It might be an unpopular idea, but those who participated in the Kylin crowdloan made a bet on that project and lost their bet. Would it make a bad precedence if they would be saved from their bad decision? If this was a regulated area in a given jurisdiction, participants could sue Kylin for misleading them and depending on the phrasing of their contract the judge would either save them or not. Since this is not the case, and their contract is quite sketchy (lock some DOTs, get some of these Kylin magic beans), you could argue the participants agreed to this risk.
What I read from Kylin selling the paraID to Composable really upset me though. Because why would you be able to separate the paraID from whatever the Kylin project promised to their contributors? Can we just make Composable liable for delivering Kylin’s promises to crowdloan participants, too? THAT is what this paraID removal should be about in my opinion.
That part is the most important, that they sold their slot to someone else without announcing anything. And I can understand them after all they’ve done, but Composable was silent about it, while they were using it, as Jafar said.
To start with, you are respected no matter what, at least from me a humble investor and anonymous as always.
Please help me understand this and pardon my naivity on parachain matters.
Me myself (representing a handful as I know of people) who invested and lets say “took the bait” and believed in the project, following the matter and knowing Composable inheriting the slot, I agree with you waiting this out BUT like you said there is always a BUT in any story, what do we expect from Composable in the end of the day?
Will they “save” us who hold hundreds of thousands of Kylin tokens or will they just take over the slot and thats it?
certain “wallets” do still buy KYLIN by 100s of thousands eg 5ETH and so on every week… I do as I said understand a certain limited level of how things work in parachains but I DO understand a VAST amount of how economy works and I dont get this why on earth would these certain wallets load up 700K 1M of tokens of Kylin if they do NOT have any info on the project’s future…
Please entertain the idea and again I do respect you and your time but I DO value your thinking.