Proposal to open a discussion for ADAO

Governance Offchain Discussions
1

Dear Astar Community,

This is pithecus, one of the Astar Ecosystem Agents.
This proposal is written sorely for healthy growth of Astar Network ecosystem as well as fairness for all the dApps. I hereby would like to propose to open a discussion for ADAO, one of the earliest dApps listed on dApp staking. It would be ideal if @ADAO can be present and active in this proposal.


Issue
There are two Astar Network users or ADAO dApp users, reporting nothing occurs even after unbinding their staked $ASTR on their dApp. When executing the unbinding transaction, an error message with the following message shows up even though there is enough gas fee:

Error
Please try again. Confirm the transaction and make sure you are paying enough gas!



Overview

  • ADAO joined the dApp staking since 2022 May, and at the time of writing, a total of 15,451,988 $ASTR tokens staked on dApp staking.

  • Their latest social media activity on X was the 17th of May 2023 sharing https://twitter.com/ADAO_Official/status/1658675106665889793, showing the total staked $ASTR on their dApp staking, which is similar to what they have now.

  • Their GitHub has three public repositories, as shown in the screenshot below, and the latest updates were made in 2022. The same seems to be observed from the developer’s activities.

    image
    image919×375 24.2 KB

  • As of today, a total of less than 1 $ASTR in the treasury and a total TVL of 354,767 $ASTR remains. It should be noted that the period of the dApp staking rewards is already more than 12 months.

    image
    image1023×173 31.5 KB

  • The roadmap only was updated until the end of 2022, see



It would be really great to hear from @ADAO in regard to

  • Root cause of the issue and “swift” solution/guidance/update
  • No GitHub activitity/development in 2023
  • No or little social media activity/engagement in the past half a year
  • Little liquidity and treasury
  • dApp staking rewards report
  • development / activity report
  • still ‘coming soon’ message for the ‘Rewards’ and ‘Proposal’ menus on the dApp

ADAO is one of the first dApps listed on dApp staking; hence, it is quite important to have this type of open discussion with the community members how/what they have been experiencing so far with ADAO. I hope this thread provides constructive and productive discussion/debates, and please let me know if anything should be more clarified.

Best regards,
Pithecus

15 Likes
2

I have noticed that this dApp have gone missing/quiet for a very long time.

Some users were having issues and the team were not even there to support them.

Red flag.

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3

I greatly congratulate you partner for being attentive with this type of dApps. Looking at all the links you share and all the evidence you provide, clearly there is a huge absence on the part of the dApp executing team.

I even stumbled upon a Polkadot group where they were discussing the issue of technical problems when interacting with the application.

I definitely do not see answers to the issues presented.

3 Likes
4

Thank you for your report.

Twitter @mona73940

Twitter @mona73940 Dec.18 Original-Language:Japanese

I tried my best to solve the problem
I’m posting this because I can’t seem to do anything.

Listed in ASTAR’s dApp Staking
There is a project called “ADAO”
Provided ASTAR liquid staking service

Originally, I rarely updated my SNS.
Since May of this year, X and Discord have completely stopped.

Even if there are no updates on SNS
Liquid staking service
If provided properly
I didn’t have any problems
I can deposit it for now.
You get nothing by unstaking (Unbind)

Of course, you can’t earn a profit
The original ASTAR will not be returned.

I understand that investing is at your own risk.
It is a common story that the staking amount is not returned.
I think it’s inevitable that he won’t come back.
How is it that something like this is listed as Dapps? say

What I would like to request from ASTAR is
・I want you to do due diligence a little more.
・Updated content should be submitted every month
I think this is normal
I don’t know what criteria they use for hiring.
After hiring someone, they don’t check anything after that, right?

What if ASTAR cannot contact ADAO?
It’s not about voting like this.
Excluding yourself from dApp Staking
I think it’s obvious
What on earth is going on?

Who hired him in the first place and why?

Orcusfinance too
Formerly listed in dApp Staking

Make a buyback from dApp Staking every time
I said that
One day, I suddenly got hacked.
I said something like that and disappeared.

Hacking that cannot be verified by a third party
And he ran away with the money still in the treasury.

From a user perspective, compared to one year ago
The impression that nothing has changed

At least “ASTAR EVM”
dApps on the ASTAR chain are of very poor quality
Contains many services that should not be provided to customers

There are many projects that look like they are just pretending to work just to get money from ASTAR.

Unfortunately, ASTAR does not have a self-cleaning effect.
You’re just saying this is out of the question.

The LPs are also terrible.
Most of them are LPs with a quick 90% discount.
I still watch LPs from oUSD and ACA though.
Please remove the LP of this project that has caused so much trouble.

core team members
A very sensible statement
Don’t say it will increase the value.
Could you please do the minimum amount of work first?
Many users have suffered numerous damages.

Even for individual projects
No response or getting banned are the two worst options.
No matter how hard the user tries, it cannot be resolved.

Who is censoring the forum and banning people?

