Source: Shenzhen Chain Finance
Author: Buliang
This star project that once raised about 7,000 BTC, not only are Wu Jihan , Da Hongfei and other cryptocurrency celebrities in the cryptocurrency circle standing behind it, but also industrial giant Foxconn , and even the founder of the project side deliberately pulled his alma mater Tsinghua University to endorse it.
However, this beautiful project cannot withstand the test of time - it even took only 8 months. After the founding team announced that it would unlock the angel lock share in advance, it became the target of public criticism.
intercepts tokens worth 5.8 billion yuan, changes the white paper, and unlocks the angel investment share in advance. Behind the formation of Chen Rong, Wu Jihan and others, this former star project has now become a "hunting ground" for hunting investors in the eyes of some investors.
Easily said the "Eight Crimes"
"Chen Rong ran away and went to the United States."
On October 25, with the release of the white paper on rights protection, Chen Rong and Han Feng, the two founders of Tsinghua University's doctoral title, instantly became the targets of criticism from many rights defenders.
Just one day ago on October 24, Elaiyun's official WeChat official account published a letter titled "Elaiyun founder Chen Rong to the community", which said that it meets the requirements of expanding the international market, and the angel locking plan ended early.
Affected by this news, the price of ELA token ELA plunged sharply, down 18%.
Elai Cloud was initiated by Chen Rong and Han Feng, two PhDs from Tsinghua University, and was led by Bitmain Wu Jihan and NEO Da Hongfei as project consultant and early investor. It started fundraising in 2017. After three rounds of fundraising, a total of 6,960 BTC was raised, which was equivalent to about 700 million yuan at the end of 2017.
According to information from the data platform non-small account, Elaine Cloud's price on October 30 has fallen 92% compared with the highest point of 568 yuan this year, and has fallen 60% from the private equity price.
accompanied by a lot of criticism, the first white paper on rights protection in the history of blockchain was born. The author listed in detail the "eight crimes" of Elai Cloud project:
In summary, it is: Elai Cloud's official not only failed to fulfill the promises made by the white paper, privately misappropriated 16 million ELAs, and did not give the big players who locked their positions the 10,000 coins to cash out, but also deliberately called for high orders to cash out in advance, which led to the price of the currency falling all the way, and many early investors became targets of harvest.
Faced with the massive online rights protection, Chen Rong told Shenzhen Chain Finance on October 30 that he is now in the United States and will give a lecture at Stanford in the future. Elaine Cloud's technology development is in progress in an orderly manner, and the project will not be affected by rights protection.
was accused of forcing Tsinghua University to endorse
When talking about the reasons for investing in Elashima in the early stage, most investors admitted that they came at the beginning to be based on the signature of Tsinghua University, and Elashima’s publicity forced themselves to tie themselves to Tsinghua University, misleading them.
An investor showed the early official website of Elai Cloud in the group. The center is the Elai Cloud promotional video with Tsinghua University as the cover. All the scenes in the video are related to Tsinghua University. In the promotional materials such as Elai Cloud White Paper, there is also a special indication of the existence of the "Tsinghua University Elai Cloud Blockchain Joint Laboratory". All publicity seems to imply that Elai Cloud is related to Tsinghua University.
However, Yuan Xun, an early employee and engineer of Elaiyun, denied this. "Chen Rong and Han Feng were once students of Tsinghua University, and Elaiyun had no relationship with Tsinghua University."
Yuan Xun said that he was an assistant professor of Tsinghua University at that time, so he borrowed the office of Tsinghua University's iCenter from the professor and gave it to Chen Rong as Elaiyun's first office. Unexpectedly, Chen Rong later claimed that the office was his own, and he kept asking people to visit it, becoming the "Tsinghua University Elaiyun Blockchain Joint Laboratory" in the white paper, which was used as endorsement of Elaiyun's strength.
After 94 last year, a regulatory storm hit, and many project parties had to return coins. In order to stabilize the morale of the military, on September 5, Han Feng said in the investor community that the Beijing Financial Bureau intends to let Elai Cloud enter the Financial Industrial Park.
