proftpd not resolve MasqueradeAddress at boot

/var/log/boot.log returns the following error:
- Fatal: MasqueradeAddress: unable to resolve "ftp2.versaunion.net" on line 52 of '/etc/proftpd/proftpd.conf'

network conectivity is ok after complete bootup, proftpd can be started in terminal: sudo service proftpd start

Running Ubuntu 10.10
ProFTPD Version 1.3.2e (standalone mode, tried in xinetd will not suffer from the problem, but other problem exists so I cannot use xinetd)

strange output (after idle for 10 minutes)
donald@arbiter:~$ sudo service networking status
networking stop/waiting

but network connection is normal

ProblemType: Bug
DistroRelease: Ubuntu 10.10
Package: proftpd-basic 1.3.2e-4ubuntu0.1
ProcVersionSignature: Ubuntu 2.6.35-24.42-server 2.6.35.8
Uname: Linux 2.6.35-24-server x86_64
Architecture: amd64
Date: Wed Jan 5 17:49:22 2011
ProcEnviron:
 PATH=(custom, no user)
 LANG=en_HK.UTF-8
 SHELL=/bin/bash
SourcePackage: proftpd-dfsg