@RealShawnte @KensCGCC @everwisefool @_CedarSteve @CedarDAO @SamCKx But why just don’t open a vote ? Is the o ly thing we want …
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Stijn Verdonck
2.5K posts
Stijn Verdonck
@StijnVerdonck
Nurse, NFT creator, powertraining, fitness, traveler and gamer.
Gent, België Katılım Temmuz 2020
101 Takip Edilen262 Takipçiler
@KensCGCC @everwisefool @_CedarSteve @CedarDAO @SamCKx I hope someday you do end up on the committee so you can see everything and talk to the attorneys or become complicit and put yourself right in the hotseat with some others.
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Are there any lawyers who are loyal Cedar holders? Can we get a class action lawsuit going against @RealShawnte for holding this project back from voting on committee members and stealing non authorised pay. @_CedarSteve @CedarDAO @SamCKx
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Stijn Verdonck retweetledi
Someone sent me this.
Beautiful memories of our greatness, not too long ago.
I miss those days.
@_CedarSteve @AtlasWallet
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Stijn Verdonck retweetledi
Just want to take a moment and appreciate our fellow community member @_CedarSteve
Even now, this man is still fighting for this project. I have to respect that.
I already respected him immensely before, but now I see just how much he cares. Thank you Steve.
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Stijn Verdonck retweetledi
Atlas Wallet: Development Update, End Q1 2026
We previously took Atlas out of external closed beta for a full infrastructure overhaul.
This isn't simply a rebuild. It’s a complete refinement of the product, alongside addressing further legal and compliance work required for launch.
Internally, management and our developers have been developing and testing 3-5 new builds per week over the last few months.
Here’s where everything stands:
Legal & External Dependencies -
These are the elements that ultimately control launch timing.
Website -
The website is being rebuilt to reflect the final product, features, and UX.
This cannot be completed until the build is fully locked, so it will be finalised close to launch.
Status: In progress
UK compliance (Section 21) -
We’ve completed a large portion of the groundwork, including a UK-specific version of the website.
What remains:
• Final in-app disclosures (must reflect final build)
• Geo-specific handling for UK users
• Formal sign-off from a regulated UK approver
Status: Partially complete, pending final build
On / Off-Ramp Partners -
We are integrated with 5 providers.
• 3 fully complete
• 2 pending compliance alignment (linked to final legal structure inc. UK Section 21)
These remaining items cannot be finalised until just before launch.
Status: 3/5 complete
Atlas Banking (Fiat Features + BillPay)
We have the opportunity to reintroduce banking features, including:
• Instant transfers to bank accounts
• Payments to friends/family
• BillPay functionality
• Crypto → fiat usability
These were highly valued by users.
However:
• The ongoing cost structure is significant
• Terms are still under negotiation
We will only enable this when it makes financial sense and aligns with launch timing.
Status: Under negotiation
Core Product (Wallet & App) --
Wallet Import -
We’ve rebuilt wallet import to allow a single seed phrase to restore all associated wallets, regardless of whether they were created on platforms like MetaMask, Trust Wallet or Phantom.
This solves one of the biggest UX problems in DeFi.
Status: Built and in testing
Token List & Filtering -
Once a wallet is imported, we’ve dramatically optimised token population.
This improves the user experience, but just as importantly, it fixes a major inefficiency in our previous infrastructure, which was both costly and resource-heavy.
It also now includes advanced filtering to remove spam, dust, and malicious tokens, resulting in a cleaner and more reliable portfolio view.
Status: Mostly complete, final optimisation ongoing
Notifications (App-Wide) -
We are moving from wallet-specific notifications to a unified system across the app.
This ensures users don’t miss activity, even with multiple wallets.
Status: Near completion
Markets section (New Feature Layer) -
We’ve built a completely new Markets section within Atlas.
This introduces features and information not previously available in the app, significantly enhancing visibility, usability, and overall user experience.