Now it seems that this is just a means of publicity.
intercepts tokens worth 5.8 billion
"The spirit of blockchain is decentralized and cannot be tampered with, but Ela Yun's white paper is like Chen Rong's letter, which can be changed if you want."
In the eyes of rights defenders, what hurts them the most is not the decline in the currency price, but the official dialect of Ela Yun without trust.
Dachen was an early investor of Elai Cloud. He said that he was attracted by the brand of Tsinghua University and the strength of investors, and resolutely chose to lock in 25,000 ELAs, which was worth tens of millions at the price at that time. And they jointly formed the Elaiyun official group and the Elaiyun enthusiast community with other large investors to actively promote Elaiyun, but unexpectedly, they were eventually reduced to the target of harvest, and the Elaiyun official community became a rights protection group.
At present, for rights defenders, they are most concerned about two issues: one is the issue of the ownership of 16 million ELAs; the other is how their due rights are protected.
is worth about 660 million yuan per ELA at the price of about 42 yuan per piece on October 30.
The first white paper of Elai Cloud stipulates that the Elai Cloud Creation Block will create 33 million Elai coins at one time, of which 16.5 million will be given back to the Bitcoin community, which is equivalent to an external airdrop to enhance Elai Cloud's influence. However, this is not the case.
html After Huobi was launched in February, Elaine Cloud airdropped 500,000 ELAs through the Huobi Exchange, but privately intercepted the remaining 16 million ELAs, equivalent to RMB 5.8 billion at a price of 364 yuan in mid-February.and in the second edition of the white paper, the use of ELA has changed from the original "giving back to the Bitcoin community" to "ecological construction". For investors, this is undoubtedly a huge blow, because the circulation market has decreased, and more than 70% of the chips are in the hands of Elai Cloud official, and they have become real "market makers".
Secondly, early investors such as Dachen chose to lock their positions because Elai Cloud promised to give locked investors the right to make decisions on major matters, which is equivalent to investors using at least 4 million assets for a committee ticket.
and Elaiyun official once again disappointed them. The large locked-in investors did not get any rights, and the Elaiyun Community Co-governance Committee was in name only. Instead, it was the Cyber Republic (CRC) Community Co-governance Preparatory Committee established on Chiang Mai on August 25, 2018, and Elaiyun donated 15.73 million ELA to CRC.
According to the tweets of Elai Cloud's official WeChat account, all the members of the CRC are from Elai Cloud staff.
They are former director of Elai Cloud Foundation Su Yipeng, head of Elai Cloud marketing Li Feifay, head of Elai Cloud overseas developer community Zhang Ge, and secretary-general Zhu Feng, assistant to Elai Cloud chief architect.
For early lock-up investors, this is undoubtedly a kind of deception and betrayal. The ticket they exchanged for tens of millions of assets was just air in the end. Elaiyun just used his left hand to rush his right hand and transferred 1,573 ELAs to the CRC they controlled.
Some investors said that it made them feel even more heartbroken, and there was a difference between inside and outside, "respecting foreign countries and fascinating foreign countries" to help foreigners cut Chinese leeks.
On August 1, 2018, the private equity round was unlocked, and the coin price fell sharply, from 100 yuan to 70 yuan. Just a few days ago, Fay Li, a member of the Elai Cloud team, publicly reminded foreign short-term speculators to sell ELA as an administrator, in the Elai Cloud International Telegram group, to ensure that the interests of members of the foreign community are protected.
Chen Rong also made a public response to the allegations of rights defenders in the telegram group.
Chen Rong told Shenzhen Chain Finance on October 30 that
did indeed plan to airdrop 16.5 million ELAs at the beginning, but it was forced to suspend due to technical problems and policy reasons. Using these coins for ecological construction will help create value for ELA.
The rights and interests of the locked-in owners of 10,000 coins were damaged. Chen Rong responded that locking the position does not mean that they will automatically become members of the community co-governance committee. They have not made such a promise. Everything must be democratically elected. At present, the members of the CRC are only temporary and will conduct comprehensive elections in the future.
