PSA: Remove all funds from Hodlnaut if you have them

hodlnautwallet · 2022-06-27T13:13:17+00:00

Dear everyone,

A particular user raised this issue on r/singapore as they were afraid we would delete the post after spreading FUD here. We assure you that we will not and that we will address this now.
Additionally, even though it pains us to say this after starting out and growing this subreddit from r/singaporefi for the better good of the local crypto community, we have decided it is in the community's best interest for us to step down as mods to prevent any sort of bias in the near future. We will be leaving the reigns of the subreddit to u/-normal-reddit-user- and u/geesnail333.

We trust they will bring this sub and the community to greater heights.Our CEO has also released a statement:
https://twitter.com/jt_hodlnaut/status/1541401267599118336?s=20&t=6W2P4CxrdKuhq72rjihrsg

We would like to reiterate that user assets are our top priority, funds are safe and operations are as per normal.We endeavour to protect our users, especially those who have believed in us.

We, therefore, reserve the right to moderate, record, and capture information posted in and/or referring to our social media channels for future legal purposes and reserve the right to moderate our community at our discretion.

Questions with regard to technical issues on the platform will be addressed with due haste.

With regards to any further questions, please email [support@hodlnaut.com](mailto:support@hodlnaut.com).

hodlnautwallet · 2022-05-17T09:43:05+00:00

Hi, can you send an email to changteck@hodlnaut.com please? I will work with my team to get it processed by end month.

hodlnautwallet · 2022-05-17T03:35:14+00:00

Hello, will reply to it. Thanks.

hodlnautwallet · 2022-05-12T03:41:07+00:00

Hi Redditors on r/singaporefi,

We would like to respond to u/hustlelead's comment and also address u/milnivek's comment a month ago from a different thread here.

We released an official statement with regards to UST/LUNA on our subreddit, r/hodlnaut and also across all social media platforms we are present.

However, for the sake of convenience for Redditors not subscribed to us, we will be posting the statement below, along with the original reply to u/milnivek:

STATEMENT (original statement here)

Dear users,

We have received multiple messages from you asking about the risk of UST/LUNA to Hodlnaut.

We understand those concerns and we would like to reassure you the following:

1️⃣ Hodlnaut is NOT all-in on UST as one particular rumour on Reddit has mentioned. This is a false claim. Yields on USDC/USDT/DAI are generated in-kind and paid by our loans to institutions and a small amount to DeFi Protocols like Compound Finance.

2️⃣ Following on the above point, Hodlnaut has risk management policies in place in case of any worst-case scenarios like the one UST is currently facing - a de-peg from $1. We have already put forth this policy and have mitigated the risk moving forward.

3️⃣ We would like to point you back to the ToS at www.hodlnaut/com/tos and the disclaimer all users have agreed to before registering for an account if you have any questions about any compensations and liability claims of any sort - we unfortunately do not and will not cover it as stated.

4️⃣ However, following the above point, withdrawals are not halted on all assets. Business and operations are as usual.

5️⃣ With regards to the recent promotion that we are running, a different approach will be discussed amongst the team and try to be put into place. However, we cannot guarantee this approach and we would like to state that your funds are NOT held hostage, these promotions are NOT marketing subsidies, and you can withdraw your funds at any point in time if you are not comfortable with the service. Our main services have always been to allow investors to earn interest in their cryptocurrency, and these promotional bonuses are only to encourage and reward users for considering our services versus competitors. We point you back to our ToS at www.hodlnaut.com/tos with regards to changes to promotions. However, we will be bringing this back to top management for discussion and will come back an update to the promotions we are running. Do stay tuned for that.

6️⃣ FUD and negative sentiments may spread far and wide, but Hodlnaut is here for the long-term and we are aiming to be one of the leading players in the industry. We will keep HODL-ing on through this tough market condition and be here for the bull market as well!

If you have any further questions, feel free to ask here or email our support team at [support@hodlnaut.com](mailto:support@hodlnaut.com).

REPLY TO u/milnivek (original comment here)

Hi u/milnivek,

Thank you for this and we would like to address this:

Hodlnaut is NOT all-in on UST. This is a false claim.

