Harmony on aave: uncollectible loans

Hello,

Following the recovery one plan presented last night, i would like to know what is planed to be done to solve the uncollectible loans issue on aave? I did not hear anything on that in the meeting and i wonder how rOne will help fix that. It was part of the initial rembursement proposal and i feel it has been forgotten. Could you please give a status on this specific point?

Thanks by advance

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AAVE is a very large issue, and a complicated one. They allowed users to abuse their protocol after the hack, which lead to about 450K loss. This could have potentially been avoided by freezing borrowing and adjusting oracles, like what many other lenders have done.

That being said, each lender has their own proposal being worked on and AAVE in particular has not been confirmed at this time. R1 is working on this though in conjunction with lending partners.

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I have nearly 600k ONE locked up in loans on AAVE. I have no control over what the AAVE team does, I just want my ONE unlocked. How do we get to a resolution for this sooner than later? I don’t care about politics, I care that I get my ONE back so that I can continue to use it. Right now, I am getting nothing.

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We are a group of users who potentially lost everything, let’s call ourselves a victims.

There are some other groups of people: Harmony Team and community, AAVE Team and community, AAVE users who managed to borrow using the exploit situation.

So far, from what I understand and see no one except the victims has got any will or motivation to do anything. Actually it is more convenient for everyone to do nothing and wait for others. Unfortunately victims cannot do anything, we are completely powerless.

Only one thing to do is to raise the awareness, be vocal, remind everyone, stay active and ask for the solution.

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You can have a look here for legal actions: Recovery One - Community governance for depegged tokens - #105 by MaewouOne
If nothing is done to reimburse lenders, I am considering joining the lawsuit.

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@zoufou and @UnArge4, I understand your frustration. I think it’s hard to focus on one issue or one group when there’s so much going on right now and so many separate issues that affect different groups that need to be solved.

I’m not directly affected by Aave myself, but I’m interested enough in helping if I can at some point soon. And believe I could at least make somewhat of a compelling case to Aave to hopefully work towards some kind of a solution and reopen the discussion at least. Likely it’s going to have to involve the team either way. But I’m sure they want to solve this as much as anyone too.

Would not recommend supporting anything related to a lawsuit though. Do not think that’s the solution.

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its been nearly 3 months and funds are still locked with no other option. If a law suit is not the path forward, how much longer should we wait? the legal action is only if the Harmony team doesn’t resolve the issue with a more warranted outcome than what was proposed. AAVE could help Harmony if they wanted to with their Treasury, why don’t they? The issue here is making things right for the Harmony users who loaned out their tokens with risk in mind for compensation for that risk taken, now there is nothing coming to those locked tokens and meanwhile the debate continues with no solutions to be executed.

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