Hey everyone, MTTM here.
This is going to be a long one so buckle up. If you are an investor from the ICO period or a recent token holder , read till the end of my post, it will be worth it , I promise.
For all these years, I never posted here and I never felt the need to vote when it came to MIMO / Parallel. I always trusted in the team to not only do their best but perhaps, more critically , do right by the users.
In many ways, I like to believe that many people in the team did put in their best for the past 5 , or in my case, 9 years. Yes, you read that right, I have had faith in the team and stuck by your side for 9 years.
Through the failure of the TenX card, ousting of Julian Hosp, scandal of Toby Hoenisch, token swap to Mimo, failure of KUMA and the KIBTs, the supposed launch of “AYA wallet” and hyperliquid competitor that never happened, the absurd switch to “AYA Community” , the launch of PRL and using Cooper as a service provider, Jean , Yaya and Thomas leaving Mimo and now, the final act.
THE GREAT RAID.
I am utterly disappointed in the team not because of the price of PRL now.
I am frustrated and pissed because I know we could have achieved great things.
We were early to making Crypto spendable but we fucked it up.
We were early to EUR stable but we fucked it up.
We were early to RWA but we fucked it up.
We were early to AI but we fucked it up.
Fool me once, shame on you.
Fool me twice? Shame on me.
Fool us now? Shame of all of us.
I think it’s pretty clear.If the founding team did not decide to be greedy and starve the company and protocols from the massive warchest we raised back in 2017, we would not be in this situation 9 years later.
Now, I am going to be objective and break down this PGP point by point.
I will ask questions and raise my doubts and I expect answers to be given.
At the end, I will lay out my plan and suggestion and the team ( or rather what’s left of it ) , can decide how you choose to respond.
Firstly, let’s get straight to the point and state the obvious. In all the years of governance , this has got to be the worst written and structured proposal of all time. And the irony that it happens to be the one asking for the most funds. I think we can all agree this likely means whoever decided to put this together, did this in a hurry, and didn’t really think it through. A proposal from the team itself that doesn’t even properly follow the set framework.
“If it tastes like shit, smells like shit, it’s probably shit.”
You guys ran out of money right? That’s just the fact. You guys don’t have to hide it and neither should you.
“From inception through launch and initial growth, the Mimo Team funded and executed substantial work for Parallel,” and “During this period, the Mimo Team did not request compensation from the DAO for these contributions.”
When I read this line, I almost fell off my seat. It truly makes me wonder who decided this was a good idea. Please allow me to enlighten the team that seemed to have forgot where they left their morals and frankly brains at.
THAT IS WHAT THE TOKENS ARE FOR. ( the hundred million PRL you decided to stake now to outvote all of us ) and much more tokens the team still has, including the founder tokens you have not even migrated yet.
If I wanted to be generous, I could just leave it at this point and that would be the end of the discussion.
But after 9 years of graciousness and patience, I think I deserve to say my piece.
The team ask for “500K” and decides to frame the fund transfer as “retroactive compensation”. In the past, even for audits that cost tens of thousands of dollars, we would still be given fairly precise information on the service or provider and maybe even receipts or even external addresses , that we could all verify.
Also, in case we live in alternate timelines, the DAO already PAID FOR THE AUDITS. 240K and counting.
So let me extend an olive branch to the team.
Produce the receipts for every single transaction and then perhaps we could even consider. If not, abandon the idea.
It’s not morally ethical and certainly not legally right.
Also, let me point out the convenient fact the “500K” happens to be almost the amount that the DAO has in liquid cash. Almost seems too coincidental that the amount just happens to line up?
And let’s say the DAO transferred the amount, then what happens to Cooper Lab’s monthly payment? There will essentially be nothing left right? So essentially, you are leaving us for dead. And you know that.
That’s why you are trying to get this passed quickly but we will not let you.
Let’s just say I gave the team the benefit of the doubt and for one second, said: “ Sure, maybe for whatever internal reason, the team needs 500K” . But in one single lump sum? Not paid in batches and the team summarised the entire proposal in one single base line:
“ Fixed amount: $500,000 USDC to 0xA804F6b4b6d0d9644811b45fe7eA389928786430 “
Again, what a way to end a 9 year run. It’s like the team decided one day to just pack it up, take everything and go, and never bothered to tell us.
I VOTE NO.
Unfortunately, this time I am no longer going to turn a blind eye to this team’s actions.
This is blatant fraud and mismanagement of funds.
Claude, you are going to answer all of us.
Don’t hide behind the team any more, You already removed all of them. Don’t use the excuse of being busy, You have nothing you are actually working on.
Where is the code or MVP of AYA?
Why are the ones who are left in the team so conveniently close to you? Perhaps you have a soft spot for some of them from your Telcoin time?
What about company expenses? What was used and for what reason?
Claude, I do not want to insinuate anything but enough is enough.
Either show your cards or I call your bluff.
I tried to be respectful to you in our private messages and everyone here can attest for the fact that throughout all these years, I have remained objective.
But this is nothing personal against you. You are the CEO, so do your job and give us answers.
If this is not your decision , and the puppet masters are pulling the strings from behind, then tell us now and get out of the way.
READY? HERE WE GO.
To those who are going to decide to vote yes for this proposal and to the DAO signees who sign off on the transfer, you could be potentially be legally charged as accomplice to fraud , misappropriation and potential breach of trust in many jurisdictions across the world.
Voters and signers have an implicit duty of care towards users and the protocol at large, and I am pretty confident I can get most courts around the world to back me on this.
