DOT : Centrifuge are Stealing the Crowdloan Rewards

As many of you may or may not know, approximately 2 years ago, Polkadot started Parachain Auctions. Basically projects asked the community to vote for them to recieve a dedicate Parachain slot to begin operating on the Polkadot network. Users were required to lock DOT for a period of approx 2 years, it return for voting for the projects, they would recieve rewards in that projects native token which were meant to be released during that 2 year period, there would then be a vesting period and eventually the rewards unlock, and at the end of the period the DOT is returned to the the wallets of the users automatically.

Sounded like a great idea. Right?

Well some project ended up being almost complete scams, some of the biggest project ran into major issues (See Acala which was one, if not the biggest project's) and some of the projects ended up paying out large rewards to the users. More info here: https://parachains.info/

Some users ended up taking massive losses as the users contributed when DOT was around $40-$50USD and eventually the price dropped to around $4 but the users were unable to sell due to the token being locked in a smart contract for 2 years, and there was nothing that could be done as these token were locked away. Some Project came out with amazing results like Moonriver, Asatar (more on the results here: https://parachains.info/auctions/kusama ) which paid out great rewards despite the users loosing on the value of the DOT dropping during the lockup period.

During this period it was shown that some of the other project were downright scams, and run by known fraudsters such as Picasso and Composable Finance, which were shown to be run by the known fraudster Omar Zaki. Picasso recently passed a vote to take back all the rewards and award them to the treasury, and Composable never paid out any rewards still 2 years later. The Picasso debarcle was announced on twitter and users had 24 hours to withddraw or claim, many did not know about this and missed the chance (https://cointelegraph.com/news/exec-at-composable-finance-allegedly-doxed-as-convicted-fraudster-omar-zaki)

This week Centrifuge Finance passed a vote to disable claiming of rewards and will just 'burn' all unclaimed rewards from the very users who supported them, and voted to get them their parachain slot. https://np.reddit.com/r/Centrifuge/comments/1ak3wdc/important_governance_update_on_cp84_unclaimed/

They say they are doing this for "Tokenomics reasons" and i quote from: https://gov.centrifuge.io/t/cp84-unclaimed-polkadot-rewards/6035

Short Summary

• Discontinue claiming of Centrifuge crowdloan rewards

High-level objective

• This proposal, if passed, will discontinue claiming of Centrifuge crowdloan rewards which will beneficially impact the tokenomics of Protocol

Beneficially impact the tokenomics Protocol? Is this another way to increase the value of the tokens of the project devs and their friends…

They have given a longer warning than Picasso, and are going to burn the rewards, which is slightly different and picasso sent them to the treasury, it obviosly did not sit well with the community but there was nothing to stop it happening once the "whales" "voted" as you can simply not outvote them…

So now we are seeing Centrifuge(CFG) doing a very similar tactic of taking away the rewards from anyoen who may have not claimed them yet. There was not warning when contributing to this project that there would be an expiriry date. I personally am not following Twitter or X to see these updates and many usersr are going to be shocked to find out their rewards have simply dissapeared into this air.

Im anoyed that project are doing these shady tricks to increase the value of their tokens for selfish reasons and discarding the average user who supported them from day 1, and just not giving a dam wether this is morally right or wrong.

I thought it was important to let a wider audience know about these shady dealing going on right now, and if you contributed to their Crowdloan, you must go claim you rewards soon, or they will be gone. Ive tried asking them how many users and tokens this actually effects, but they are adimant in not disclosing this information as I suspect it is a large amount of users and tokens. https://np.reddit.com/r/dot/comments/1alozu6/centrifuge_are_stealing_our_crowdloan_rewards/

Thanks for reading, please let me know what you think