Crypto is up, so we have no other way but to grow with it. That's exactly what drives me on Hive. Crypto goes up, I go up, crypto plummets I go up or at least I don't plummet with it. It's not HODL, it's HODL 2.0 - BUILDL
I keep on building, creating and growing despite the market current state. Not so lucky for Stakecube users though...

Stakecube's current announcements:

Dear esteemed members of our community,
I reach out to you with a crucial message.
I regret to inform you that StakeCube will be temporarily halting deposits, trading, and withdrawals with immediate effect.
The past year has been challenging, and despite my/our efforts to keep the platform afloat, the recent events in the crypto space have made it increasingly difficult to do so.
I’m not going to blame our competitors, because that’s just an easy excuse – and I would like to clarify, this message will also shock the team members, they learn this news just now, like everyone else.
Technically, SC is and was insolvent for quite some time now, but still we survived longer than a lot of others.
In an effort to turn things around, we implemented drastic changes such as introducing withdrawal fees, terminating node hosting contracts, and implementing a new interest system. Additionally, many team members agreed to work on a voluntary basis. However, these measures ultimately resulted in the opposite effect.
Long story short, there is no good way to say this:
Due to the recent high volume of outflows, we will very soon be unable to meet our obligations to process user withdrawals requests.
While only a small number of coins are affected in terms of a balance sheet deficit (BTC, DOGE, LTC, DASH, and a handful of small caps), these are obviously the most valuable. The deficit ratio of assets vs. liabilities is high, with BTC and DOGE at 95%, LTC at 60%, and DASH at 10%. Most of the other coins are fully backed, actually overcollateralized.
The deficit was mainly caused by the illiquidity and decreasing value of our StakeCubeCoin, which is used to pay for things like servers and mining machines but instead was held to back a positive balance sheet. I am willing to provide a more detailed explanation if needed, but it is unlikely to make a difference.
So, everything was just a lie?
No, it was business as usual for everyone, everything announced in the newsletters (roadmap, v3 development, etc.) did happen, and it was never the plan to act like this – on the contrary – everyone in the team worked their ass off, no matter all the FUD coming from the community, in the hope that the crypto market would recover and we would be able to release updates and v3 in time to get back on track.
What happens next?
As for the future, I do not know. This announcement is the worst thing that has ever happened to me, and I fully understand the consequences. I’m at my limit, physically as well as mentally, knowing I hurt many people.
However, my first priority is to talk to some of the core team members now, so they can take over control.
I will also start to return coins back to SC which are currently held in wallets they don’t have access to, starting right away (incl. the priv keys for the > 1mil SCC funds).
I truly believe the most important team member ain’t gonna leave, those are good and honest guys and they will do everything they can to make things right for you, at least as best as possible.
The site and wallets will still stay up for at least a year or so as the contracts for the servers have been signed long term, it was never the intention to „break up“. The dev & tech team has access to all of them, they can take backups, just to be sure.
While this may sound cringe now from your perspective, I actually would recommend giving the team a day or two to let this sink in and allow them to map out a plan moving forward. As said, the site will stay operational as well as masternodes and so on. I really hope someone is willing to take the lead and act in a responsible way like spread deficits, unlock withdrawals for not affected coins, find investors, distribute SCC to affected users, work out a recovery plan; just to name a few – no matter what, I will be there to help with everything.
Many team members are also the biggest investors into SC and its coin, many community members have high interest to keep SC running, one way or another, especially after investing even more nowadays. We build an amazing ecosystem with the platform, SCC, SCP, eSports as well as coin explorer, botcube and what else. There are a lot of talented people with an interest to keep things going.
I still do see a lot of opportunities, including a bail out (it’s actually not that „much“ compared to other examples we saw last year), let others continue SC if they want or even by making all of the (v3) development open source, especially now there are signs of the market slowly recovering.
But is there a chance to make users whole?
To be honest, this will be hard. Maybe there is some investor interested; maybe over time, like after the hack in 2018. I will/can not promise anything like others do by saying „we work on a new product“, „we focus on stabilizing our liquidity“ or things like that. This may sound better for the user, but will just delay the inevitable.
Anyways, I want to make it clear I will not run away but you will understand that I’m also not going to argue with keyboard warriors out there. I have already gone through this once, including death threats and such. I’m very well aware of the anger you have, but I won’t be able to take it away from you.
That said, be assured no channel gets deleted by me but I learned my lesson to ignore “social“ media and will leave community channels, not because I’m afraid or don’t want to take responsibility but to put my time and focus into communication with the team to help to work out solutions, share everything needed. I will be in touch via Discord DMs with a handful of team members to answer any questions. Support will probably be flooded, so I think it will be better to wait for official communications from other team members about next steps. For other, non-support inquiries please use: [email protected]
Next, I want to highlight, no money was ever stolen, all of it went into paying development, team, and servers – but similar to other cases, the system was not prepared for a bear market, and yes, I’m happy to prove this anytime needed.
Nevertheless, I still can imagine all the „wen jail“ type of messages I will get and I don’t expect you guys to just accept it, but straightforwardly spoken, we all are aware of the risks, especially after last year’s events; from both perspectives.
Remember, StakeCube is not insured or a licensed company, taking terms into account, going through an insolvency process will end up in users losing even more value and the risk we get forced to publish user information. But I’m also ok to go this route, if needed.
So waiting any day longer, will make things just even worse. Even if it’s late, it’s not too late.
Last but not least, I do apologize to all of you who have been affected by this, and to everyone I kept in the dark up to literally the last second.
I’m grateful to all of our users for your continued support over these 4 years – and I honestly wish the SC saga continues as it surely would be possible, the right way.
Oleg
Friday, 13th January 2023

