CZ tweeted a picture in which I asked to take with him with the following words: “I am always happy to take a picture together with anyone who asks. But this is exactly how you should NOT use it. It is misleading. “Good luck” to listing on Binance.”
This is in reference to our Medium post with the same picture and the following words: “On the other hand, we are working hard on the preparation of exchange listing and our CEO, Yuen Wong has also spent some significant effort with the team recently. We will announce more as we have updates about it.”
More about the picture?
Well, the picture was taken during an EOS event in Hong Kong, and I was the one who asked CZ if I could have that taken with. He was very nice and friendly.
Later that night, I posted that picture on Telegram (those who followed closely would know that I often post pictures taken with other hugely successful business people too).
My team saw that and went on to create a Medium post and at that very moment, we were also preparing to apply for exchanges since we were nearing our end of the ICO.
And what’s next?
After the tweet, and given CZ’s popularity in the crypto space, our social channels erupted. Well, there were different voices including sarcastic remarks, taunts, insults, as well as supportive voices to us.
Now the FAQ part since GES was questioned by many:
Will this cause GES failure?
Well, absolutely not as our success or not only depends on ourselves, not forgetting that we have been a running business way before we started our ICO. Plus, there are still many good exchanges out there nonetheless.
Were you misleading? Well, perhaps, but not sure. Read our wordings above again on our Medium post and it simply didn’t say anything much at all. And do note that we had never ever mentioned that we were going to apply for Binance, let alone be listed there. Hence it would be far-fetch to blame us for anyone’s association.
Perhaps to draw an analogy, it would be like a married man asking a gorgeous lady he just met out for a dinner. Too far-fetch to say that he committed adultery.
And note that another photo of the same EOS event was also posted, meaning that both event photos were posted there to share as it had just ended.
Binance is a good exchange, so why GES did not apply?
Yes, we agree that Binance is an excellent exchange. However, GES did not raise that much and our management thinks that spending anything more than 10% of our raise is not a smart nor responsible move, to the team as well as our supporters.
Will you refund?
We can’t be responsible for people’s wild imaginations and association with just a photo. Our legal advisor Professor Simon Choi has gone through our exact wordings and entire post and has found nothing misleading nor wrong. Has this photograph helped GES hit the hard cap? Maybe a tad. However, it should be noted that at the time of posting, GES has already reached 19,000ETH out of a 20,000ETH hardcap.
What was the action taken in this case anyway?
I personally wrote to CZ and apologised to him on his wechat for the inconvenience and misunderstanding caused, especially that I see him as an idol, just like any other successful business people. I also promised on my own accord to take down that picture and I will do that in a few days’ time, just so no one accuses me of altering the post. In fact, my legal advisor advised that there’s no need to do so.
All in all, what’s the nature of this incident?
To be honest, I was a bit worried as our social channel erupted although I would never rank this as high alert since I had been through several business issues which were more challenging. But now, I think this is just a teacup storm that would go away.
Next, on a positive note, GES is now set to be listed on Bancor on 7th May 2018 at 1200UTC. GES is also applying to some Top 25 exchanges (this time, we will play safe and not mention the names!).
Bounty distribution is also in process. Thanks for YOUR SUPPORT.
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