Press Release

FOR IMMEDIATE RELEASE: (27/05/18)

Over the course of the project members of the team and community have come to possess knowledge that misrepresentations were being made about the Sumokoin (a.k.a. RYOCurrency, a.k.a. RYO) project. A small group from the community wants to set the record straight, and announce a transition of leadership under the best possible conditions one could hope for.

To be direct and upfront on the misrepresentations :
2 of the “Founders” are phantoms (Bill Aue & Sumoshi Tanaka),
1 of the “Founders” is an innocent bystander whose identity and academic credentials were attached to the project without his knowledge (Haruto Tanno),
Prior to the addition of Fireice_uk, the developer skillsets were oversold and outsourcing of work was required by an unknown team.

In response to the discovery of these falsehoods :

Effective immediately; overtaking control of the Sumoprojects Github and all further Development of Ryo/Sumokoin will be transitioned to Fireice_uk and Psychocrypt, Sumogr, Patrik, and Vu Quang have gracefully agreed to step aside for future’s sake of RYO project, The new leadership is committed, and will propose very soon, measures to make the premine and the development more transparent and democratic for everyone.

In light of these facts, the current Sumokoin leadership has chosen to honorably stand down from the project they began. Moving forward , the new RYO team has sworn to uphold the best possible transparency whilst, upholding the move for Privacy without compromise. The new Ryo team is dedicated to make the development process more transparent and to uphold Ryo’s aim of user privacy without compromise.

Respectfully signed,

 Fireice_uk (Lead Developer)
 Psychocrypt (Lead Developer)
 Kesior (Reddit Moderator, Contributor)
 Mosu (Web Designer, GUI Wallet Dev)
 SoapyFresh (Press Releases, Contributor)
 Nostradamus411 (Contributor)
 Technohackr (Contributor)

@Fireice_uk posted his take on the matter on the new RYO reddit

The projects website: https://ryo-currency.com


The following two PRESS RELEASES are UPDATES from the RYO team as at May 29th, 2018

Ryo, What Happened?
We understand that the last few days have been very confusing for everyone. We would like to explain in an unbiased manner, the events leading up to now. To get the clearest picture, we will start from April of this year.

April 2018
Fireice_uk was hired to develop cryptonight-heavy for the Sumokoin team. The coin successfully upgraded with this new proof of work algorithm. Later in April, Fireice_uk was officially
brought on board team Sumokoin.

May 2018
Many things happened concurrently in this month. First, the core team decided it was time to rebrand Sumokoin in to Ryo. Fireice_uk was a part in this rebrand efort, and some say it was an
early attempt to subvert the team, which is a rumor spread by the original PR team.
At the same time of the rebrand, the frst unlock of 600,000 coins from the premine was closing in. Fireice_uk, now being a core member of Sumokoin had a disagreement on how to
allocate the funds. At this point there were two internal development teams. The frst one led by Fireice_uk, and the other one, led by Vu Quang. Each team was promised 200k coins, for use at
their sole discretion.

Fireice_uk proposed 50% of the premine be set aside in a transparent development fund, and the remaining split up into transparent wallets for; PR, design work, and misc. expenses. This
idea was proposed to Vu and the other members of the Sumokoin core team but, unfortunately there was no agreement to this. A rumor was spread that Fireice_uk wanted more than the 30% he
was ofered. This was proven to be false, as he ofered the team that he would be willing to take only 10% if his budget proposal was approved.

With no agreement in place, Fireice_uk walked from the project since he felt that there should be a clear budget on a long term project. 

May 2018 (Cont.)
In the latter part of May, Fireice_uk approached some prominent community members asking for their advice. He explained that he found a discrepancy in the premine amounts that
were to be unlocked. 1,000,000 coins would be unlocked instead of 600,000. He asked these members he reached out to and ofered to either 1) Resign or 2) Organize a community efort to
create a new team. A portion of the community backed him and a new team was created.

On Sunday, May 27th, the new team announced their intentions and suspicions of the current dev team. Issue included the dishonesty of the premine amount, accusations of “ghost
developers,” and the need for a clear cut budget. The community reacted negatively to this, and the new team was ostracized.

On Monday, May 28th, a press release was put out by the new team showing details of the extra 400,000 coins to be unlocked. It included instructions for anyone to verify on the blockchain,
this claim. When members of the original core team verifed these claims, Sumogr and Patrik stepped down from their role having lost trust in the original developer, Vu Quang. Later in the day,
Vu Quang announced that there was indeed an extra 400,000 coins unlocking and that he had mistakenly done this.

Tuesday, May 29th (today as of writing this PR) many in the community are not sure what is happening with the team. Both Vu Quang and the team led by Fireice_uk are claiming rights to the
coin Sumo/Ryo. If both teams do continue in their development, it will be up to the community to decide which team they will recognize as the oficial developers. The community should decide on
this by choosing which team’s daemon and wallet to run once each team releases a new version, as is the case for every coin’s change of consensus rules.

Please also see our next PR entitled...

Ryo, Where We Go From Here?
 