Maybe I could make this content a little more mild.
When I try to post on the forum
I’m getting banned by someone.
done

I don’t even know what to do
Even if it is inevitable that the funds will not be returned
It’s not a problem that only you have to endure.
The deposit is still open
354768ASTR is still displayed when I deposit it.
Of course I don’t think he’ll come back

At the very least, it should be excluded from dApp Staking.
From ASTAR official
I haven’t been able to contact ADAO for quite some time now.
Shouldn’t they warn people not to use this service?

so as not to expose as many victims as possible
to minimize the amount of damage
From being listed in dApp Staking every month
Report development progress
Isn’t it okay to at least check that?

Because they don’t even do such obvious things.
It’s an incident that’s happening.

That’s what’s happening, isn’t it?
It’s not “it could happen,” it’s already happening.
Happened many times
So, even if I told ASTAR, they would refuse, so I decided to post this.

I can’t post to the forum
Slander, slander, abusive language, lies, posting dubious links, etc.
I haven’t done these things

However, I wrote that I guess they didn’t want me to say it.
I understand that it would be a problem if it were revealed based on facts.
I guess that’s the reason for the ban

I received a reply from someone on the ASTAR side, so I would like to discuss it.

But the assertive tone makes no sense
At least for StarRay’s IDO
Even comments such as complaints that don’t deserve a ban.
I think most of them got banned.

At the very least, there are dozens or hundreds of people.
I think I got banned for no reason.

I get annoyed when people make arbitrary judgments without knowing the facts.
Arthswap and Sirius Finance also had a rough time.

The atmosphere is not conducive to discussion.
I think a lot of people got banned for that too.

Even if it is a valid criticism or a valid opinion.
I think I’ve been banned more times than I can count.

What makes me angry is
If you’re saying you’re not doing a unilateral ban,
Have you read all the ban posts so far?
I checked all of that.
If you say so, it’s okay.
I haven’t seen it, I’ll look up the answer.
I guess I’ll report it to the person in charge.

Could you please stop the habit of making assertions even though you don’t know the circumstances?
The stories don’t fit together

We are the parties involved and we are reporting the facts.
Hana denies it with a categorical tone of “No.”
I feel bad because I feel like I’m being called a liar.

Why did you make me feel bad?
Now that I’ve told you that, I’m being made to feel bad again.

I read this twitter original Japanese. I transfer it to English by google translation.
I dont change any word, from google translation original text.
It’s long post about 150 lines.

Many people discussed about it in Astar Discord - Japanese channel.
Because it is very sensational about ADAO and this forum itself.
And of course about Astar teams.

3 Likes
5

Hope to see any reply from @ADAO cause I lock some ASTR tokens in their dApp as well

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I noticed this issues too @pithecus, it seems that the team are already abandon the project. Let’s wait for them to answer this issue publicly.

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Thank u pithecus
I m Investor in $astr and a victim of ADAO .
The second Ref2 victim
I m so sad that my astr was stolen by ADAO team. I saw them in ASTR dapp staking hompage and I staked my $astr in ADAO platform without investigation
PLZ remove dapp staking program . I knew my ASTR couldn’t be back… but I hope
No more victims like me happen

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8

Yes, delist them. 100%.

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9

Happy new year!

The actual intention for this proposal was to open a discussion with the @ADAO team, but it seems not feasible.

So it would be then great if we can proceed to delist or any other necessary step to move forward.

4 Likes
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Totally agree, we have not seen any response from the team and on the contrary, there are people who have not been able to get their ASTRs out.

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11

How can they take your $Astr? I thought when you unstake, it goes back to your wallet automatically? Dapps cannot touch your Astr, for staking?

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Checking the address associated with ADAO, it appears that there are approximately 139427 ASTR left in the balance, but only 1 ASTR is the quantity that can be transferred.
What is the status of the remaining ASTR included in the others?

*I am not good at English, so I am using a translation.

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13

If the team will not handle this or atleast respond, we should take action ASAP!

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14

I found a post stating that they used ADAO because it is listed on Dapp Staking.
If the team cannot be contacted and Dapp is not working properly, we need to take immediate action to prevent more victims.

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15

Definitely, with dApp staking v3 this lapse in construction and responses to its community will no longer be tolerated and we will have a fairer dApp staking program.

4 Likes
16

I am also a user of ADAO’s Liquid Staking service and have been victimized.

It is possible that 298 addresses have been affected, including myself.

If all 256,771 ibASTRs currently issued are Burned and ASTRs are returned at the current rate (1 ibASTR = 1.3816 ASTR), the amount will be approximately 354,754 ASTRs.

In addition, 5 of the 298 addresses have almost all ibASTRs Burned by issuing transactions and are currently waiting for ASTRs to be returned, but it appears that the transactions related to the return continue to fail due to errors caused by the lack of ASTRs at the billing address.

