What's the status of Ardana and Orbis now?

Still pretty sour about the overpromises that Ryan Matovu gave, finally bringing in cardano stablecoins (but as it turns out, execution was what lacked)

As pointed out by 0xsurferboy on Twitter: https://twitter.com/0xsurferboy/status/1607621645203824642, it seems like Ryan just disappeared. Surferboy’s perspective is that it was a strategic error, but I’ll point out that while he didn’t rug consumers, it sure seems like he rugged investors without a single explanation.

Hoping to get some input and thoughts on the situation. Cheers

Hard to tell. Also haven’t heard anything, since it all came down. Nothing about the proposed rescue attempts, nothing about finishing the ISPO (although it also doesn’t make much sense with DANA being quite worthless).

In the spaces shortly after the disaster, Ryan made the impression that he wanted to walk out of it with his head held at least medium high, reimbursing the Orbis NFTs etc.

So, I tended to think it was just very, very poorly executed and not fraudulent from the beginning.

On the other hand, burning 10 million for such meager results could be a bit suspicious. Maybe Ryan was pulled over the barrel by the devs he hired. Maybe he really didn’t pay himself anything like he said. Maybe he did.

In the end, it doesn’t really matter. It’s dead.

Maybe we want to look a little closer with the next project and not believe stupid “All is fine! We are doing tremendous work!” videos and AMAs next time. Maybe we want properly regulated investments and not basically disenfranchised “utility” tokens next time.

They are in Bahamas… celebrating :))


I’m with @Alexd1985 on this one.

I have no concrete evidence, but the way I see it, it started like this :point_down:

Then they figure they will try to get funding. The investors and them were like this :point_down:

Then they got the funding and realized that knowing JS and a little bit of Rust didn’t make them into a Haskell dev team. That meeting was probably like this :point_down:

Then a year passed by and they finally found out what they actually need to learn to be able to do this. Probably went something like this:

Then they said bunch of stuff they thought they had to say so they won’t get sued or arrested. And now (as Alex suggested) they most likely are :point_down: