The Yieldnodes system has been growing for years now and with these expansion in funds and users, serveral compounding issues have arisen. The time has come to slightly restructure our payout schedules.
Future withdrawals from Yieldnodes (except for SAPP which is more in system control) will begin on the 7th of each month and may take until the 11th to complete for every member. Due to unforseeable circumstances there is a need to expand the window in which we can act and take counter-measures against unforseen events such as centralised events witholding funds from users.
We wanted to advise you of what has happened today:
Exchange Binance just locked up a portion of funds due to compliance issue. They said they will probably unlock it later, but we can’t count on that.
We can not depend on what others dictate and be at the mercy of powers we cannot control. This is the opposite of why many of you have chosen to deal in cryptocurrency.
These events can occur, we need time to work around this reality by shifting assets in and out of other operations to pay the funds as well as having time to move funds from offline operations into the online market. The YN system has reached a massive size of some of the withdrawals requires a longer, steadier pay-out process with lower volumes. We need to ensure that YieldNodes can keep prospering so that this latest event becomes the last “accident” and no longer repeats every month – making us take 10 steps where only 1 was planned. we want to look for solutions to prevent this from ever happening again and avoid giving individual entities that power over us and our community.
Withdrawal sums need to trickle out more gradually over a longer period of time, also helping to ensure that no errors occur in the pay-out process due to unnecessary stress. The process of paying thousands of users has become very complex due to the many different currencies being exchanged from exploited masternodes.
This year also brought some new features such as OTC Buys, Sapphire deposits, the bonuses, and the App over a short period of time because we want to be builders in a bear market. We added rather than laying back and letting things run their course. We need time here as well in order to analyze the impact of these changes on the ecosystems and determine what’s viable and what isn’t.
With immediate effect, non-SAPP withdrawals will be paid out starting the 7th of the month, and be completed by the 11th!
There’s a reason that Decenomy grows and takes over other projects. We hope you see tireless effort in this regard. We’re here, we work day and night to keep your best interests at heart.
With every change the highest directive remains to do so to benefit participants of YN.
We put our trust in you as much as you put your trust in us, so we adapt and overcome as we always do – even in a bear market.
After completion of all withdrawals the confirmation email will be sent as usual.