Thank you for your kind words; they mean a lot to us. We are all genuinely here to help, and we were attracted to this blockchain because of the positive energy that was part of the ethos of Harmony. We welcome feedback, but we kindly ask you to deliver it in a constructive manner. Remember that we are human beings, and the Recovery One team is doing its best to rebuild and strengthen what we have all lost.
Now, let’s address your questions. It’s always important to provide a comprehensive understanding of what an organization does because, over time, people tend to perceive things based on surface-level comments. This is especially true in Web3, where everything can be MEMEd and reduced to short viral tweets. However, the reality is that everything has nuances and complexities that deserve proper consideration.
1.) The Recovery One team takes a service fee from each round to support various initiatives. These include funding contract development, improving the user interface, communicating with the Harmony community, collaborating with AAVE and Curve, supporting ecosystem initiatives, promoting burning validators, communicating with remaining harmony artist, communicating with Tranquil and Modulo, assisting Tranquil in the new stONE validator section, providing ongoing updates and summaries, and facilitating AAVE’s inclusion into the recovery. These are just a few, but all of these efforts align with our initial focus on the recovery of depegged assets and the strengthening of the Harmony ecosystem through community action. Since the start we have followed a cadence regarding communication. We provide updates at the beginning of the round, mid-round through the R1 partners (past and present), updates at the end of the round, and summaries of the rounds for all recovery partners. We stay away from price talk because our words could influence price action.
2.) We take a service fee of $1,000 for each round to fund the initiatives mentioned above.
2a.) At the start of Round 8, $20k in USDC was added to the Recovery Exchange. This follows the framework that R1 has been following for a few months now. We break up the round into two parts. However, with the new Recovery.Exchange mechanism in place, we believe that we can load the entire amount at the beginning of the rounds. Regarding communicating the funding of each sub-round (Part 2), we do so through Talk forum and Twitter through the R1 members and R1 Twitter page.
3.) The Recovery.Exchange has undergone many changes, similar to the other burn partners. We chose to create a dynamic burn mechanism because we needed to stay agile given the variable nature of markets. Recovery One is different from Modulo and Tranquil as we actively seek feedback and communication with the community, and we work to address other problems caused by the Horizon Bridge attack. We not only burn tokens but also assist with a multitude of initiatives.
4.) In a previous post, I mentioned that the Recovery team conducted tests on the new Recovery.Exchange before funding and conducted another test after funding. There were two transactions. Here is the post that describes this fact: Recovery ONE: Burn Phase - #215 by mbarret3
4a.) Please refer to the above post I made to refute the misinformation.
Once again, thank you for your constructive criticism and kind words. The Recovery One team cares about the recovery, and we are also three individuals with families, kids, and full-time jobs where we manage people. Apart from our work here, we are Harmony community members, validators, and former developers. We are here to help, but we would appreciate more assistance. Instead of casting stones, please lend a hand. The Harmony community DAO is doing good work, and other initiatives are also taking action. Consistent negative attacks and approaches to this recovery or anything related to Harmony are not helpful and only breed more negativity.