A community statement posted to the subreddit r/BlockDAGInvestors disclosed details of a recent meeting between BlockDAG leadership and two community members who have been acting as self-described investor representatives. The statement, authored by Reid Davis and Mohammed Adam, summarizes discussions on liquidity planning, presale fund management, governance structure, and issues affecting BlockDAG’s listing and launch readiness.
Davis and Adam wrote that they participated in a business meeting with BlockDAG leadership and published a summary for the community. The post outlines leadership’s described commitments, items still under discussion, and the reasons the representatives said they were unable to proceed with any formal oversight role.
BlockDAG Listing Liquidity Allocation Disclosed During Investor Meeting
One of the disclosures in the published summary relates to BlockDAG’s post-launch liquidity allocation. According to the community statement, Gurhan Kiziloz, the recently exposed founder of BlockDAG, said that approximately $32 million would be allocated to a public liquidity wallet, either shortly before or shortly after launch.
This figure contrasts with BlockDAG’s published documentation. Materials hosted on the project’s official wiki reference a $100 million liquidity provision, described as a measure intended to support market stability, manage vesting-related releases, and reduce volatility after the presale period. Prior to the community statement, the $100 million figure had remained the only publicly documented liquidity reference.
Presale Fund Validation and Multisignature Wallet Request
The meeting summary says that Gurhan Kiziloz declined to provide pre-launch, community-verifiable on-chain validation of presale funds, noting that financial transparency measures, including audits and public wallet disclosures, would be addressed only at or after launch.
According to the community statement, Kiziloz described audits and public wallet disclosures as post-launch initiatives rather than pre-launch requirements. Davis and Adam said that this sequencing led to an impasse, noting that they declined to participate in any formal oversight role in the absence of pre-launch, community-verifiable confirmation of presale funds and operational capital. They cited an inability to provide assurances regarding post-launch funding and liquidity support under those conditions.
According to Davis and Adam, they requested the use of a multisignature wallet holding operational and liquidity funds to allow public, on-chain verification while reducing unilateral control. They said that this request was declined, with Kiziloz citing security concerns and the project’s private structure as the basis for that decision.
The representatives said they disagreed with this rationale, noting that multisignature wallets are commonly used across blockchain projects to mitigate risk, not increase it.
No alternative escrow arrangement, third-party custody solution, or interim verification mechanism was described in the meeting summary.
BlockDAG Launch Readiness, Miner Delivery, and Network Testing Discussed
The published summary also references discussions around miner production and distribution timelines, handling of compromised wallets, dashboard updates, and a proposed community referendum to determine future governance structure after launch.
The representatives noted that large-scale global testing of ASIC-based mining hardware had not yet been demonstrated publicly and expressed concern about proceeding with a launch before presale hardware is delivered and tested at scale. These items were described as ongoing discussions rather than finalized commitments.
The summary also referenced the planned launch of a separate project, Cold Wallet, described in the summary as another presale initiated by Gurhan Kiziloz and intended to operate as a layer on the BlockDAG network.
What Is BlockDAG?
BlockDAG Network is a cryptocurrency project developing a blockchain architecture based on a Directed Acyclic Graph (DAG) model rather than a traditional linear chain. According to the project’s public materials, BlockDAG aims to increase transaction throughput by processing blocks in parallel while maintaining a proof-of-work mining model supported by ASIC hardware.
The project is currently conducting a large-scale BDAG token presale, which BlockDAG says is scheduled to conclude on January 26, ahead of its planned mainnet launch and future exchange listings.
BlockDAG has publicly claimed that it has raised more than $440 million during its presale to date, positioning it among the largest crypto presales by reported capital raised. The project roadmap references mining infrastructure, token vesting, liquidity provisioning, and post-launch decentralization plans.