At the same time, Chen Rong said that he and other angel investors have never sold any ELA, and there is no saying that they cash out at high prices.
Foxconn makes a profit by entering the market
"Elastos is just an OS that has been developing for more than 17 years, and has expired and failed. After putting on the concept of blockchain, it is used to issue coins to raise funds." An investor who is familiar with Elaine Cloud's past experience commented on Elaine Cloud. In his opinion, Elaine Cloud is just a new wine filled with blockchain.
After investigation, Deepchain found that Elaine Yun was an entrepreneurial project that Chen Rong started in 2000, but did not achieve outstanding results. The real shareholder behind it is Foxconn Group.
In 2000, Chen Rong officially started Elastos and registered and established Shanghai Ketai Century Technology Co., Ltd. three years later to carry out the research and development of Elastos operating system.
Shanghai Ketai official website shows that it has developed a total of five products: Elastos OS, Elastos box, Lamobo products, Bubble Cloud Monitoring, Bubble Cloud Box.
Among them, Elastos OS is positioned as "a home intelligent cloud operating system developed based on Linux system", which is the predecessor of Elastos Cloud.
. Such a so-called intelligent operating system was originally used for CNC machine tools, but later it moved to mobile phones and home smart clouds.
At present, Deepchain Deepchain can no longer find the latest recruitment information of Shanghai Ketai and Chengdu Ketai on major recruitment websites; at the same time, the official sales platform of smart hardware, Bubble.com, can no longer be opened; related products cannot be found on JD , Suning, Taobao and other platforms.
Open the official website of Ketai Huajie. The disrepair brought some desolation. Click on the introduction of Elastos OS products, but directly link it to Elashima official website elastos.org.
A clear context appeared in front of you: Chen Rong started developing the Elaine Cloud system in 2000. After 17 years of technological research and development, it was just a mess. So in 2017, Chen Rong took Elastos OS to switch to blockchain, becoming a hot star project in the blockchain field.
After equity penetration, the investors behind Elaine Cloud also surfaced through "Shanghai Ketai Huajie Technology Co., Ltd." where Chen Rong served as chairman, that is the world's foundry industry giant - Foxconn.
According to Tianyan Check information, Shanghai Ketai Huajie Technology Co., Ltd. is wholly owned by Fuding Electronic Technology (Jiashan) Co., Ltd.; information from the Taiwan Stock Exchange shows that Fuding is one of Foxconn's subsidiaries in the mainland, and the email domain name left in the industrial and commercial registration also confirms this. Both companies' email addresses are Foxconn Group email addresses.
What role does Foxconn play in the entire Elysees project?
On June 25, 2017, the first working meeting of Elai Cloud was held at Tsinghua University. The minutes of the meeting showed that Han Feng, Chen Rong, Da Hongfei and Wu Jihan, as founding teams and angel investors, invested 400 bitcoins and obtained 4 million ELAs; the last remaining 1 million were allocated to Foxconn and Chen Rong.
Era Cloud's official roadmap shows that on July 1, 2017, Foxconn's legal department authorized the use rights of the "Era Cloud" trademark to the Era Cloud team;
On July 6 of the same year, Shanghai Ketai officially revised its company's articles of association. These 1 million ELAs seem to be the bargaining chips for Chen Rong to purchase the "Era Cloud" trademark and the original operating system from Foxconn. Based on the price of a high of 500 yuan, the 1 million ELAs are worth RMB 500 million. Chen Rong responded that he did give Foxconn the corresponding bargaining chips, but he denied that angel investors had cashed out.
A operating system that has failed in the traditional sense has "resurrected" under the operation of the cryptocurrency industry giants and the world's largest foundry. Can blockchain truly save domestic operating systems? I don’t know, but most of the wealth games that top players participate in are destined to be losers.
Note: This article is original by Deepchain Deepchain (ID: deepchainvip), and is reproduced with authorization by Sanyan Finance.
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