I was just immediately kicked out of the UMC Telegram group without reason or warning by the mod for voicing my disagreement with their new bonus structure. This is incredibly inappropriate for a team to do to an early angel investor. UmbrellaCoin Mod, if this is a policy for your mod team, don't even think about deleting this post here because I will make a new thread and write about it on my Steem. It's already saved to my hard drive so super easy for me to do. You should have allowed a discussion instead of auto-banning dissent.
The community should know that any voiced criticism of the team is being deleted immediately on their Telegram group. People on the telegram group are wondering if there is something wrong with the app that messages are being deleted, but the truth is that we are being censored. I do not appreciate this, nor does the community. Some members of the community were voicing their agreement with me, which makes it all the more inappropriate to ban me in an attempt to silence dissent.
The bonus structure has changed with this new ICO, and these are different terms than we invested with at first. Early investors were promised a 100% bonus over other investors, which we were all entitled to receive when the smart contract ended. Our original coins were doubled for all the problems the team had, but now we find these new investment terms with tiers of 400% and 300% bonuses offered. In effect, there is no bonus for those that invested originally compared to the 400% tier, and decreased bonus than originally promised compared to the 300% tier. This amounts to dilution of the early investors. The team did this simply because there were not many people investing at first, and they want to attract more funds. They did not even ask the community for our opinion when they changed the investment terms.
Hey, everyone!
This is has been a crazy month for us here at Umbrella Coin. Our last month had few ups and downs, the major being the transition of the new team from previous team and subsequently the loss of a great development team. Today were pleased to announce after discussions with few aspirants, weve hired a new developer towards our project. The new developer is a research scientist at Virginia Tech and has worked on lots of projects as a hobby and commercially. In the last few days, he has worked on the product to add support for UI for uploading documentation for claims as well as support for integration of UMC wallet with user accounts. Right now, mostly efforts have been made on UI development side and we will continue to work to add functionality to the buttons and integrate them with smart contracts.
On another note, we have revamped and relaunched our smart contract to give a greater bonus to our investors. As of now, we have compensated all previous investors with a doubling of your initial investments. We have also developed a new reward tier system for the remainder of this sale. The news tiers will be as follows:
1st Tier: 350 ETH we will give a 4x bonus (2400 UMC/ETH)
2nd Tier: 351-1000 ETH we will give a 3x bonus (1800 UMC/ETH)
3rd Tier: 1001-1950 ETH we will give a 2x bonus (1200 UMC/ETH)
4th Tier: 1951-4000 ETH we will give a 1.5x bonus (900 UMC/ETH)
4001 EtH and after will receive 600 UMC/ETH as normal
You can join our crowdfund by going to
https://www.umbrellacoin.org/crowdfund/Remember, we will not and do not post our contract address anywhere other than the site. If you see it anywhere else, it may be an attempt to trick you.
On a last note, I would like remind everyone that our #getyourumbrellasout picture contest is still running to the end of the crowdsale! Dont forget to submit those pictures, because the ones we have gotten so far have been great! For more info on this contest visit:
https://www.umbrellacoin.org/umbrella-coin-photo-contest/ We cant even begin to express our appreciation for the support that our amazing community has provided us over these past months. We would like to thank everyone involved for helping us make this project as successful as it has been. Together, we will make rainy days bright again.