What happened and current state:
As many of you know what has been visibly going on for the last year, we are slowly going in a bottom spiral with no real community growth or something to make people excited. There was no funding secured for the project despite my constant push as the creator of the project to the other co-founder only to fall on deaf ear for the last year. I have personally paid out so many of the expenses from my pocket as you guys know how our first token sale just netted us a meager amount 2 years ago. The core developers including myself, Inventor of Autonio, the IP holder and my thoughts were conceived to were it is today. We are all unpaid for the last year due to severe lack of funding or any effort by the other cofounder whose sole duty was mainly to do the b sale fund raising which we announced we will do on November 2017. But since it has never happened and this was going to be slow death for Autonio until something happened to the project. We together had sold OTC millions of NIO valued at $200,000 an year ago which was never an issue. But now due to lack of funding for last year and I have to pay my Autonio core developers, I had to sell 17 million NIO in OTC to a careful and trusted longtime holder for just $14,000 just on condition that he should hold it very longterm. I am the sole creator of the project who created this project only on my own money, and I have 100% rights to these tokens. The CEO was bought in later after couple of months. This has been a big trigger to the cofounder who himself arranged for an OTC for me for similar amount, and not to mention the amounts I have been cheated by the said party team outside of Autonio where happened a misappropriation of $20,000 / $6,500 of my funds for his personal gain. I am a big believer that all things happen for a good reason. There will be some great ways to turn and pull this project out of the pit where it was led for last year by the other co-founder which I think is mainly my fault for trusting him with 100% responsibility for last year leading to a big downward spiral. Time to change that. I take full responsibility of the current state of Autonio and I promise you that it will change for far better.
Stopping the slow bleed and turning things around:
We now have to stop the slow bleed, last year Autonio has lost millions in market share dropping from $6 million to $300,000 just in a year. We were higher at about $50 million+ in peak and we have lost a lot of foot hold of the market mainly due to the lack of funding and other small mistakes that had happened. We will be going to implement a 10 step new deal action to stop the slow bleed and turn Autonio around for the best.
Plan of action- 10 step new deal:
Several new range of products will be released with a main focus on users who will be incentivized through NIO and other Air drops of supporting projects.
A new smart contract will be issued which will be more robust and will have more decimals which we lack and should be changed when value appreciate more.
Turning the project completely open sourced and incentivizing the many open source developers who will work on the project.
A constant push to list on many more exchanges.
Hiring of quants and more developers to speed up development and stay ahead.
Prepare a decentralized funding model with a inbuilt Dutch style auctioning for funding.
Complete transparency report monthly on finances.
Launching of Autonio blockchain. Making Autonio available on EOS, Waves, Bitshares, Binance chain and Tron blockchain apart from the current Ethereum blockchain.
21 members of community will be elected by community voting on blockchain to be multi signatories of a community fund that will be used to give out as grants to the people who contribute to Autonio.
A robust marketing team will be bought in to spread Autonio to wider masses.
Things to look forward to the future:
There will be a lot of great things to look forward to which will include a far wider adoption, much increased value and steady growth of the project and a multitude of products under the Autonio network. We value the users above all else and it will be time to show that growth to the users who have so eagerly waited for the last year.
Some bumps on the road:
The rogue team had stolen my source code/ IP also. Cowardly move by some of rogue ex team members who I had not removed as admin from telegram group, have banned so many of members from telegram group. I will add them all back.
Thank you,
Ben