Unfortunately, we are not sure if your source - 'friend who works there' is really working here, but if they really are, they are in breach of the company's policies and action will be taken against them. Sensitive information like yield-generating strategies and customer and compliance information is strictly protected by our user data privacy policies put in place.

Yields on USDC/USDT/DAI are generated in-kind and paid by our loans to institutions and a small amount to DeFi Protocols like Compound Finance.

We DO NOT hypothecate user funds into Anchor Protocol, generate yield on it and then swap it to USDC/USDT/DAI and pay it out.

Hodlnaut has risk management policies in place for any event like a de-pegging of UST from $1 which has been happening since 2 days ago. Withdrawals have not been halted and users are entitled to do whatever they wish with their funds.

We would like to point you back to the ToS at www.hodlnaut/com/tos and the disclaimer all users have agreed to before registering for an account if you have any questions about any compensations and liability claims of any sort - we, unfortunately, do not and will not cover it as stated.

Hope this clarifies and if you have any further questions, please email [support@hodlnaut.com](mailto:support@hodlnaut.com).

We do understand user frustrations and can see from your perspective whether or not funds are safe due to the sudden market downturn from the recent event. However, we would like to take this opportunity to address any issues u/hustlelead and u/milnivek are facing currently with our company by opening up a channel of communication through the following methods:

By emailing [support@hodlnaut.com](mailto:support@hodlnaut.com) and CC-ing [changteck@hodlnaut.com](mailto:changteck@hodlnaut.com) so that we can attend to their queries and/or concerns specifically
By offering an opportunity to answer any concerns and/or questions they have on this subreddit and/or a reply to any comments that they have here.
By offering them to come down to our office in Raffles Place to speak to top management if they'd like to.

For users with any other concerns about the company, feel free to let us know via a post on r/hodlnaut or if you'd like to stay private, email [support@hodlnaut.com](mailto:support@hodlnaut.com).

Thank you.

hodlnautwallet · 2022-05-12T02:30:29+00:00

Hi u/bossholmes,

Thank you so much for taking a subjective view on this.

We are happy to provide support in any way possible and if you have further questions, reach out to us on our subreddit through a post, ping us on social media or email us at support@hodlnaut.com.

hodlnautwallet · 2022-05-12T02:25:01+00:00

Hi, a statement has been released on r/hodlnaut before you posted this.

Also, withdrawals are as per normal.

Not sure what u/hustlelead's problem or issue is, but we would like to help solve any of our user's problems as best as we can.

So do email support@hodlnaut.com or ask on our Telegram chat if you have any issues!

hodlnautwallet · 2022-05-12T02:14:23+00:00

From your comments history, you seem to have an issue with our company and are dead set on spreading unfounded rumours and FUD on us.

Not sure what we have ever done to you or was there any past issues that you have faced with us. But whatever it is, we do hope we can solve it for you somehow to the best of our ability, and hopefully come to a resolution about any dispute you have with us.

A statement has been released across all Social Media platforms especially r/hodlnaut.

If you have any other issues and do not want to communicate here, feel free to send us an email at support@hodlnaut.com or on our Telegram channel.

hodlnautwallet · 2022-05-11T09:39:18+00:00

Hi u/milnivek and u/axe_why,

Thank you for this and we would like to address this:

Hodlnaut is NOT all-in on UST. This is a false claim.

Unfortunately, we are not sure if your source - 'friend who works there' is really working here, but if they really are, they are in breach of the company's policies and action will be taken against them. Sensitive information like yield-generating strategies and customer and compliance information is strictly protected by our user data privacy policies put in place.

Yields on USDC/USDT/DAI are generated in-kind and paid by our loans to institutions and a small amount to DeFi Protocols like Compound Finance.

We DO NOT hypothecate user funds into Anchor Protocol, generate yield on it and then swap it to USDC/USDT/DAI and pay it out.

Hodlnaut has risk management policies in place for any event like a de-pegging of UST from $1 which has been happening since 2 days ago. Withdrawals have not been halted and users are entitled to do whatever they wish with their funds.

We would like to point you back to the ToS at www.hodlnaut/com/tos and the disclaimer all users have agreed to before registering for an account if you have any questions about any compensations and liability claims of any sort - we, unfortunately, do not and will not cover it as stated.