Status: Advanced development
Watch-Only Wallets -
Rebuilt and simplified.
Cleaner UX, better performance, easier tracking.
Status: In testing
Swaps -
Optimised routing to ensure:
• Faster execution
• Better pricing
• More efficient paths
Status: Built and in testing
Send & Receive -
Core functionality has been fully optimised and tested.
Status: Complete
Language & Currency Support -
• Multi-language support
• Multi-currency display
• API integrations complete
Status: Complete
NFTs -
Following previous beta feedback we have substantially overhauled the entire NFT interface.
This provides better coverage across all chains and significantly improved speed and reliability.
Status: Advanced development
Post-Beta Work -
Help Centre & Support
We will rebuild the help centre after reopening beta so it reflects:
• Final UI
• Real user behaviour
• Beta feedback
Status: Deferred to beta phase
Our efforts continue at pace to move Atlas back into our external closed beta, where we will be able to better assess readiness to full launch.
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Stijn Verdonck retweetledi
Yeah do it. 🙏
Ill buy back in if you take over Cedar!
Sam@SamCKx
To address @_CedarSteve and the Cedar DAO community, Firstly, Steve, thank you and everyone else who has continued to show faith in me over the years, despite everything. I believe most people recognise that I’ve always been here for this community, and that my work on Atlas is driven by one thing: delivering what this community deserves after its long-term support and patience. Even after stepping away from the token project, I never stopped working for this community. For over six months behind the scenes, I’ve made repeated attempts to resolve what are, in my view, totally illogical, unnecessary and self-inflicted issues created by the interim committee, largely driven by a single individual. I believe this has already caused tens of millions of dollars in damage. As former CEO of EverGrow Marketing Ltd and current CEO of Wallet Enterprises Ltd, I have repeatedly reached out to the two law firms retained by Cedar DAO to try to resolve matters. It makes no sense that lawyers claiming to represent this community would refuse to engage with the CEO of the company that ran operations and had the authority to grant the committee its limited mandate. When genuine attempts to resolve issues are ignored, it raises serious questions. To me, that is negligent and clearly not in the interests of token holders. That said, my focus has never changed. Everything I’ve done, including months of work behind the scenes, has been about what is best for this community. Many of you know that, and I appreciate those who have recognised it. I have been reluctant to step forward. But given where we are, if the community supports it, I am willing to take on a temporary role as chairman of the interim committee. My objective would be simple: fully audit the situation, understand where resources have gone over the last ten months, review all costs and obligations, and help transition to a properly elected committee focused on token holders, not personal agendas. I still believe this project can succeed. That’s why I’ve never walked away. Given the collapse in governance and the damage done, Steve’s proposal may now be the most practical path forward. If the community supports it, I will step in on a strictly temporary basis. This would be an unpaid role, limited to the minimum time required to stabilise the situation and reset governance properly. I would not remain in this role once Atlas Wallet goes live. The decision now sits with the community. But let me be clear: I have never left, and my commitment has never wavered. It is incredibly difficult to watch a project that had over $40 million in value when I handed it over ten months ago be driven to this point by actions that run directly against the interests of token holders. But recovery is still possible, if we act now. If Steve’s proposal is supported, I will do everything I can to fix this and put us back in a position to succeed ahead of the Atlas launch. We Are Cedar.
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To address @_CedarSteve and the Cedar DAO community,
Firstly, Steve, thank you and everyone else who has continued to show faith in me over the years, despite everything. I believe most people recognise that I’ve always been here for this community, and that my work on Atlas is driven by one thing: delivering what this community deserves after its long-term support and patience.
Even after stepping away from the token project, I never stopped working for this community. For over six months behind the scenes, I’ve made repeated attempts to resolve what are, in my view, totally illogical, unnecessary and self-inflicted issues created by the interim committee, largely driven by a single individual. I believe this has already caused tens of millions of dollars in damage.
