RE: Propy fails to pay $200,000 in prize money to WCEF hackathon winners

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Propy fails to pay $200,000 in prize money to WCEF hackathon winners

in cryptocurrency •  last year

Hello @kjnk. This is Jun Dam (aka @steemrollin), one of the co-organizers of WCEF and the WCEF hackathon. There's been a big misunderstanding and miscommunication within our team about the delay in the Propy reward distribution. The Propy team has also issued the following statement: "Propy has every intention of paying out the tokens promised at the WCEF Hackathon. After some miscommunication, we were able to connect with the founders, Leland and Wesley, to confirm that we’re paying out prizes to the winners of the Hackathon. It was an awesome event that we’d like to be involved with in the future, so it’s crucial to us that everyone receives what they were expecting.

The plan was to release all WCEF Hackathon tokens right away and make them available for use by September - the lockout period we stated about before the hackathon. But at the same time we knew that the participants would prefer to be able to use the tokens right away, so we sought legal advice on how to do it and that took extra time. Now, our WCEF PRO tokens will be available for use upon distribution, and the distribution will be finished by this Friday, Feb. 23. We understand that we should have been more clear about this delay and we would like to apologize for it.

We want to reiterate that we have every intention of paying out these tokens. The submissions in the WCEF Hackathon are worth every coin. If you have any more questions, feel free to reach out to our CFO Maria Angelova at m.angelova@propy.com.

Thanks so much for your patience as we sort through this issue!"

I want to thank Propy for their generous rewards and would like to continue to work together to help advance crypto and blockchain development projects in the future. I also want to thank hackathon participants for their patience and hope to continue to collaborate together on future events. If you have any questions please feel free to email me at: jun@wcef.co Best, Jun

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Ahh nice, thanks for updating and clearing the miscommunication.

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Anytime!