Oyster Pearl Project Forks Into Opacity After Issues with its Funds

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The Oyster Protocol, a smart contract platform that combines IOTA and Ethereum features announced that it has forked into Opacity. The decision has been taken days after the platform experienced a pump and dump scheme started by Oyster’s founder. William Cordes, the CEO of the platform, announced the hard fork in a blog post on November 6.

William Cordes Introduces Opacity

In a blog post released a few days ago, William Cordes decided to inform that the Oyster Pearl protocol has moved ahead and created the Opacity network. The main intention is to improve transparency and allow the project to keep in the market.

About it, Cordes wrote:

“For anyone active in our community, Opacity has quickly established itself as a tool to effortlessly share files uploaded through Oyster. After coming to an agreement, the projects will move forward together under that name. We believe Opacity is a great step as we close our Oyster chapter and continue our mission to bring anonymized and decentralized data storage to all.”

Opacity allows users to control who sees the data that each user hosts. At the same time, it keeps files handle private and only the owner of that file can access to it. The new Ticker for the token will be OPQ and there will be a supply of 130 million OPQ

The project has also informed that the management team will not be taking the salary. The rest of the team will receive reduced payment or no salary at all. Opacity has three individuals in charge of the management activities, four community managers, three engineers and other individuals in charge of research and development, and a product or marketing expert.

After the ard fork, the team informs that they will be building the platform. Although a situation forced the team to slow-down temporarily, Cordes wrote that they will be picking up from where they left off and start as soon as possible.

About trading activities, the CEO of Opacity informed that trading was paused at their request on PRL and SHL pairings. The team has also informed that they are talking with exchanges about how and when to resume trading activities.

Finally, due to legal reasons, they will not be combining PRL and SHL tokens for legal reasons.

According to some reports, Oyster Pearl founder Bruno Block created several tokens and sold them on the KuCoin platform. Block was the only member that was able to trigger a function that allowed him to create PRL tokens.

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Image provided by the oddysey online.