As former CEO of EverGrow Marketing Ltd and current CEO of Wallet Enterprises Ltd, I have repeatedly reached out to the two law firms retained by Cedar DAO to try to resolve matters. It makes no sense that lawyers claiming to represent this community would refuse to engage with the CEO of the company that ran operations and had the authority to grant the committee its limited mandate. When genuine attempts to resolve issues are ignored, it raises serious questions. To me, that is negligent and clearly not in the interests of token holders.
That said, my focus has never changed. Everything I’ve done, including months of work behind the scenes, has been about what is best for this community. Many of you know that, and I appreciate those who have recognised it.
I have been reluctant to step forward. But given where we are, if the community supports it, I am willing to take on a temporary role as chairman of the interim committee. My objective would be simple: fully audit the situation, understand where resources have gone over the last ten months, review all costs and obligations, and help transition to a properly elected committee focused on token holders, not personal agendas.
I still believe this project can succeed. That’s why I’ve never walked away.
Given the collapse in governance and the damage done, Steve’s proposal may now be the most practical path forward. If the community supports it, I will step in on a strictly temporary basis. This would be an unpaid role, limited to the minimum time required to stabilise the situation and reset governance properly. I would not remain in this role once Atlas Wallet goes live.
The decision now sits with the community. But let me be clear: I have never left, and my commitment has never wavered.
It is incredibly difficult to watch a project that had over $40 million in value when I handed it over ten months ago be driven to this point by actions that run directly against the interests of token holders. But recovery is still possible, if we act now.
If Steve’s proposal is supported, I will do everything I can to fix this and put us back in a position to succeed ahead of the Atlas launch.
We Are Cedar.
CedarSteve@_CedarSteve
Cedar Community The @cedardao is so far off track and there is no signs that will change anytime soon. We desperately need help to get the CedarDAO fully functional without delay.
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Stijn Verdonck retweetledi
Cedar Community
The @cedardao is so far off track and there is no signs that will change anytime soon.
We desperately need help to get the CedarDAO fully functional without delay.
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Stijn Verdonck retweetledi
To all Cedar holders,
I know the situation may feel quite serious right now. But the reality is that everything in life is fixable. What matters is how we respond as a community, and whether we choose to rebuild a supportive and constructive environment in time for the launch of Atlas.
Because Atlas changes everything for this project.
The path forward is actually quite straightforward.
Over the past few days the community has spoken very clearly about its concerns regarding how the project is currently being run by a single individual. In my view, that individual has been in clear breach of the mandate originally given by the former management committee to progress the project toward becoming a functioning DAO.
For that reason, the right thing to do would be to step down before the situation escalates further.
Once that happens, the immediate priority should be stabilisation.
Right now our social platforms have effectively been taken over by people who actively seek to damage both Cedar and Atlas. Moderation has collapsed. Genuine supporters have been driven away, and the environment has become dominated by hostility, misinformation, and deliberate attempts to undermine the project.
As a community, we are quite literally paying to maintain platforms that are currently causing material damage to our own project and token value. That situation cannot continue.
Those platforms need to be paused, cleaned up, and returned to their original purpose.
Our community owns those platforms and funds them. They exist to support genuine token holders and the success of the project. They do not exist as an open stage for people who are openly hostile to Cedar and Atlas to dominate the conversation and drive supporters away.
Restoring order, proper moderation, and a constructive environment within our community spaces must be one of the first steps in putting Cedar back on a stable path.
Once those initial steps are taken and the current torrent of FUD has been stemmed and removed from our community spaces, we can then turn our attention to the future of the project.
When I first raised the idea of moving Cedar toward true community ownership and governance, the vision was an idealistic one. In practice, that version of the model has clearly not worked. That reality should not discourage us, but it should encourage us to simplify and refocus.
Going forward, the committee should represent one thing above all else: the interests of the community and the success of our core product, Atlas Wallet.
The role of the community should be simple: to support the success of Atlas. Atlas is the product that ultimately gives Cedar its value, and the strength of the community should be directed toward helping that product succeed.
