Update #45: Pressing Onward!

Posted by The Bullex team on Aug 22, 2019, 3:57:16 AM
The Bullex team

We recently held a vote to determine the path forward for DCORP and Bullex, and the investors have decided to continue forward with Bullex and eventually another proposal. We've also made progress with negotiations and have a rough path forward.

Vote to Dissolve or Continue

The vote to dissolve DCORP and Bullex that was held on 2019-08-10 to 2019-08-17 did not pass. The final vote count was 1,801,362.599 DRPU/DPRS in favor of continuing and 638,700.9 DRPU/DRPS in favor of dissolving. This means DCORP and Bullex will continue forward and another proposal will be released in the future. More details on this in the next section. All DRPU and DRPS may now be withdrawn from the contract using the tool found here, but you may also leave your tokens in the contract to save on transaction costs for the next vote if you wish.

The core team did not vote with any personal tokens whether these were bought or received as part of the first-year incentive. However, we do plan to vote in future proposals.

Moving Forward with Bullex

We continued to work on Bullex throughout the vote and have kept on moving forward since the vote to dissolve did not pass. We have also made headway in negotiations with third parties, and a date of September 1st has been provided to us as when will be able to run Bullex in it's full capacity minus a payment provider, which is still in the works after our recent setback. If this goal can be reached on or near this date, and at least one month of steady operation can be demonstrated, we will move forward with a proposal to fund Bullex into the future. If this has not been demonstrated, we will work with investors in Discord and propose a revised plan to dissolve. Either way though, it will be a few weeks before any new proposal and voting period.

We will continue to work for reduced salaries and will work to include details in future proposals on how back-pay, whether it is none, partial or total, will be handled. There has been much speculation on salaries in the Discord, so we would like to clear a few things up. We're still not planning to share specific salaries at this point, but right now everyone is working for reduced or zero salary. It is true that in the months following the ICO, salaries were generous, but we were on par with other successful ICOs at the time. This is not a defense of this position, but merely stating what has happened in the past and cannot be changed, especially as many of these people are no longer employed by DCORP or Bullex.

Obviously had we anticipated the market performing as it has in the last 24 months, more ETH would have been sold at more elevated prices, but once again this cannot be changed. The financial report shows the details of the average price at which eth was sold.

As a minor note, we are still working on deposits and withdrawals. While many assets are working, please refrain from depositing. If a withdrawals is absolutely needed, a support ticket can be created if the withdrawals fails, but please only do this if 100% necessary as it creates a lot of extra work for us when we'd like to be focusing on getting the wallets completely working! We hope to provide an update soon.

Lastly, we apologize for any confusion that has occurred over the past few weeks. Between the vote, losing a payment provider, migrating wallets to Bitgo, and dealing with continuing exchange issues, a lot has changed (and will continue to change) in a short period of time. Some of our reactions and messaging was performed too hastily, and we will work to be better at this in the future.

Closing Remarks

In case you missed it, you can find our last update here and the feed of all our recent updates here!

If you’re interested in learning more about DCORP and Bullex and would like to join our community, please subscribe to, or join, our social channels:

Thanks for reading and happy trading! Love Bitcoin, join the Bull.

 

 

Topics: Bullex, DCORP, Marketing, Withdrawals, proposal, BitGo