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Important Update: Payment Delay and System Restructuring
Published at:
Nov 19, 2024
Important information about the system

Dear Neuralink Network members,

We want to inform you of some critical platform updates and changes. Due to an issue detected last Friday, we've discovered that the system mistakenly calculated our profit for the pools on TRX instead of USDT. This discrepancy, combined with the surge in crypto prices over the past week, led us into a situation where the platform's running costs have surpassed our collected fees. This discrepancy is a significant issue; we've been working tirelessly since Friday to correct it.

As a result, yesterday's payment had to be delayed, and this situation will be corrected by the end of the day tomorrow. Here's what's happening:

What We Are Doing to Fix This

  • Recalculating Rewards: The system is recalculating all rewards using USDT as the base currency.

  • Unpaid Rewards Adjusted: Any unpaid rewards will be adjusted. Due to TRX's fluctuation (from 0.15/0.16 USDT during operations to 0.21 USDT today), you may see a difference in value. However, it will reflect the correct amount as of the end of the pool.

  • Paid Rewards Remain Unchanged: All rewards already paid out will remain the same. We are absorbing this error as an operational cost.

  • Removal of TRX Wallet: The TRX wallet will be removed. Users can access NLN, USD, and USDT wallets. The system will convert any value still in the wallet to USDT.

  • New Reinvesting Feature: A reinvesting button will be added, allowing members to quickly transfer capital from USD to USDT, speeding up reinvestments and reducing fees.

  • USDT Wallet Enhancements: The USDT wallet will now display funds in two states—Available (ready to use) and In Transition (pending clearance).

  • Automatic Conversion to USDT for Investments: The system automatically converts all new investments to USDT.

  • Expanded Currency Options: The system will now accept additional deposit currencies, including USDT.

  • New Withdrawal Options: USDT withdrawals will now be supported via TRON, MATIC, and BNB networks.

Why This Is Necessary

Currently, the costs of running the platform have reached three times our income, which is unsustainable. We are losing runway fast; if addressed immediately, we can maintain operations. However, our platform is one of the best in the market, and we are committed to making necessary changes to ensure its sustainability.

To address this, we are implementing a temporary 48-hour pause on creating new pools while we restructure our systems. Please note that during this pause, a few custom private pools will still be running as required by contract.

Upcoming Changes to Pool and Subscription Models

The restructuring will involve the following adjustments:

  1. Extended Pool Duration: Pools will now run for 40 days instead of the current 22 days.

  2. Faster Withdrawal Clearing: The maximum withdrawal clearance time will be reduced from 10 to 7 days.

  3. New Minimum Capital Requirements:
        - Low-Risk Pools: 2,000 USDT
        - Medium Risk Pools: 3,500 USDT
        - High-Risk Pools: 6,000 USDT

  4. Revised Subscription Model: We are introducing a new subscription structure with monthly, bi-yearly, and yearly options.

  5. Caps on Investments: Investment Cap will now replace Allowances. We have simplified the subscription fee with a flat rate. Now, there's only one level of subscription. Any remaining time will be converted into NLN and returned to the members. The monthly subscription cost will be 20 USD (paid with 10 USDT and 10 USD worth of NLN). This change will allow the members to invest up to 10,000 USD in any pool. There are options to pay for 6 or 12 months. Paying for 6 months will grant the member one month free, and for the 12 months, 2 months free. So 20 per month, 100 per 6 months or 200 per 12 months. The investment cap resets monthly and counts from the day the subscription starts, at midnight Central European Time (CET). The subscription can be upgraded to double if the member requires a higher investment threshold. This upgrade will double both the cap and the cost. Unused Investment Allowance will not be carried out for the following month. Further information on the subscription model will be published in a separate article released within 48 hours.

Final Thoughts

We understand this situation is less than ideal and sincerely apologize for any inconvenience. Please rest assured that we are doing everything possible to resolve these issues quickly.

We sincerely appreciate your continued trust and support during these challenging times. If you have any questions, please get in touch with our support team.

Thank you for your understanding and patience.

Best regards,
The Neuralink Network Team