The short-term price of the Cedar token is largely irrelevant. The long-term value of Cedar rests on the success of Atlas, and our focus should remain firmly on that objective.
For that reason, the mandate of the committee and the DAO should be simplified.
The committee should exist to represent and organise the community in ways that support Atlas, without unnecessary complexity, without attempting to manufacture new utilities, and without spending money that does not directly benefit the project.
Governance should remain simple and practical.
Voting should be limited to essential matters such as:
• electing or replacing committee members
• deciding how dividends are distributed if and when they are received
• approving community initiatives that genuinely support the ecosystem
Beyond that, there is no need for complicated governance structures or constant voting cycles. The goal should be a focused, stable community that supports Atlas and allows the project to grow.
For now, the priority must be clarity and alignment.
One community.
One purpose.
One product.
Our task is to create the most positive and supportive environment possible for the launch of Atlas. If we do that, the vision many of us shared when this project began can finally start to become reality.
Everything is still ahead of us.
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Stijn Verdonck retweetledi
@SamCKx Thanks for the update! Hope we will get this beta soon in our hands again
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Stijn Verdonck retweetledi
Atlas Wallet Financial Update
Hi all,
I thought it would be helpful to share a clear update on the financial position at Wallet Enterprises Ltd, the company behind Atlas Wallet.
There has been a significant amount of commentary circulating recently. Some of it is plainly inaccurate, some of it is deliberately misleading, and some of it understandably creates concern for holders who simply want clarity. This post is intended to deal purely with facts and numbers.
Background
In March 2025, while the project was operating under the Management Committee on behalf of EverGrow Marketing Ltd (the entity to which operational control of marketing and development had been legally and contractually transferred as per the official announcement in September 2022), a proposal was put forward to fund Atlas Wallet independently with $1.2 million.
The objective was straightforward: to separate Atlas operationally and financially from the token project so that development could proceed with stability and clarity.
Although the project was not operating under a formal legal DAO framework at that time, and still is not today due to the absence of a legal DAO structure or binding voting mechanism, the Management Committee stated we would poll the community on major decisions to ensure majority support.
The proposal to allocate $1.2 million to fund Atlas Wallet independently was supported by 97% of participating token holders.
Those funds were internally reassigned and ringfenced for Atlas Wallet. This update relates specifically to that allocation.
Where the funds are held
Wallet Enterprises Ltd operates a corporate Binance account for payroll and operational payments. However, the majority of funds have been retained in the original decentralised wallet that was reassigned last year from EverGrow Marketing Ltd to Wallet Enterprises Ltd. From a security perspective, I consider this the safest way to custody a significant treasury balance and it’s how I’ve operated since September 2022, when the founder transferred project assets to EverGrow Marketing Ltd.
Operationally, when the Binance balance runs low due to payroll or expenses, we top it up from the decentralised wallet. Those transfers are visible on-chain for anyone monitoring the wallet.
Current position
From the original $1.2 million allocation:
• $138,000 remains in the Binance corporate account (following yesterday’s payroll).
• Approximately $650,000 remains in the decentralised wallet assigned to Wallet Enterprises Limited.
Total remaining: approximately $788,000.
Burn rate
Our current monthly cash burn is just under $30,000.
This has been reduced significantly over the last few months. Earlier in the process, costs were materially higher due to:
• Clearing legacy expenses
• Annual pre-payments on some tech integrations
• A larger development team
• Higher cost legacy infrastructure and partnership commitments
Those costs have since been streamlined. Going forward, I expect us to maintain a burn rate below $30,000 per month.
There may be occasional months where expenses temporarily increase due to annual up-front costs being due, partnerships or infrastructure upgrades. However, we are consistently focused on reducing recurring overhead while preserving core development capability.
Runway and funding outlook
At the current burn rate, the remaining $788,000 provides substantial runway.