Note: this document is published by the team organizing with Fireice_uk. The original developer, Vu Quang, also claims the rights to the project. Please read our previous PR entitled “Ryo, What
Happened?” for more information on the events leading up to this.
We understand many members of the community are in search of answers on what will happen to Ryo if they accept and back the new core team. In this document, we will announce our team
members, roadmap, and plans for premined funds. Please note, that supporters and investors of Sumo/Ryo do not need to do anything with their coins at this point, and their funds are safe.

Team Members
Initially, the core team will consist of the following members: Fireice_uk and psychocrypt (the developers behind xmr_stak) will take leadership of all core programming on the daemon and
command line wallet binaries. Mosu_forge will continue on the GUI wallet coding he started early in April. Certain team members will support the community and act as liaisons for the moment. As
more projects are put on the roadmap, members of the community will be pulled into more roles, as well as new programmers will be added to the team.

Lead Programmers (C++ development, daemon):
Fireice_uk
psychocrypt
Support:
Nostradamus411
Soapy Fresh
K3v1n M4h35h Other Programmers:
mosu (GUI Wallet, website)

Roadmap
The new core team is excited to move Ryo along and add new features to the coin. At frst, we will
need to take care of management issues such as domain names, oficial pools, etc. After the small
housekeeping items are taken care of, you can read below the new roadmap for Ryo. There are no
dates on the below items, but every feature is planned to be released this year.
- New daemon that will rebrand Sumo to Ryo, and invalidate the current premine, until a
solid budget plan can be put in place.
- Introduction of Fireice_uk’s optimized EC improvements.
- Introduction of, multi-signature wallets allowing a more trustful developer fund.
- Integration of, bullet-proofs on the testnet chain. Integration to the mainnet will be delayed
until a qualifed mathematician can verify its validity.
- GUI wallet update, fxing the responsiveness of the current GUI wallet, and introducing a
dark theme as well as, international translations.
- Easy to use and secure web-wallet
- Introduction of “identicons” across the GUI and web wallets, allowing for quick verifcation
that a Ryo address is entered correctly.
As always, new features will be added as new members of the team are added.

Current Premine Funds
Sumokoin’s original premine amounts were to be unlocked over three years, with 600,000
unlocked in 2018, 900,000 unlocked in 2019, and 6,100,000 unlocked in 2020. Due to an error by
the original coders, 1,000,000 would be unlocked in both 2018 and 2019, with a smaller amount
unlocked in 2020. We feel this large amount being unlocked in one year is detrimental to the
health of the coin.

Future Premine Funds
Since the premine of Sumo/Ryo is fairly signifcant (10%), we would like to ofer a solid plan on
how to use the funds.
- We will invalidate the current premine with a new daemon release.
- Until the dust settles and the new dev teams has gained the support of the community, all
developments will be done without payment to the developers
- Eventually, a new premine will be created that will be locked for 5 years with a portion
being unlocked each month.
It is important to note that, when a new premine is issued this will not afect the total supply of
Sumo/Ryo in general, it will replace the existing premine. Only in a case that, less than 10% is
decided to be the new future premine will there be any efect.



HERE’s THE LATTEST PRESS RELEASE:

PRESS RELEASE – FROZEN ACCOUNTS ON CRYPTOPIA

6th of June 2018

For several days now Cryptopia has frozen all Sumokoin (SUMO) deposits and withdrawals. The Ryo Team
is disappointed with Cryptopia’s decision in this matter. Although Ryo is now a distinct project from
Sumokoin, we care for the investors and community that allowed us to reach where we are now with the
Ryo Project.

The Ryo Team takes great pride, and also remains true to our beliefs in being transparent to you, our
investors and community. As such, we are making every efort to compel Cryptopia to lift this trade
blockade. However there is only so much we can do.

We, the Ryo team, are under the impression that Cryptopia is interfering with the free marketplace
cryptocurrencies have made possible, and are putting us in a position where they can easily demand
payment of their high listing fees. Therefore, the Ryo Team is not considering now, or in the foreseeable
future, paying for a listing at Cryptopia. We choose this in order to discourage such situations from
occurring ever again.

We urge anyone who had Sumokoin stuck on the exchange at the time of the fork to contact both
Cryptopia as well as the original Sumokoin team. The Ryo team is willing to ofer Cryptopia free technical
assistance in allowing their customers to claim and withdraw their Ryo from the hardfork.
On a fnal note, no Ryo team member has misleadingly sent any email to Cryptopia masquerading as the
original Sumokoin team, as has been claimed in announcements from Cryptopia themselves. On the
contrary, our communications have been crystal clear; we are a diferent team, with the backing of the
community.

In the meantime, we are working on getting listed at multiple exchanges and will keep the community
posted the soonest possible on any new listings.

Sincerely,
Team Ryo

P.S. As evidenced by the above, we want to remind you the only safe place for your funds are in your
wallet which you have the private keys for. Only leave coins on exchanges that you are willing to lose. We
understand the timing of Sumo’s price plummeting along with this account freeze made for the perfect
storm where many people lost access to the Ryo they wanted to claim from the fork

Please join us on our Telegram for the latest news: https://t.me/ryocurrency
RYO Official Website: https://ryo-currency.com/

Buy and sell RYO on TradeOgre ::: read our new detailed  TradeOgre Exchange Review

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