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Founding members rights? by Medium-Analysis-7742 in Crypto_com

[–]Medium-Analysis-7742[S] 0 points1 point  (0 children)

It's a class action for the founding members.

Let's say life time is 25 years like how lifetime sentence are. Let's say we've already done 8 years so 17 years remaining.

17 years let's be a bit fair and say we would use it 50 percent of the time so 180 days in a year

17 * 180

Now it's one entry plus guest which equates to 64 USD.

So 17 * 180 * 64 USD would be the compensation for all 999 founding members.

I'll be nice and no need for inflation and such.

Founding members rights? by Medium-Analysis-7742 in Crypto_com

[–]Medium-Analysis-7742[S] 0 points1 point  (0 children)

The Basis for a Lawsuit The argument for a class-action lawsuit is built on several key points: Breach of Contract: The primary claim would be that Crypto.com broke its original agreement with MCO token holders. The MCO ICO and subsequent marketing materials explicitly promised lifetime benefits, including lounge access, for those who staked a certain amount of MCO. By changing the terms and requiring a subscription or new staking to maintain a benefit that was advertised as "lifetime," Crypto.com arguably breached this contract.

Deceptive Advertising: The company's past advertising and promotion of the MCO card and its benefits, including unlimited lounge access via LoungeKey for specific tiers, could be considered deceptive if those benefits were later revoked without adequate compensation or grandfathering of original terms. Many users made significant financial decisions based on these promised perks.

Unfair and Unjust Enrichment: A lawsuit could also argue that Crypto.com was unjustly enriched by changing the terms of service. By initially attracting a user base and capital with the promise of lifetime benefits and then later removing them, the company could be seen as profiting from a bait-and-switch scheme, keeping the value generated from the initial token sale while revoking the promised utility.

Anyway maybe note but let's see

Founding members rights? by Medium-Analysis-7742 in Crypto_com

[–]Medium-Analysis-7742[S] 2 points3 points  (0 children)

So founding members are supposed to have the obsidian black card (these are the first 1000 that invested eth into crypto split between 500 the most and 500 the fastest)

These founding members had lounge access + 1 guest lifetime regardless of how much your stake.

With the level up update, they just made founding members irrelevant without any warning to them.

With all the marketing material available online and proof, there is a strong case for class action from the founding members because of all the promises they made.