Dear @everyone, from Kyle. I wanted to take a moment to provide you all with an important update.

02 Jun 2023, 22:12

Dear @everyone, from Kyle I wanted to take a moment to provide you all with an important update. Following my previous announcement, I recently engaged in an extensive conversation with Leo, which was followed by a comprehensive team meeting aimed at addressing our current situation. It is crucial for us to be completely transparent with each and every one of you: Multichain has undeniably had a negative impact on our operations. This has unquestionably dealt us another blow, especially given our current circumstances. Fortunately, we had not allocated a substantial amount of funds to the Multichain bridge, which means that the impact has been somewhat mitigated. However, all of our funds associated with Multichain are stuck due to the current situation with Multichain’s CEO, which according to Multichain, is the only person with access. This includes the funds we had staked in order for Multichain to adopt us and provide their services to us. As a result, our already challenging position has been further compounded. Consequently, there will be temporary implications for the bridge. When it comes to the bridge, we will be clearing all current pending funds and then pausing it. So, if you have funds in the bridge, the transactions will be pushed through within 72 hours from now. Leo and Joe will be personally taking responsibility for this and funding these transactions with money from their own businesses. We are on track to deploy the NFT shop within the next weeks and Pinnacle Staking soon after (continuous communication will be made by DadGoesCrypto in regards to its development). We want to emphasize that we are striving for utmost transparency in sharing this information, but for the time being, while the rebate program will continue, bridging out will be temporarily rendered impossible while we gather funds to be able to back the bridge. Redlight Network remains 100% committed to clearing the rebate and we are working on building sustainable revenue streams that will see it to completion. We are actively in talks with VCs to expand our revenue streams and there is a lot of interest in our technology, so we’re not necessarily worried about that part. Rest assured, we will provide you all with a roadmap outlining our plans. Additionally, we are in discussions with our prominent upcoming partners to establish new Non-Disclosure Agreements (NDAs), allowing us to share further information about the exciting future that lies ahead. Information, I’m sure will ease all of your minds about the future and come to the realization of what it is you’re taking part of. We are in communication with our unannounced partners to strategize a rollout of our communications that will be mutually beneficial. That will include a full PR release, complete disclosure of the mechanics of our partnership, and what it means for the ecosystem. Thank you for your unwavering support and understanding during these challenging times.