I appreciate those who took the time to answer my questions and clarify things.
Obviously, I was hoping that our trust in Enigma was not misplaced and that the ENG token integrity was still intact, however from the responses it is becoming clear that is not the case - and this is pretty devastating.
While I understand that the Secret Network is a community, it is clear now that this project is essentially Enigma rebranded with the same stakeholders, therefore all ENG stakeholders should have been treated honestly and fairly and be given the rightful opportunity to swap their tokens. Especially because the team would’ve known that the ENG token would have no other future utility or value.
Therefore, any people who still hold ENG tokens have clearly been robbed and betrayed. I don’t really want to sound too dramatic here, but I just don’t think there is any other way to see it.
What I really can’t understand is why the swap even needed to be closed.
moonstash has indicated that it is technically possible to open it, which is great and I think would also imply that it was not actually necessary to close it.
moonstash has also indicated that it would be contentious to open it again. But in my opinion, it should have been contentious to close it - due to the many ENG holders that would be impacted.
EOS provides a way to swap tokens even after the initial close so I am sure the Secret Network can find a similar fair and honest solution.
If the swap can be reopened then great, but perhaps another way is allocating the future inflation SCRT tokens for this purpose.
I would therefore encourage and urge the Enigma founders, which are now involved in Secret, as well as the community overall to do the right and fair thing and allow ENG token holders to convert their tokens.
I am sure there are plenty of others like me, who placed their enthusiasm and trust and who believed in this project right from the start and who are now being side-lined and will suffer huge and unfair losses otherwise.
I understand that opening the swap again may not be a popular solution for those who have already had a chance to swap (I have read some of your other replies moonstash and can see that you are also unfortunately against reopening the swap and worried the price of SCRT will be affected), but surely it is the just and honest thing to do. I hope you can understand that it is devastating to be left in the lurch like this and there are likely many others like me. Perhaps you can try to put yourself in our position.
To be honest, the fact that the Secret Network chose to have a vote to close the swap feels very unnecessary, dishonest and self-serving by those who knew the implications.
And people like myself had no idea that the vote was even being held, so how can we vote otherwise?
I can only guess that the idea behind closing the swap was that it would reduce the SCRT supply by taking it from other token holders, thus increasing the value, right?
But allowing remaining ENG token holders and hodlers to participate is the only fair and honest path forward.
Please also appreciate that we are in a global pandemic here - people have had plenty of other things to worry about and personally, having my ENG tokens turned worthless is the last thing I thought would happen.
Hence, I would appreciate it if the community can propose a solution for this - one that gives all ENG token holders a fair chance to continue to be part of this project.
Voting for inclusion will result in a much better and stronger community, one based on trust and fairness.
If a vote is needed to reopen the swap, then such a vote should be open to voting for many months, since it will likely take time for other ENG token holders to realise their current predicament and be able to join in for a fair and balanced vote.
However now that the ENG price has crashed, they are likely to become aware of this sooner than later.
Apologies that this got so long, but my hope is that the Secret Network abides by Governance and especially by fairness, because what is happening here is exactly the type of thing that gives cryptocurrencies (which are amazing) a bad reputation.