This furthers the notion that the Recovery Multisig will serve as an addition to the current recovery process by giving additional funds to each recovery partner on a monthly basis.
I was expecting the spreadsheet of detailed data about the impact on the network of all HIP30 that Casey said Harmony was working on to present us. Already passed 3 days since this new HIP30 revision was proposed and nothingâŠthis data should be presented along the proposal, not sometime after (if ever)
In positive side, thank you for the Custodians
3 Likes
What kind of information are you looking for?
Here is the list of current nominations:
- Affinity Shard
- Boxed Cloud
- CryptoTech
- EasyNode
- Enter Group
- Hank The Crank
- Kratos
- Legion
- metaONE
- Nick Vasilich
- OctekaOne
- One1000Lakes
- ONECelestial
- PeaceLoveHarmony
- PiStake
- Quick One
- TEC Viva
Appreciate your quick and engaged participation!
If you see your name listed above and would like to opt-out for any reason please send me a message prior to Tuesday, July 25th. (Nominations will remain open until then as well)
7 Likes
As stated in the original proposal, team and partners will not participate in the Recovery Multisig. Therefore, we have made a minor adjustment to the nomination list. Hound and Matthew Barrett have been excluded from the list as they currently serve as members of a recovery partner.
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Thank you to whoever nominated me for Recovery Multisig. I appreciate the thought, but as I donât agree with how the recovery plan and itâs partners have been setup behind closed doors and without community approval I wouldnât feel comfortable signing transactions to send community funds in to it.
@theo1 Iâd like to opt-out of this election please.
1 Like
We are ~10 days away from the snapshot. Each validator will have the power of decision according to the delegated quantities.
In order for this to be fairer for the whole community, I think there should be a pre-voting of the validators and that it is possible in a timely manner for the delegates to move and redelegate their voting power in the HIP to the validators aligned with their desire of vote.
using current price levels of $ONE , the proposal aims to raise approx. ~1.3MI USD / YEAR with helper argument in repeg. This represents a current timescale of 73 years (with just this actionâs values) for the total repeg.
However, the reasoning is confused when we consider where these tokens are. Considering the information from Harmonyâs EXPLORER (please donât give a worthy etherscan) we have:
+22k addresses hold depeg USDC
+13k addresses hold depég USDT
Just 2 examples to illustrate how the total burning of depeg tokens will take place?
I understand that Validators and Delegators are a network institution that is INDEPENDENT of Defi harmony. The proposed actions are aimed at fixing DeFi issues. With the current competition from harmony in the crypto market, interfering with this last frontier of network health might not trigger something worse than the current scenario?
Even more so if we are calculating something so long term on a network that today has no attraction for DeFi and apparently nothing is being worked on to re-invent it (on the contrary)
1 Like
Assumptions:
Network Configuration: 2 shards, each with 200 nodes (Total: 400 nodes)
Node Distribution: 360 external nodes, 40 internal nodes
Validator Bids: Up to 10 keys per shard, 20 keys total
Annual Staking Emissions:
331,125,000 ONE
Projected Annual Percentage Yield (APY):
Range: ~6.3% to 8% (Dependent on validatorâs bids)
Effective Median Stake Calculation:
Based on Total Network Stake / Number of Nodes:
- Total Network Stake: 5,245,109,329
- Number of Nodes: 360
- Effective Median Stake: ~ 14,402,876
- Lower Bound (65% of the median): 9,361,869
Key/Weight Amount Optimization:
Based on Current Key Usage:
- Effective Median Stake: 11,227,012
- Lower Bound: 7,297,557
Validator Fellows Finalization:
Post snapshot vote for HIP-30v2:
- Estimated initial number of fellows: 30 to 40
Note:
The above analysis does not account for dynamic changes in total network stake or potential transitions among validators.
We will continue to update information here as well:
https://www.h.country/governance-report-hip-30v2-on-25-emission-split-2-shards-3c62ff18e8c84676b034ab9d5cc58312
2 Likes
I received a notification earlier, however I was mobile and unable to connect my wallet for a few hours and then it must have expired. Iâm not sure if any of you would know about this butt it looked important. Thanks for any help.
1 Like
What is the definition of ârecoveryâ? Iâm asking because people with assets frozen in AAVE cannot participate in the vote.
Given the ratio of Total TVL vs assets locked in AAVE, does it make vote not democratic?
2 Likes
Continuing the current $120,000 USD per month allocation (not including any additional funding coming from the emission split) our timescale is ~73 months.
Additional recovery information can be found through this dashboard provided by ChefSoySauce, and Recovery One Medium posts here.
4 Likes
There was a scammer targeting validators while impersonating staff, they were removed so it probably disappeared.
Be careful out here 
3 Likes
Nominations will officially close 2023-07-26T22:00:00Z.
For more information on this update for the Recover Multisig nominations please see this thread here.
2 Likes
The HIP-30v2 Snapshot will include these proposed changes:
-
Split 441M ONE tokens annual emission: 75% for staking rewards and 25% for bridge recovery.
-
Shut down Shard 2 and Shard 3 of our network.
-
Change from 250 to 200 nodes each for Shard 0 and Shard 1.
-
Change the minimum validator commission from 5 to 7%.
In the original forum post, the initial option was stated as âChange the minimum validator commission from 5 to 6.7%.â The 6.7% commission proposal was based on the configuration of 250 nodes in Shard 0 and 250 nodes in Shard 1. In that case, the validator commission would need to be increased from 5% to 6.65% for the validators to receive the same potential staking emissions if they maximize keys after the 25% emission split. The commission was rounded up from 6.65% to 6.7%.
The change from 250 to 200 nodes each for Shard 0 and Shard 1 would allow a validator a maximum of 10 keys per shard or a total of 20 keys for the network. The change means that a validator would go from 13 keys maximum per shard (225 x 6% = 13.5) to 10 keys (180 x 6% = 10.8). Given this configuration, the validator commission would need to be increased to 6.93% in order for the validator to receive the same staking emissions after the 25% emission split. The HIP-30v2 Snapshot will call for 7% minimum validator commission, which is a slight rounded up from 6.93%.
7 Likes
Progress has been made in the right direction.
But we still think the big validators will need to be pushed, even just through discussion, to reduce the number of keys they bid in order to favour decentralization or we will have a blockchain of few.
Looking forward to sign the blocks in <1s!
3 Likes
I hope this doesnât mean that we will have a few big validators only operating the network 
. Another step to the right path.
1 Like
The hardware specs for SHARD 0 are a lot higher than SHARD 1, so I assume we will get an overload of Keys in Shard 1. This will create an unfair advantage for the large validator. We need more decentralized security than a 10 key max. I still think 25% of emissions is too high and still too much of a burden for validators and stakers to take on for the sake of recovery. It will create a large flow of sell pressure on ONE, thus depreciate its value. We need to onboard more utility into the network. AI, 1s finality, .country are all platforms to bring on new usage and bring on more fees to help us recover. We need to repair the networkâs utility with a high performance dApp thus appreciate the value of ONE. Then recovery can be planned with a different perspective of our economics. We have sustained the network this long after the hack, we should be able to bring on something interesting.
3 Likes
What will happen to validator that has maximum fee equals 5%?
Will it be automatically increased to 7%?
Long time ago I heard that when minimum fee was changed to 5% after 100 epochs than all the validators that had max fee lower than 5% had problems.
Hi, yes they will eventually be increased to 7% and automatically. We havenât defined yet how that will happen but I guess the same rules as previous with the 100 epoch would apply.
you have to be more specific, what problem did they face? What I know about was validator who were not elected and couldnât update their fees as this wasnât done automatically.