Although the team is trying to make it look like they're working on something it's most likely that it is just another scam ICO. Just slow exit one. We've summed up some facts about their fraud, if you could share it with news websites such as Coindesk and journalists start asking questions the team will eventually decide to spend some money on development and make TRST usable in their products which would cause its price growth. We've got Telegram group everyone is welcome to join
https://t.me/joinchat/F0J7uxYM8w3KC04sVMq_ggHere are some facts:
• They raised $5M in ETH and in addition reserved 10% of the TRST tokens to themselves. At the peak of the bubble their crypto stash from the ICO would've been worth around $70M. At today's prices they should have at least $10M left.
• Despite that they say they are experiencing financial difficulties.
• The team refuses to show financial details to TRST investors.
As for the development:
• The only "product" they made is a web page, directory of charities, and a donate button for each of them: https://spring.wetrust.io
• TRST token functionality has still not been developed.
• More of that TRST token itself never meant to have any functionality inside the product although during ICO they called it fuel, but since it is not ever consumed, using the term "fuel" to describe the token was incredibly misleading.
• The team did not follow their roadmap released in 2018 https://blog.wetrust.io/the-road-ahead-for-wetrust-f53e8ca898df
• Around ICO time they had some dispute with one of the founders, Ron Merom, with whom they still have a lawsuit until this day. No further details are known.
• They ban users in their Telegram group for asking inconvenient questions.
• Their updates are so vague and corporate speak is in almost every message about their "mission for financial inclusion" etc etc. But no actual details or development plans.Thanks for the detailed fact that you exposed up there!
I have to agree with you on some facts, indeed they raised a lot of money and they should cash out some back in the days, if they experience financial issues in this bear market is their fault as they didn't know how to manage the funds raised in their ICO.
Anyway even if they have held the funds raised, as you said, they should have enough funds to continue the development of their product/s. This is not an excuse.
Regarding the roadmap targets, I don't care about it too much, many projects out there miss their deadlines too often so I won't have many expectations (regarding deadlines) from any roadmap out there.
About the dispute between founders, I didn't know, but this is a bad thing for the project, looking at Tezos for example.
In conclusion I would give them the "not guilty" verdict until they will prove something else,
slow exit scam, as you called it.
P.S. I don't take their side, but I don't like to hit a man down. Time will always tell...
