We, the undersigned, demand transparency, accountability, and justice for the repeated failures and broken promises made by Bidao (now rebranded as Bi2DAO). Over the years, Bidao has demonstrated a clear pattern of deception, mismanagement, and negligence, leading us to conclude that this project might be a scam.
Here is a timeline of false promises and failures that outline the fraudulent behavior of the Bidao team:
2020:
ICO launch with promises that the product was "almost ready" and would launch within 3 months.
Investors trusted these claims and supported the project with their hard-earned money.
2021:
Promise of a Polygon integration and the launch of "yobid2021."
Reports emerged of people supposedly using the app, website, and browser plugin, but no substantial evidence of functionality was ever provided.
2022:
Silence for months with no updates, followed by empty reassurances: "It’s almost finished."
Launch of Bidaoapp.com with no explanation for abandoning the previous app.
2023:
Another promise of a mainnet launch by the end of the year.
Bidao introduced yet another app, raising questions about what was wrong with the previous ones.
Bidao app goes live in the App Store and is claimed to be "ready," but investors saw no tangible utility or benefit.
Chaotic rebranding: Bidao becomes "Bi2DAO Official," only to revert back to "Bidao" again.
2024:
Videoconference announcing new promises to launch BISC in April and list on MEXC.
New excuses introduced: "We will launch when altcoins are moving up" and "When BTC hits $100k, we’ll hold a live conference."
Investors are left waiting indefinitely as the team continues to delay without delivering results. We changed also from a defi project to a AI project btw
The Core Issues: Why people think Bidao Is a Scam
Repeated Lies and Empty Promises
From 2020 to 2024, Bidao has made false claims every year, promising launches, integrations, and products that never materialized. Each year, the team provides new excuses and pushes deadlines further, showing no accountability for past failures.
Mismanagement of Investor Funds
Despite raising significant funds during the ICO, Bidao has failed to provide any transparent breakdown of how these funds were used. The lack of development progress raises serious concerns about the misuse of investor money.
Chaotic Development and Rebranding
The constant introduction of new apps and rebranding efforts (Bi2DAO Official, back to Bidao) suggest a lack of clear vision and strategic planning. These moves have only confused and frustrated the community.No Exchange Listings or Partnerships
Despite claims of working with seven exchanges since 2020, Bidao tokens remain illiquid, with no major listings or credible partnerships. Investors are left holding tokens with no value or market access.
Delays Under the Guise of "Market Conditions"
Bidao’s latest excuse for not launching is to wait for "perfect market conditions" or "BTC to hit $100k." This is an insult to the community’s intelligence and clearly a tactic to further delay the inevitable failure.
Conclusion
Bidao has demonstrated a blatant disregard for its investors. Every year since 2020, the team—led by Mike—has made false promises, only to deliver nothing. They continue to move the goalposts, deflect accountability, and exploit the trust of their community.
We, the investors, have had enough. We demand:
A full and transparent financial audit of funds raised during the ICO and their allocation.
A clear timeline for delivering promised products and exchange listings.
Regular, honest updates from the team.
If Bidao continues its pattern of deception, we will escalate this matter to regulatory authorities and explore all available legal channels to hold the team accountable.
This petition is a call to action for all those who have been deceived by Bidao. Let us stand together and demand justice for the lies, delays, and mismanagement that have defined this project. Sign now to show Bidao that we will no longer tolerate their excuses and empty promises.