- How come we have no visibility on the wallet funds? From etherscan where is the ICO wallet address and where is it?
- ICO bench 2.5 stars, is Policy Network legit?
- The milestones are not met! Why is the roadmap until Q4 2018, Since its finishing can elaborate more on Q1 2019 onwards?
- What? Does MAS have approval on pal network? What is MAS stand on Crypto? I think many people invested in PP due to MAS link as they always throw MAS in front of them. Especially during ICO. Is legit?
- Are they aware that pal network has shared resources with policy pay, which is a totally different entity? The dual usage of team members including CEOs in crypto and MAS insurance broker firms is terrible. This is a conflict of interest. And lack of focus as well. Sharing of resources is not clear. Data integrity is uncertain. Did MAS allow?
- Is creation of insurance plan legal? i.e. token shield, crypto protect who
are these "AA" rated global insurances? I think PAL network have no real insurance partners.
- Usage of tokens is incorporate, why they spend so much of investors funds to get listed on exchanges. Could we as the investors to get a breakdown on what Palnetwork has spent on so far? I think we deserve to see the PnL of expenditure of company relating to project development
- Financials is scary with PAL. PAL had claimed to raise 23,809 when ETH is around $1k. Current ETH price is $200. With Val traveling, sponsoring and spending without any products out. PAL is out of money very soon. Dumping?
Exchange listing is all expensive. Let's see.
i) kucoin.. should be $500k
ii) coinbene.. another $500k
iii) bittrex is a major exchange. We could be looking at $1 mil or more
and they have multiple exchanges at least $100k each
PolicyPay is regularly sponsored and has events, assuming each costs $20k.
They dun have a lot of money left.
-@valyap What's the aim of all these conferences,
Why are you speaking at so many conferences but what's the use? can you list down what are the conferences that you have attended and what the expenses relating to these conferences and what are the gains that PPN has achieved from this conferences in relation to the expenses? As investors, we are not in favor of Val flying first class and going on shopping sprees in these countries.
- Wow, the sudden surge in members! How many fake users are there on your telegram group, your (telegram went from 1k to 10k in a week.
- The CEO Val Yap has no idea what is the difference between a private chain and a public chain. Pal Network is a crypto project with very little real tech people. We challenge Valery to conduct a technical AMA
This product seems like fail. no volume. the ppl buying are from their internal wallets. can check from etherscan. Seems like the whole business is a fake setup to fund their existing business venture. Can u proof that this project (Pal Network) is actually useful and not a scam to divert resources to PolicyPal instead?
- The token shield is a lottery game or even behave like a binary option. Firstly. Pal tokens are the biggest risk in the whole equation. We firstly will need be able to insure against PAL tokens since it is used as the payout for the winners. Like Singapore pools, just paying out in Crypto. This is a great tool for pple who wants to speculate and gamble... it is a risk to the society
- PolicyPal is an MAS Licensed Insurance Broker and Exempted Financial Advisor if
they share resources with Pal Network, then it is not good for MAS
and CEO should not sit with another crypto company. I want to question how many staffs are fulltime in policypal and what is the segregation done to protect the interest of investors in both policypal and pal network?
Don't know about you all, but I am dumping my tokens before it goes south. There have been rumors going around that the Chinese are pulling out and regulators are taking action against false representations of the company.
Pal Network ICO is a scam, even though they do have a credential from previous ventures in simplifying insurance. I went to their pitch from Ethereum Singapore. After observing this ICO's developments and hoping that they are not a scam, I cannot sit by anymore and not educate the public about experience with Pal Network and why it is a scam.
- The Tech team does not know what the PYPL tokens are for, they refer to its use case as staking in a public chain they would build in future BUT event validation (insurance events) signing can only be done by trusted partners. The constant switching between their positions for their tokens tells me this is an attempt at raising capital for their current business ventures, not for building a truly public blockchain
- The consensus mechanism for their supposedly PoS chain is not announced, and I assume it is to do with their setup being trusted (aka dPoS). I have no idea what consensus they are intending to use: Ouroboros/Casper/Algorand. No technical details on how they plan to initiate consensus among nodes were given.
- Upon pressing them on how they plan to implement the first phase of their chain, they gave the answer that they plan to set up a Plasma child chain on the Ethereum manner, which does not give me confidence considering Plasma chain like OmiseGO which has the resources and talents have yet launched their testnet (only MVP).
- The team has no experience in working with public chain networks, only in private chains using Quorum and Hyperledger SDK.
- Upon pressing on how privacy features will be adopted or in the roadmap, they have no idea what privacy mechanisms like zkSNARKs, zkSTARKs, and ring signatures are. This is extremely important because, in order for you to put a policy on the public chain, you will need a privacy feature! Whether you are storing your policies off-chain does NOT matter as the event trigger is on the blockchain!
- Upon asking all these hard technical questions politely on the telegram, I was dismissed with the constant "The team will get back to you" even though their token sale is just 2 weeks away. This is a red alert.
- The last polite message I posted on their telegram to warn them the gravity of their situation triggered the deleting of all my posted messages to wipe the hard questions and a ban.
I have not touched on the non-technical parts of this project that makes this extremely shady like triggering FOMO among the telegram by flooding it with bounty hunters (telegram went from 1k to 10k in a week), a website set up in Panama and etc.
I am extremely disappointed as a Singaporean to see that a MAS Sandbox Graduate would carry out a scam in the crypto scene. This is a bad mark for the crypto project developments in Singapore