Now I am aware that with the “honey pot” that the team has access to, you may decide to mount a legal threat and action against voter/ signees who disagree to your scheme, and real human identities are at stake.
To those who are hesitant, do not worry, step aside and sit this one out. The law will have your back.
The legal risk of being sued for refusing to execute this fraudulent proposal cannot possible compare to the very real possibility of voters and signees approving and executing a fraudulent transfer of funds.
To the MIMO team members,
I believe most of you do not ethically agree with this. I know you know what the right thing to do, and you know where the money went and what it is going to.
If you do not want to be implicated in the next step, I strongly encourage you to step away or if you feel like helping, reach out to me.
HERE IS MY COUNTER - PROPOSAL. Should the team decide to accept, we will draft a formal proposal and pass the vote.
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OPTION 1:
The DAO will approve the transfer of exactly $1 USDC, in exchange for the entire token position of the MIMO Team, founders , executive team and all additional tokens directly or indirectly controlled by MIMO / TENX.
After that, Parallel Protocol and the DAO will be independent of MIMO the company and those who continue to believe in the Cooper Team + DAO can join and contribute.
After receiving all the tokens controlled by MIMO, which we estimate at around 40-50% of the entire supply, I proposed to burn them / re deploy for new issuance / incentives . So that the protocol can truly run on its own and rework its tokenomics.
OPTION 2 :
The DAO will fork the protocol and exclude all tokens directly or indirectly controlled by MIMO. ( just like forking ETH - sometimes life can be quite poetic )
——————————————————————————————————
Either way, the team will no longer assume ownership or control over what is supposed to be a decentalised protocol.
At the same time, I am seeking the return of hundreds of millions of BTC/ETH that have been stashed away by the founders. However great Toby was at the DAO hack, they still caught him. Likewise, “you can ride, but you can’t hide.”
I WANT TO STATE VERY CLEARLY THAT THIS IS JUST MY PERSONAL SUGGESTION.
Anyone and everyone is free to suggest a different and perhaps even better plan.
SO WHAT HAPPENS IF THE TEAM DOES NOT COMPLY?
The team has 24 hours to drop the proposal and respond. Yes, I want answers from the team, Claude, Toby and Paul and the rest like Frederic, Yacine, Bad etc.
After that, I will take it that there is no deal and we will mount a comprehensive course of action and take steps to not only find and prosecute every individual who is complicit in mismanagement of funds and fraud, but we also fully intend to claw back every cent of the main treasury , which keys are clearly held in control by the founders. One somewhere in Japan with his wife and kids, and the other in his home country of Thailand.
The great thing about crypto is that everything can be seen. So good luck trying to hide and split 3800 BTC. Every single transaction and address through the years have been logged and continue to be traced. We also know how the foundation operates and who is linked to it.
And we are fairly confident we know the identities behind most PRL addresses. So if you have done things you are not proud of, do not vote and even better, burn your tokens. Because we are coming.
“Code is Law” is not something that can be used when it comes to the ICO funds raised from 2017. We have the bank accounts, we have the personal details, we have the wallets and we will prosecute.
Hacking the DAO in 2016 is one thing, stealing our money is quite another.
I have prepared a full document and case file and will be enlisting the services of Laura Shin ( who originally wrote the piece of Toby ), ZachXBT and a few others like him and also popular creators like Coffeezilla. Since the founders and the management team want to go down in history, then I will gladly help them. Since Claude loves to speak at conferences and wants to be like CZ, we will ensure he gets his one minute of fame and experience what jail feels like too. Toby can do his yoga stretches behind bars while his partner flies drones and Paul can keep dreaming of driving his Porsche with his partner. Some people forgot but Toby got his brother Philipp Hoenisch, to run COMIT, and now Lendasat, which he still runs while having breakfast with his wife ( these projects were funded by our funds ) Oh, and yes, not forgetting Julian Hosp, who collected his bag, got married with Bettina, had 3 kids, lived in a giant mansion in Singapore and started Defichain , which turned out to be another complete sham. What better way to drum up attention than to bring back the guy with the most ego?
It’s been years, let’s reunite the entire team shall we?
Believe me, I never make things personal, and I always try to be fair. But sometimes, you got to make a deal with the devil.
Additionally, I have also given heads up to the relevant state authorities about our case.
You left me no choice team. This proposal was the final straw the broke the camel’s back.
We will protect the tiny amount of funds in our precious treasury and we will get back our hundreds of millions in fraudulently, misappropriated funds.
Stop immediately and return all funds. And perhaps a compromise can be reached, if not, get yourself ready.
After such a long read, I hope I have the support of those who still believe in doing the right thing.
I want to inject a little bit of optimism in this post so it’s now all just about bad people doing bad things.
Everyone, if we survive this and stand independent on our own after all this, you can be sure that those of us remaining will have even more determination to deliver.
I have some ideas of where we can take this protocol and even with what we have in the treasury, we will make it. But, let’s save that for the day we survive.
On a very personal note, even after the DAO survives, everyone can be assured that I have no actual intention of “steering the ship”.
That is for Jean / Cooper Labs / or whoever we decide to vote for. And you can be sure, I will hold everyone to the same high moral and work standards.
I always watched from the side and that is my happy place. I will help you guys win this, and then step aside.
For many years, most of you knew me as MTTM, but do any of you know what it actually stood for?
MIMO TO THE MOON.
Yeah, the irony.
I think “Moving Towards The Mark” now seems to make more sense.
ONE BIT / TENX / MIMO / KUMA / AYA / everything else, I think it’s time to stop the lies and come out of hiding.
I made my move.
Your turn.
MTTM.