This gives us the financial capacity to:
• Complete the infrastructure upgrade
• Relaunch beta
• Full public launch on iOS, Android and Chrome
• Fund initial marketing and user acquisition
• Demonstrate product-market fit
At that stage, the intention would be to raise external capital from a position of strength.
We could raise earlier, including during beta, but at present I do not consider that necessary. The goal is to raise at the most advantageous point for long-term shareholder value. Ideally I would like to raise when we still have 12 months of runway - that’s an ambition, not a guarantee - I know too well how forward looking statements can come and bite me in the ass around here!
Operational update
As you know, we made the difficult decision to take the beta version offline and conduct a significant infrastructural upgrade. That decision added months to the timeline. We are nearing the end of that process now.
However, contingency was built into the runway specifically to account for unexpected development shifts. As a result, that work has not created financial stress or funding risk.
Closing
The key takeaway is simple:
Atlas Wallet remains well-funded relative to its current operating costs.
The treasury allocated in March 2025 has been managed conservatively, burn has been materially reduced, and there is significant runway remaining to complete development and move into launch and growth.
I appreciate that there is noise. The numbers, however, are straightforward.
I will continue to provide updates as we progress.
Sam
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Stijn Verdonck retweetledi
🫡Our trademark application has officially been published.
🌟The foundation is set.
▶️More soon
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Stijn Verdonck retweetledi
Merry Xmas to everyone that celebrates 🎄
With the recent announcement that the foundation has officially been registered, I want to share that I have stepped down from my position on the @CedarDAO interim committee.
This was a personal decision, driven by several changes in my own life that have impacted the amount of time I’m able to dedicate to day-to-day responsibilities. With the DAO now closer than ever to full completion/formation and new committee members joining soon, I feel this is the right and responsible time to announce my departure.
I’m genuinely excited to see the DAO finalized and to welcome the new faces who will help guide it forward.
I’ll also be stepping away from my Discord position at the end of next week. Again, this is entirely a personal decision.
This community has been a huge part of my life for over four years, and I’ll always cherish the memories, relationships, and shared experiences we’ve built together. From the sidelines, I’ll forever be rooting for the success of this project.
That said, with beta testing for @AtlasWallet reopening sooner than later, I’ll continue to assist with its development and progress in any way I can.
Thank you all for the wonderful journey 🫶
Cedar@CedarDAO
In four years together we’ve seen a lot of change. Our 2021 EverGrow launch on BSC with the OG Founders that shortly after the launch handed the reigns over to a Committee lead by a Chairman, an exploit that resulted in the birth of the DAO that then voted to rebrand and migrate to Solana. Another vote to further support and finance our flagship utility @AtlasWallet, the Cedar launch, and most recently a newly elected Committee was seated and lead as a General Partnership. Today we are happy to announce that as of the 16th day of December 2025, we are independent and individually ownerless! That’s right, we are truly a Decentralized Autonomous Organization and represented and incorporated in the eyes of the Cayman Islands by The CedarDAO Foundation! We’ve attached the Certificate of Incorporation for you to see for yourself! drive.google.com/file/d/1XT_L0V… This milestone reflects the Community's resilience and commitment to a brighter future together! We are Cedar Strong! Our legal team will next focus on applying for a BVI subsidiary for the Cedar Rewards Claimpad and any other assets that has the ability to generate profits like utilities and partnerships! We the Committee will now direct our attention to on onboarding the new Director, structuring our governance mechanism for proposals brought forth by the DAO for which we can vote on, and Committee organizational documents, policies, and procedures in preparation for the next Committee! Stay tuned for more updates! - CedarDAO Committee
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Stijn Verdonck retweetledi
Guys, I know we’re overdue an official @AtlasWallet update, so I wanted to reassure you that a huge amount of work has been happening behind the scenes while beta has been offline.
I’m very conscious that it’s not enough to simply get Atlas live. It also needs to be competitive, modern, and future-proof while we carry out this broader infrastructure overhaul.
