SOLVED: HEIKO-Parallel - deceived the entire Kusama community and 1600 investors (12% of the KSM crowdlon)

UPDATE: SOLVED !

Update: 10/12/2021

Good day all Community, CEO Yubo Ruan, @JenniferKong , @illu_te ,@kennyyjw Michael and all Team that was behind this decision.

https://twitter.com/ParallelFi/status/1469456125447835653

I just could tell, that this was very difficult week for everyone, me, the community and Team. (And specially ...last day.....Who knows... Just know....Jennifier you really surprise me THANK YOU).

But....At the end of this way HKO Team heard the voice of the community (this was not easy to be honesty), but they heard us.

I'm happy that we finally found trade-off for HKO and Parallel Team vs Community.
I really appreciate and i know that this was not easy and we didn`t hear each other firstly, but at the end, we finally did this.
Thank you for understanding and sorry for some "not nice" words from me, the community, and other members.

I hope that the community will appreciate :

1. Increasing of rewards for 33% ❤️
2. Add additional bonus +2.5% 😊
3. Vesting period start from 06.10.2021. 👍

Thank you guys for all!
Thank you community who supported us during this period and believed in us.

Thank you Yubo Ruan for helping and solving this issue! i know that you stay behind all decision.
Congratulation. Awesome victory in Polkadot and awesome victory of Team and Community!

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Pre-history 06/11/2021:

Parallel Finance/Heiko Cheating early KSM Backers who contributed 12% KSM and 1600 Backers

Hello Kusama and Polkadot community!

I would like to bring to the notice of the community what injustice is being done to heavy backers of Parallel Finance (hereafter referred to as Team) on the Kusama auction (Heiko). This is a long post but I will try to keep it simple. Before the posting we also discussed with CEO Yubo Ruban (hereafter referred to as CEO) DM and in groups) for his response but he is silent on the unethical practice and supporting banning people who are speaking about injustice or silencing them.

1) Back Ground

Parallel team contested in the second round of KSM Parachains and HKO promised (official social platforms by CEO) to give early heavy backers with more than 10 KSM contributions access to the private sale of tokens. Then the following is the summary of the manipulation and fraud the team is doing towards these investors. To summarize this is not an issue of 1 or 2 contributors but 1600 members who were eligible to participate in a private sale and contributed more than 13% (considering all are above 10 KSM and close to avg. contribution of 14-16 KSM) of the total KSM raised during the crowd loan.

Sep 25 at 04:18 CEO Yubo Ruan - We are talking to Tokensoft and Coinlist and figuring out the best way to structure a public sale - https://t.me/parallelfi_community/13875

2) Waiting and only to get mislead

After months of follow up Team, where can simply whitelist the wallets for private sale. However, they always come with new issues or excuses. We understand it might have been not straightforward.

After 2 months of waiting CEO continue to talk about Public sales:

Nov 25 at 00:54 CEO Yubo Ruan - Tokensoft requires to setup different entities to do any sale https://t.me/parallelfi_community/45197

We could see something is going wrong as the Community manager first banned people who disagree start here. Heiko-Parallel team said they will keep their promises because of Polkadot auction.

And Kusama community waited only to be misled see how below

3) How Team is cheating and fake voting

After 2.5+ months of waiting, Heiko team announced in HKO Whitelist group: https://t.me/HKO_whitelisted/4500

and they cancelled Public sales and unique solutions decided by the team for everyone. What was the excuse for saying backers from US and China cannot participate in the sale? Is this something new, all sales exclude people from certain countries?

So they wanted to go on the voting process, but the rules are pretty strange in the age of Blockchain where even test tokens are allocated after signing from the wallet. The team wants to go for Anonymous voting in telegram without transparency. Voting in an open Telegram group is just a joke in 2021.

And these votes will decide the rewards of eligible participants! Fake voting here - https://t.me/HKO_whitelisted/4577 Dec 5 at 11:39

Everyone could enter now and vote! If you don’t trust me.

We all put our hard-earned money to support the team for 48 weeks to secure a Para chain slot and get into a private sale. We are talking about promises not a favour from the team. The misery doesn’t just end here

4) More misleading not just on the name of Private sale

We all know about Tokenomics, price, vesting period. But with Heiko they asked you to vote in fake voting without giving you at least a vesting period of tokens...!

