What rules of the forum have I violated? All of my message is to get my investment back.1754 FACTORY violated the contract. I also contacted the so-called founder as per your instructions but got no reply at all. This case is not only me as you saw. To be honest. What is this forum for? What is your role in this forum? Where else can I ask about not getting my investment back other than on this forum?
Hey all. This is my first post, but I’ve been closely following the 1754 factory issue. If investors arent able to be made whole, it sets a bad precedent for the future. From my understanding, this was among the early pools set up before the Centrifuge Credit Group’s formation. I think the Credit Groups is a huge step in the right direction. Trust is essential; investors need to believe in the processes and parties. If we aim to bring more participants, ESPECIALLY non-crypto native folks to use centrifuge for RWAs, we must have safeguards. whatever these measure are, they should be able to prevent the need for off-chain actions when faced with bad actors… but i dont know what they could be. Is there a mechanism we can implement to ensure that pools are not misusing the funding?
If you have read through the entire thread, you will realize that the centrifuge team is trying to distance themselves away as far as possible from the creditor. Even the moderators are cleaning up things which people said that are against CFG team, using ‘forum rules’ as an excuse.
Please see the correspondence below on the North Lakes Legal proposal to review 1754 Factory. Based on this communication and the lack of an engagement letter with 1754 Factory, I have not undertaken any review or report.
It’s better not to expect much from them. Take this as a lesson: don’t trust these so-called ‘DeFi’ or ‘RWA’ passive income schemes in the future. When things go wrong, they will simply push responsibility around and essentially do nothing. Personally, I experienced a 25% loss of my capital, but managed to recover it through airdrop and ido. now i will just wait and see where this goes, Don’t waste your energy on them
Does the maturity date make any difference? I get the sense that the investments of Series 3 senior tranche holders are in jeopardy, if not unrecoverable, same as those for Branch Series 1-2.
Why would there be “other assets in the pool” unrelated to Branch?
Is a meeting of the “creditor committee” scheduled?
Finally, for Branch Series 1-3, for senior tranche holders in particular, can an update be provided on the recoverability status of these investments and on the steps being taken to recover these investments.
Of course, the maturity date makes a difference. Loans cannot be in default if they are not mature. Loans are in default only when not paid upon the due date.
The Branch PPM does not limit 1754 Factory LLC to only provide funding to Branch. It can use the funds raised for other purposes (loans).
There have been a number of calls with interested Series 1 DROP holder creditors.
For Series 1, those interested creditors which have joined the committee and signed an NDA are aware of the steps being taken to recover the assets by the creditor committee. I do not know what other steps may have been taken by other creditors not part of the committee.
Agree. You as a company connecting investors to issuer, should provide regular updates on the 1754 factory situation to investors, but instead, they ask each of the investor to contact a ghost email that never replies whenever we wondering about 1754 current situation, basically they did nothing, It shows how lazy and irresponsible they are, These people are the reason why we need regulation or a ban on the defi.