I can’t yet give a firm date for when beta testers will receive a new build, but when you do, it will be a dramatic improvement: modernised, optimised, and featuring additional functionality and clear USPs.
I also want to reassure everyone that, just as I did during my time with EGC, I’ve been extremely responsible with finances throughout this period. I personally downgraded third-party services, reduced salaries and development agreements, saving tens of thousands of dollars from our usual operating costs.
That’s allowed us to make meaningful progress while keeping our burn rate modest. We’re well past the point where I can plausibly thank you for your patience, and I recognise that. But I want you to know that the team’s energy and commitment have never waned, and neither has our confidence in delivering a product that can genuinely compete with the leaders in this space.
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Stijn Verdonck retweetledi
We are happy to announce that the regulatory compliance phase has concluded and we can now proceed with incorporation for the DAO! This phase has been tedious and complex yet thorough and we are thrilled to see it in the rearview mirror!
While the foundation will be a Cayman Island entity, we have been advised to also form a British Virgin Islands subsidiary. These two entities will allow us to have a neat understood structure and system whereby our Cayman entity will wrap the distribution of already minted Cedar tokens via the Cedar Claimpad and then the BVI subsidiary will wrap the Cedar Rewards Claimpad as well as any fee-generating assets. Harneys will produce a memo regarding the regulatory compliance in due course, however, for now they will proceed forward on processing and expediting the Cayman foundation application.
Stay tuned to our socials for additional information and updates as they become available!
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Stijn Verdonck retweetledi
Brief Legal Update 11.19.25: Had a 30 minute call with Harneys yesterday. All went well, no additional questions just a recap of the responses from their 4 page inquiry that the CTO and I put together last week. We will now await their regulatory compliance memorandum and will inquire once received regarding publishing it to the DAO which I expect this to be fine since they are aware that we are a DAO. Once the regulatory memo is provided to us we can get going on the foundation application which will of course be expedited.
We also discussed how things are going with Atlas Wallet/Wallet Enterprises. Whenever the time comes to receive shares we will have them oversee the shareholder agreement since they have BVI attorneys versed in corporate law and since Wallet Enterprises is a BVI entity.
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Stijn Verdonck retweetledi
Atlas Wallet Interim Update
Following our last update on October 3rd, we’ve continued deep work on the core infrastructure behind both the Atlas Wallet app and the Atlas Wallet browser extension.
We’ve made significant progress improving key elements of Atlas’s underlying architecture. These improvements are designed to make the entire system faster, more stable, and far more efficient, laying the groundwork for long-term scalability and reliability across our ecosystem. While we appreciate that this stage may feel slow for those eager to get hands-on with Atlas Wallet, the improvements being made now will result in a significantly stronger, more seamless product.
This process will also allow us to introduce new capabilities that we believe should be standard in every wallet, yet aren’t implemented successfully elsewhere.
Our next milestone is to begin integrating this enhanced architecture into our existing builds, and once that’s underway, we look forward to welcoming our beta testers back.
As part of this development focus, we’ve temporarily reduced our communications and regular educational and community focussed content. We fully intend to resume such initiatives when the timing is right, but for now our priority is to complete these essential technical upgrades to the Atlas ecosystem.
We’ll continue sharing progress updates as each stage unfolds, and we deeply appreciate everyone’s patience and ongoing support as we take these next steps.
In other news, we’ve also completed a major phase of our corporate and governance restructuring. Over recent months, we’ve been updating our company’s constitutional documents - essentially the legal framework that defines how Wallet Enterprises Ltd, the company behind Atlas Wallet, operates and how future shareholders can formally hold a stake in the company.
After a lengthy process, we’re pleased to confirm that the required paperwork has now been submitted. This means we’ve taken all the steps necessary for the next stage of our journey, ensuring that Wallet Enterprises Ltd is positioned for effective ongoing governance and ready to move forward when third parties are in a position to receive shares.
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