An unfortunate series of events
Earlier this week a contentious assault was levied on our reputation following a request for a ticker update made by the Denarius project. When informed of the associated fee for configuration of a new asset on the BitShares blockchain, the developer reacted negatively both publicly and in private discussion. The terms agreed to in the initial application have not been reckoned with by the project, nor was a professional engagement of discussion pursued by Denarius.
We would like to provide some clarity on our perspective. Rather than engage Denarius in an embarrassing shouting match, we see the situation as a touch point where we may provide education and clarity for the projects we work with as well as our users. As such, we’ve created a post which you may review here with an explanation of the purpose for these fees.
Every single cryptoasset project, investor and trader is currently enduring the harsh conditions of the bear market. Loss of market capitalization and downward price movement has an enormous impact on the decision-making abilities of human beings. It is at this point in the market cycle when the most negative emotions surface and logic is subdued by fear. Despite our understanding of this fact, we have found the deliberate attempts by Denarius to malign our character and their lack of professionalism to be outside exception. Therefore, we are choosing to de-list the asset.
- Our terms of service are clearly stated in the application form, and consent is indicated by applicants at the time of submission.
- We have never attempted to obscure any costs to extort projects.
- Denarius agreed to the terms of service, including associated fees.
- Denarius had previously enjoyed updates at no cost, as terms were already met (30 days had elapsed).
- Denarius was wholly unaware of the terms they’d agreed to.
- Denarius misrepresented a necessary wallet update as being related to the requested fee (it is related to the ticker change, ie: an entirely new asset configuration).
- Denarius reacted emotionally and undertook a slander campaign (both on Twitter and in our Discord channel) to advance a false narrative: that CryptoBridge extorts projects and abuses its common users.
- We have never intentionally avoided updating a wallet to hold user funds hostage.
- De-listed assets are always announced publicly giving both projects and users time to retrieve their assets.
It is with much disappointment that we encountered such an unfortunate situation and reaction over a clearly indicated service fee. Our intent from this point forward is to configure the necessary wallet update so that users may withdraw their Denarius before it is de-listed from CryptoBridge. We wish Denarius success in their endeavor, and hope this outcome provides direction for growth. We also thank you for your attention and encourage all involved to use their own judgment in forming their opinions.