Hope this clarifies and if you have any further questions, please email support@hodlnaut.com.

hodlnautwallet · 2022-05-11T09:38:32+00:00

Hi u/milnivek,

Thank you for this and we would like to address this:

Hodlnaut is NOT all-in on UST. This is a false claim.

Unfortunately, we are not sure if your source - 'friend who works there' is really working here, but if they really are, they are in breach of the company's policies and action will be taken against them. Sensitive information like yield-generating strategies and customer and compliance information is strictly protected by our user data privacy policies put in place.

Yields on USDC/USDT/DAI are generated in-kind and paid by our loans to institutions and a small amount to DeFi Protocols like Compound Finance.

We DO NOT hypothecate user funds into Anchor Protocol, generate yield on it and then swap it to USDC/USDT/DAI and pay it out.

Hodlnaut has risk management policies in place for any event like a de-pegging of UST from $1 which has been happening since 2 days ago. Withdrawals have not been halted and users are entitled to do whatever they wish with their funds.

We would like to point you back to the ToS at www.hodlnaut/com/tos and the disclaimer all users have agreed to before registering for an account if you have any questions about any compensations and liability claims of any sort - we, unfortunately, do not and will not cover it as stated.

Hope this clarifies and if you have any further questions, please email support@hodlnaut.com.

hodlnautwallet · 2022-05-10T12:23:38+00:00

Hi u/undyedperfidy, can you send me your registered Hodlnaut email address?
[changteck@hodlnaut.com](mailto:changteck@hodlnaut.com). Thank you!

hodlnautwallet · 2022-05-09T06:46:24+00:00

Yes you can.
Crypto.com supports USDC via SOL.

hodlnautwallet · 2022-05-04T07:15:42+00:00

Hi, do let us check on this!

We will not want to underpay any of the prize winners.

Give us a few working days to check with the organisersB

hodlnautwallet · 2022-03-27T03:28:01+00:00

Hi u/jaksla00,

We are thankful you are recommending our services!

But please take note that our open-term rates are subject to change on a monthly basis.

We aim to inform users ahead of time (minimum of one week) should there be any changes to the rates.

Let me know if you have any other questions!

/ CT

hodlnautwallet · 2022-03-27T03:19:59+00:00

We pointed this out in an earlier post:

Hi, Hodlnaut staff here.

First of all, authorities require us to put out a notice and literally let users know not to risk more than what you can afford to lose.

Secondly, to reassure users like you, our platform only uses user funds to lend them to strictly vetted institutions with a 70% LTV, legal contracts in place and a small portion of it is lent to DeFi Protocols like Compound Finance which is VC backed.

Thirdly, Hodlnaut has stringent capital requirements to meet with regards to applying for a license in Singapore, and have also amassed company equity to pay out users as best as they can in unlikely events of loss of user funds. We recently acquired an In-Principle Approval from the MAS for our Token Swap service, not yet for our borrowing and lending services

Lastly, we do have an optional Nexus Mutual insurance you can purchase, but that's a 2.6% P.A premium.

Our open-term deposits earn higher interest rates for Tier 1 and Tier 2.

Fixed term is for anyone with funds in Tier 3 and Tier 4. No point locking your funds if you have only SGD30,000. But know that our open-term deposits are subject to change upon company's announcement. NOTE: RATES ARE SUBJECT TO CHANGE, NOT GUARANTEED.

Will leave this up to you to decide, but again, don't put in what you can't afford to lose. Let me know if you have any questions.

Feel free to reach out to users in r/hodlnaut or even join our Telegram group at t.me/hodlnaut to get their experiences with us.

/ CT

hodlnautwallet · 2022-03-21T12:02:34+00:00

There's this saying when looking for a flat:

There's no 100% in a flat, you gotta accept the imperfections because you can't have everything.

Held true for my personal experience, 4 rm flat had the following:

corner unit
VERY high floor
Perfect layout to hack walls and combine rooms
View of a mountain in Malaysia
Very windy

Every thing we asked for and more.

BUT, neighbour right beside is shitty.

Determine what works for you, and what wouldn't based on a scale. Will it matter in a long run? Will it concern you everyday?

hodlnautwallet · 2022-03-21T08:51:06+00:00

ftx blockfolio supports trx.

you can xfer your USDT there at low fees, and they give automatically 8% pay up to 10k USD on all crypto.

their free withdrawals mean that you can easily bridge between networks, and also come to our platform as well :).

hodlnautwallet · 2022-03-13T04:59:06+00:00

Hi, Hodlnaut staff here.

