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RE: Cryptocurrency Spotlight – Envion (EVN)

in #cryptocurrency • 7 years ago

I want to add to "What I don't like about Envion".
1- They lock Envion tokens. Investors can not sell or send their tokens unless Envion unlock them.
2- They don't communicate with investors, they don't response to emails.
3- Envion is now tradable on HitBTC and Yobit. I think both exchange have lots of scam tokens. I hope Envion is not one of them.

7 years ago in #cryptocurrency by
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     7 years ago 

    The locked tokens only seem to be for credit card purchasers. The six month lock was made known to them before they purchased, a fact that many conveniently ignored. Other locked tokens are those to do with the bonus referral system. Those will become available after the PWC audit is completed. My ICO tokens were never locked.

    The communication issue has been very bad as of March. they are well aware of it, but are obviously not prioritising it. It is really annoying me and is my only real Envion gripe at the moment. I speculated on it and the possible cause of it in this post: https://steemit.com/cryptocurrency/@bitbrain/crypto-shopping-cart-18-april

    Hit BTC isn't great, I'm not clued up about Yobit. But Envion has a bit of a listing problem: it is seen as a security almost everywhere - it's designed to pay dividends more than anything else. This makes it complicated from a regulatory perspective, and exchanges shun it for that reason.

    I trade Envion through IDEX. The volume isn't fantastic, but it's high enough not to be disadvantaged. IDEX is decentralised so you don't have to worry about it being dodgy. Envion itself is not a scam token. You can even look up it's German and American regulation applications with the SEC and it's German counterpart, or the company registration in Switzerland.

    Thanks for the comments.

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       7 years ago 

      "The locked tokens only seem to be for credit card purchasers."

      I don't want to complain them here. But believe me it is not correct.

      My opinion for the decentralized exchanges is, they are so young, they have no volume. Because of that, mostly, you buy at higher price, you sell at lower price.

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         7 years ago 

        P.S. you did see that the post had a "What I don't like about Envion" section near the end, didn't you?

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           7 years ago 

          I have lots to say, but I don't want to bother you.

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             7 years ago 

            As long as the spread is very small it's fine too use exchanges like IDEX, I suggest giving it a try.

            Please feel free to say whatever you like. This is a discussion platform: we learn from the thoughts and opinions of one another. I'm always eager to learn.

            If you have personally experienced issues with Envion and locked tokens then I suggest you put in a ticket. If nothing happens then challenge them on all social media platforms, the links are on their homepage. Remember that busy blockchain companies CAN take quite a while to answer. I just got a reply from one last week (not Envion) for a ticket I submitted in AUGUST last year! I just kept on nagging until they answered.

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               7 years ago (edited)

              I have already two tickets, and 27 emails, most of them includes "Please response". When I see a red flag on any project (actually there are more in this case), I just sell. But Envion doesn't allow me to sell my tokens by locking them. Do you know that:
              1- How many MMU's are operating now ?
              2- How and when will they take a snapshot of wallets to calculate the dividends?
              3- Will they inform us before the snapshot, so we may send our tokens from exchanges to wallets?
              4- When will they make announcements ? (They promised to make on mid-april).
              5 - They won't send dividends if the token amount is very small because fee may exceed the dividend. And we still don't know their dividend strategy.
              6- They promise us to give %161 ROI approximately. But I have already lost half of my initial investment.
              7- They don't want to inform investors anymore, they intend to inform investors just once a year like other ordinary companies do.

              I can count more and more.

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                 7 years ago 

                That's very bad of them. I would name and shame, share your tickets and emails on social media. Let me see if I can help with any of your other questions:

                1. I have counted three individual MMUs in their photos and videos. I suspect they are behind, but it is very hard to tell, we simply don't have enough reliable information.
                2. Wallet dividends won't be paid on snapshots, the dividends will be paid to whomever is holding the tokens at the time.
                3. See point 2. I would suggest not holding them on exchanges anyway, it's not as safe as a wallet. The dividends will be paid "after the audit", so we may get some warning, but it's not certain.
                4. They keep promising more and giving less.
                5. They have not determined a payout minimum limit. The way I understand that it will be dynamic i.e. the fee at the time will dictate whether it is paid or not. So if ETH is expensive that week it could be skipped, depending on how many tokens you hold. Payments are supposed to occur weekly. I assume all payments will be in ETH. They claim to be coin agnostic, but with an Ethereum based token, this is the only option that makes sense to me (unless they pay in EVN!)
                6. That 161% was not a promise! It was just an estimation. We all lost funds in the market crash, most coins crashed a lot more than EVN did! The estimations were originally done with October 2017 figures (if I remember correctly). The whitepaper revises this estimate to 181%, but this was not put onto the website in order not to get people too hyped up. I think that ROI will start off low but will increase up to and beyond 161%, especially if you hold the ETH that they pay out and don't just sell it immediately. I also think the EVN coins themselves will rapidly grow in value as payments grow.
                7. That's just speculation, but they are certainly being lazy now. For the record, they are still better than many others! Their fault was in originally keeping us very well informed, and then suddenly the PR department took a massive dive.
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