Oh hi folks,
Last year on December 9th, we made an official announcement about deprecating MsfPayload and MsfEncode. They are being replaced by msfvenom. Well, today is the day we pull the plug. We are currently in the process of removing these two utilities, and in a day or two you will never see them from upstream again.
If you are still not so familiar with msfvenom, you can always use the -h option to see the help menu. Or you can read the following wiki documentation to get started:
RIP MsfPayload & MsfEncode.