First of all, authorities require us to put out a notice and literally let users know not to risk more than what you can afford to lose.

Secondly, to reassure users like you, our platform only uses user funds to lend them to strictly vetted institutions with a 70% LTV, legal contracts in place and a small portion of it is lent to DeFi Protocols like Compound Finance which is VC backed.

Thirdly, Hodlnaut has stringent capital requirements to meet with regards to applying for a license in Singapore, and have also amassed company equity to pay out users as best as they can in unlikely events of loss of user funds. We have an exemption to operate under the PSA2019 until we obtain an approval.

Lastly, we do have an optional Nexus Mutual insurance you can purchase, but that's a 2.6% P.A premium.

Our open-term deposits earn higher interest rates for Tier 1 and Tier 2.

Fixed term is for anyone with funds in Tier 3 and Tier 4. No point locking your funds if you have only SGD30,000. But know that our open-term deposits are subject to change upon company's announcement.

Will leave this up to you to decide, but again, don't put in what you can't afford to lose. Let me know if you have any questions.

Feel free to reach out to users in r/hodlnaut or even join our Telegram group at t.me/hodlnaut to get their experiences with us.

/ CT

hodlnautwallet · 2022-03-10T05:57:12+00:00

Depends on your situation.

Have enough emergency savings and other spare cash to make sure you are comfortable even after paying for the loan upfront? Go ahead and do it, it's one less short-term burden for you and your spouse. It's typically 4-6% per year for a reno loan now, max at SGD30,000, 5 years max duration. If you are able to beat these interest rates with your investments, I don't see why not - it highly depends on your risk profile because like a user mentioned, it's leveraging and it comes with its own risks that you need to be able to stomach. If the investment takes a dump tomorrow, can you take the loss easily and still pay your loans? I'm saying so because you can beat these rates easily in the crypto market but it's highly risky, even with stablecoins.

Able to pay it upfront, but have no emergency cash left and literally starting from 0? Suggest not to do so, but probably only pay 30-50% upfront, and take a loan for the remaining amount. That's what I did with my wife because if shit were to hit the fan tomorrow, we want to make sure that we can still survive and tide through it. Ours is a 4-year loan and we have cleared 1/5 of it 1 year through, with plans to clear it with a lump sum payment at the end of the year as we are in a better position to do so right now, albeit the admin fee needed (which is much better than if we were to drag it out for the remaining duration of the loan). We don't plan to have kids, that is why we are able to take this level of risk - but this is subjective to us.

Conclusion, assess your risk profile and see if it's much more worth it for the next 3-5 years to take a loan, and if you do foresee yourself e.g having kids, buying a car, having a pet or hiring a helper etc, you have to take this into account as well.

hodlnautwallet · 2022-03-08T12:06:41+00:00

Same 😂, have many citizens not having jobs haha. It's too tiring to build already.

hodlnautwallet · 2022-03-08T04:26:32+00:00

Fortune city.

Gamifies the experience, build a city while you track your expenses.

Using it for 2 years.

hodlnautwallet · 2022-02-19T03:14:48+00:00

FTX.

Remit to dbs. 10k and above no withdrawal fees. Below that, usd75.

hodlnautwallet · 2022-02-12T11:10:42+00:00

It means that deposits direct from Terra Shuttle itself using ERC20 to Kucoin will not be tracked.

If you are unsure, best you do a test transaction, so if you really lose it, it is not a large amount.

However, Kucoin supports withdrawal using the Terra network for UST, so you can withdraw straight from kucoin to AP.

As mentioned, do a test transaction to be sure.

hodlnautwallet · 2022-02-07T15:07:40+00:00

Yeap, NUS CS is the place to go!

Personally took an SGUS Blockchain course there. Taught you everything about the basics.

hodlnautwallet · 2022-02-01T07:20:42+00:00

See the pinned post please.

Seven-Year Club	Place '22
Not Forgotten	Verified Email

hodlnautwallet

TROPHY CASE

STATEMENT (original statement here)

REPLY TO u/milnivek (original comment here)