(1) 139,057.0899678870724044 ASTR
0x4c6FF89674cCd7137f42d0a257ED82Bd7E2BaF4a

(2) 1,020.1363681846835868 ASTR
0x79335eCD4c1f81D6EAF20e3de2BEe2262590A842

(3) 10,952.264078248012327 ASTR
0x3c3A2fc05e601b3D182950539a4AC33D2341a6Cd

(4) 1,521.673862712108567 ASTR
0xC7716C81134D698C970e28e0328D653Ae3c97Ae7

(5) 6,693.6007203085553001 ASTR
0x46b03a32a369c70213D336ED8a08f8Ef531656Be

(1)-(5) are 5 addresses awaiting return, totaling approximately 159,244 ASTR, but after checking address (5), based on the Burned ibASTR (48473.73906942 ibASTR) and the rate at that time (1 ibASTR = 1.38087155 ASTR)The actual total for the five addresses would be approximately 219,487 ASTR, since the actual quantity should be exactly 10 times the quantity, 66,936.007203085553001 ASTR, to be returned.

So, the total damage is estimated to be about 574,241 ASTR, equivalent to about $100,000 at the current rate.

*I am a layman who cannot read code, so there may be mistakes.
*I am not good at English, so I am using a translation.

6 Likes
17

Due to the lack of response from the ADAO team, I will open the vote to remove them from dApp Staking.

ADAO dApp Staking delisting
  • Yes
  • No
0 voters
5 Likes
18

No response, user issues not handled properly - AYE from me.

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19

I would like to propose relief to ADAO victims by using Astar’s Treasury in addition to delisting from ADAO’s dApp Staking.

I am a newbie who created an Astar Forum account and started using it after the ADAO incident, so I am not sure how to make a proposal for victim relief and would be grateful if you could help me.

As @mona73940 pointed out in X, I recognize that the Astar officials were partly responsible for this incident.

I myself am an ADAO user who has been the victim of a reasonably large sum of money not being returned, and I honestly do not want to cry myself to sleep.

I first became aware that I was a victim of ADAO after seeing @mona73940’s series of posts on X.

If I had not seen @mona73940’s post, I would have been much later in recognizing that I was being victimized.

I think it is very beneficial to have someone like this pointing out problematic dApps and making them known, but on the other hand, I had some questions about the response on the part of Astar officials.

I also watched the exchange on X between @mona73940 and the Astar official, and their conversation did not seem to mesh well.

It seemed to me that the Aster officials were taking the attitude that we are not responsible and that the community should solve the problem, turning a blind eye to the genuine points made by @mona73940 who is being victimized.

It also seemed to imply to the victims that they should meditate on the incident that occurred by claiming that such incidents will not happen in the future if dApp Staking is upgraded.

ADAO is a project that has existed since the beginning of Astar Network and is registered in the Builders Program.

When I visited the official website to find out what exactly the Builders Program is, I found that it was marked as “Page Not Found” and that the page about the program has now been removed, so I checked the web archives.

According to the link, the Builders Program is administered by Stake Technologies, an official Astar company, and provides a variety of technical, networking and fundraising, and marketing support and grants.

The application process for the program includes an evaluation of the project by the Builders Program Committee, which consists of four members of the Astar team and four ambassadors.

In other words, the ADAO’s application process for the program involves Astar officials, and I don’t think it can be said that they are entirely unaccountable.

We can also confirm that there have been several posts on the official Astar X account that mention ADAO.

Some users, including myself, must have thought that because ADAO project was registered with the Builders Program and was mentioned in X’s post, it had a certain endorsement by Astar officials and was relatively safe to use.

I would not have found and used the ADAO project if it had not been listed on the Astar Portal, which is managed by Astar officials.

Although there seems to be a vision to dissolve Stake Technologies and turn it into a DAO in the future, at this point, the network is still in its infancy and is still in the process of development, and many users are aware that the de facto ruler is the Astar official.

Despite this situation, when a Rug pull incident by a fraudulent project like ADAO occurs and the victim asks for help, can we say that there is no problem with the attitude of conveniently using the term “community driven” and shifting all the responsibility to the community?

Even though it is difficult for Astar officials to eliminate specific projects at their own discretion due to the community-driven nature of the project, they could have taken actions to prevent secondary damage, such as alerting victims via social networking sites and Astar Portal, and investigating the actual status of the project, once they received the victims’ voices.However, it would have been difficult to eliminate a specific project from the community-driven approach.

Also, since they supported ADAO through the Builders Program, I would have to say that the inability to contact the ADAO management is a fault on the part of Astar officials.

I believe that the people who were affected by this incident, including myself, were disappointed in the way Astar officials handled the situation.

The Astar officials stands out for its commitment to Japan, which has put in place strict laws regarding virtual currency, and while it is great that they are building relationships with the Japanese government and large corporations, I don’t think they would get a good impression if they knew the current reality of the ecosystem.

For the sake of the future of the Astar ecosystem, I hope that Astar officials will take the ADAO rug pull incident very seriously.

It is important to prevent such incidents from happening in the future, and I think more discussion on countermeasures is needed in case it happens again.

Again, I strongly urge relief for the victims of this incident.

I apologize for the length of this message.

Thank you for reading to the end.

*I am not good at English, so I am using a translation.

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It would be great if we could do what we agreed on in a proper way. Silence or disappearance is quite contrary to what we have agreed. At least, voting should help us make a joint decision about what will happen next.

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