Dear Revuto community, our supporters, and REVU holders.

Thank you for your patience and support during the last 24 hours. From the launch of our Token Sale on
Cardano, our team worked 24/7 to investigate what happened with our platform under the heavy load,
and how the Cardano node was performing. Lastly, we were sorting out problems with transactions
coming to Cardano wallets at different times and speeds.

What happened during the token sale?

As you already know, we had a high load on our website, which was expected and tested before.
However, what was not expected and tested was a high number of registrations at the beginning of the
token sale. After each registration, our app creates deposit addresses for the user, and for that, we use
Cardano wallet API. However, it seems that the Cardano wallet API has a much slower response time
when there is a higher number of registered users (the more users there are, the longer it takes for the
wallet to generate an address). This created a huge bottleneck in our infrastructure, causing a much
higher response time to all requests going to our Kubernetes pods.

Approximately an hour after the sale had started, we managed to somehow get the total number of
investments at some point and realized we had reached around a hard cap. We couldn’t update anything
on the backend or reset the Cardano wallet as we were not sure if users' deposit addresses will be gone
and cause a mismatch in the whole calculation or losing money. That’s why we made an update on our
frontend app with the clear message that the round has ended and announcements regarding that, so
people stop depositing. Then we started addressing all the issues regarding the infrastructure and
backend API. So, all was good until we realized that some users have reused their deposit addresses or
kept them saved and sent ADA to those addresses. Our backend was off the load now, so it accepted
those transactions as successful. We realized it around 4 PM, and that's when we stopped that
immediately.

Later, some users start reporting all the issues with transactions. While carefully going through them, we
realized that Binance exchange is sending batched transactions on users' withdrawals, meaning that
transactions from more users are inside one transaction. While this is generally ok, our validation on the
backend didn’t recognize all transactions in that batch as it used transaction ID as a unique field. So, the
issue was with Binance batched transactions when 2 or more users are sending to the token sale in one
batch. When the transactions coming from Binance were processed chronologically, some of them were
marked as successful while the rest were marked as not accepted - out of the round cap. Looking further
into the situation, we did not find this issue with transactions sent from other wallets.

What did we decide to do?

After talking to some of you individually, it didn't take us long to realize that it would be impossible to sort
every single case at the time. That's why we decided to give our supporters and REVU buyers the power
to decide what they think is the best for them. The procedure took some time, and today we knew the
results. The majority of those whose transactions were not accepted decided to get their REVU instead of
getting their ADA back.

Unfortunately, during the process, a new set of bad circumstances happened. Today, the Crypto market
crashed what reflected in the price of ADA which we decided to send back. After a long discussion with
our team, we decided that it would be best for everyone to allow users with bad transactions to get their
REVU for the price of ADA when the transaction was initiated and to put them into the Community Sale
round. The idea behind the decision was: if we start sending ADA back to those who already decided to
purchase REVU in our Token Sale, they will get much less REVU for their ADA if they try to buy it again in
the next round. Still, to keep this a fair trade, we decided to give a 24h buyout option for those we put into
the Community sales round. In the meantime, everybody who purchased REVU in EBT1 should be able
to see their REVU balance in the Revuto Token Sale platform profile. All requests for ADA will be
accepted until May 20th, 6 PM CET via ts@revuto.com

Some facts:
During the Early Bird tier 1, we had 47k users registered to our Token sale platform, 25.3 K users pass
KYC verification, 1943 users invested, 2482 transactions were refused because of putting a wrong
amount or being late. Technically, the round was filled in a few minutes.

During the last 14 days, we had 1.57 million early signups for the Revuto App and Revuto referral
program.

Lastly, all Early Bird T1 investors will get a special NFT for what we're preparing a special webpage with
some really awesome NFT illustrations. After the Token Sale ends all participants from the EB T1 round
will get their NFT's but more about that event will be announced soon.

Again, we apologize for the inconvenience but only together we can make this amazing story succeed.

Vedran Vukman
COO @ Revuto