounts to me, only MEXC and Bitmart, with a withdraw records happened in Dec. I received the last report from mmaker.pro at 9th, Dec. You can guess how much left at present.
Now, I just want to push Fusotao forward since I've exposed my foolishness enough. I believe in "DO GOOD AND GOOD WILL HAPPEN". 2022 has past, let's look forward. Some new partners have joined, and we are discussing the new roadmap of 2023, please don't FUD fusotao anymore.
rketing maker, mmaker. pro, but they refused to reply any messages.
rketing maker, mmaker.pro, but they refused to reply any messages. They said they only respond to the individual that signed the contract at first. Until today, Jason didn't hand over the Huobi accounts to me, only MEXC and Bitmart, with a withdraw records happened in Dec. I received the last report from mmaker.pro at 9th, Dec. You can guess how much left at present.
Now, I just want to push Fusotao forward since I've exposed my foolishness enough. I believe in "DO GOOD AND GOOD WILL HAPPEN". 2022 has past, let's look forward. Some new partners have joined, and we are discussing the new roadmap of 2023, please don't FUD fusotao anymore.