Dec 6 at 03:42 Senior community manager: Oleg(Parallel Finance): We will provide information about vesting https://t.me/HKO_whitelisted/6965

This is the practice of a Defi Company who are asking people to put their money with them, not a small one and backed by reputed VC’s for sure they will also realize when it is their turn.

5) Crowd Loan Hidden and Stolen rewards on Heiko rewards:

Heiko total supply 1 billion, KSM rewards supply 5%.Heiko project collect 200 000 KSM (after this amount they stopped crowd loan and any rewards)

50m/200k= 250 HKO for 1 KSM.

We should receive around ~220-240 HKO for 1 KSM (don`t forget referral pool and early bird rewards), but the reward was fixed 1 KSM = 200 HKO. And all unclaimed HKO was returned to Team.

If you try to ask for more info about total referral numbers and early birds numbers you will always get the same answer, > - Sorry, we can`t open this information. But isn’t all the referral codes and info is on blocks and people have the opportunity to check if the numbers from their friends match at the least.

In mathematics with such numbers and so much data, you will never get an exact number of exactly 200 HKO! It's impossible.

6) Beware of Para Rewards on Polkadot.

Parallel Finance tried to cheat in the same way in the Polkadot auction, but something went wrong...

Initially, they fixed that reward as 33 PARA = 1 DOT (without early birds bonus and referral) and they would like to take all unclaimed rewards in a mining pool or team rewards pool. This is a story about the fraud of Parallel Finance. Let me explain.

1.5 billion crowd loan rewards.

Polkadot 1%, 12 Million (assumption)

1.5 Billion / 12 Million = 115.

But they are proposing 33 Para; 33*12 million = 396 million.

1.1 billion? Where are they going? 1.1 billion turned into mining supplies.

Most of the crowd changes to mining. This is fraud. Failure to keep 15% of the crowd volume. They are ignoring investors. No one is answering this clearly including the CEO and Community manager

There's still so much time to win slots so they are just trying to change their stance to say that we did not promise that. We need to stop them before more people fall for it. Let the community know about this!

Unfortunately for them Polkadot community noticed this and start to ask about this in the group :

https://t.me/parallelfi_community/30069

https://t.me/parallelfi_community/30071

https://t.me/parallelfi_community/30085

https://t.me/parallelfi_community/30086

At this point, they don`t have any choice and they hear the community and realize that they cannot cheat in the same way as Heiko!

Yubo Ruan CEO

Hey, community, please calm down - the remaining reward will be redistributed back to parallel crowd loan investors NOT to the liquidity mining! more detail coming today or tomorrow from our team

https://t.me/parallelfi_community/30087

Nov 8 at 04:19

Yubo Ruan CEO: maybe it is a misunderstanding Parallel friends - again the undistributed portion is NOT going back to the liquidity mining but it will be redistributed back to the crowd loan investors more detail coming soon https://t.me/parallelfi_community/300955

Yes, they just forgot to add 1.1 billion of PARA rewards in the whitepaper... Do you believe in this?

Conclusion:

What the KSM supporters want to know from CEO Yubo Ruan you should start to talk with your community

· Heiko team asked for community help and this help was provided with a 10.1+ KSM contribution.

· Heiko team promised private sale keep it fair and transparent on this we waited for 3 months

· Heiko team avoids any communication about UNFAIR rewards with the community, people who spoke rightly should not be banned by the team who disagrees, but should be given a voice to speak or put up their concerns.

· Heiko team let the community decide what is better for the community and is not unilateral without our consultation. And all the votes should be signed with a wallet, not on telegram and another fraudulent way.

· We understand that US-CHINA customers cannot participate in the sale and we AGREE with airdropping fewer tokens and putting more tokens for the community that is willing to pay the price.

But we** DISAGREE** with:

• Vesting period

• Option 1 and OPTION 2

• Amount of rewards

We support finding a solution for everyone. We are ready to talk and find a trade-off. Heiko team always asked the community to wait, to understand, to change private sales to airdrop. Maybe this is the TIME when the Community could ask HEIKO to start talking with the Community?

Please don’t avoid dialogue with the community. Kusama is about Community.

We ask the All Kusama community to contact the Heiko/Parallel Team and CEO and start a dialogue here where they could not manipulate, delete and ban everyone who disagrees with their decision!

CEO: https://twitter.com/yubo_ruan

Parallel Finance: https://t.me/parallelfi_community

Heiko Whitelisted: https://t.me/HKO_whitelisted

Kusama and Polkadot this is for Community, about Community, and with Community!