The team answered:

StakeCube Team Statement

The announcement from Oleg on Friday took you and us in the team by surprise. It’s still a shock to us all but rest assured that the team is working on getting back on track. We are still working on collecting all data and numbers to understand the complete situation. Meanwhile, we got several offers and ideas to help StakeCube with the current situation. Email offers are forwarded from Oleg to the team. Oleg is cooperating with the devs and the tech team to hand over control of all wallets and to return all funds back to the hot and cold wallets. They are also working on getting the wallets back online for unaffected coins. Earn and Interest will not be active until further notice. The fee for ending an interest position has also been removed, so feel free to terminate those. NodeCube will continue to work as usual with still 5500+ nodes running. We understand some are sad, angry, frustrated, and much more but we thank you for your patience while we work out a plan. To make it clear Oleg is no longer deciding here at SC, we have a full team of people doing everything they can for the community through these difficult times.
Best regards, the StakeCube team.

Piggy Bank Report proper part

Welcome to my stakecube piggybank report. My aim is WAS to collect enough funds to make stakecube list Hive on any of their markets (StakeCubeCoin or BTC). But since Hive does not pay for being listed, we are going to pay stakecube users directly via community faucet. We don't need to raise thousands of dollars to make it worthwhile. If we won't succeed by 31st May 2023 all the funds will be returned as stated in rules.

The rules under this account operates can be found here.

There's a slight correction - I mean all the posts will be published with 50/50 ratio and H-E tokens will be converted into HivePower.

How much did we raise? The best thing is that we can only go up from the start, in terms of Hive. Of course, in terms of dollars the raised funds may decrease, but since on Hive you can put your funds to use without entrusting them to anybody I hope I can beat the bear market. No interesting moves on H-E wallet. This week report isn't as great as previous ones, because we didn't get the rewards for the last report yet. I'm really excited that we can receive curation rewards - it ain't much, but it's honest work.

Let's head on to the numbers:

Asset	Quantity	Value in USD	Change since last week
HP	63.077 HIVE (+6.235 HIVE)	X	X
HBD	7.271 (+0.178 HBD)	X	X
TOTAL	X	28.34$	+5.96$

TOTAL: 28.34$

We are already at the beginning, but if you take in mind that StakeCube's faucet claims give about 0.005 $ which means we have already gathered enough funds for 5 668 claims.

SOL donnors list

This list will be updated:

1. @jocieprosza 9 SOL
2. @sk1920 5 SOL
3. 3 @asia-pl 6 SOL

Why list Hive

If you're an outsider and wondering why would or should Stakecube be interested in listing Hive at all. Hive is the only working implementation of Web 3.0 in terms of both infrastructure and control - it has no central entity that can be served or banned. The Hive is a community of over 30k active users (currently) onboarding hundreds of users daily.
In order to properly asses Hive market one needs to sum up it's whole ecosystem of first layer (let alone second layer) and its diverse variations. To sum up - Hive has many avatars.

1. Hive is undervalued and its marketcap is bigger than coingecko shows,
2. It may bring you another stream of revenue (you might introduce staking, delegating and leasing options for your users),
3. It may improve your income stream by publishing reports/announcements on Hive,
4. Hive and its soft-peg stablecoin HBD have prooven to be working and safe during crises,
5. Hive is actually used,
6. Listing Hive is a forward escape from CEXes issues by sending the message 'Hey, we're sound enough to list new projects'

Native Hive

Hive Backed Dollar - Hive stablecoin

Hive Backed Dollar - on Binance Smart Chain

Hive on Binance Smart Chain

by @jocieprosza
P.S. If you have any questions, please do ping @jocieprosza so that I won't omit the message.