Recovery ONE: Burn Phase V2

Ecosystem Resources
64
2 Likes
65
1 Like
66
1 Like
67
68

Hey Buddy, Any update news for AAVE recovery ?

69

The R1 Ambassadors will help with this initiative.

70

Hello !

I didn’t follow the recovery plan for more than a year and I don’t understand why my address is not in the pre-hacked list. My 1assets were stacked on stakeDAO (It was on curve + stakeDAO).

Can you explain me why I’m not in the list ? I can give my address if needed.

Thanks

71

Repeg is literally impossible and won’t happen for the reason you mentioned.

Harmony is merely trying to burn worthless assets for as cheaply as possible. They’re “reimbursing” users who lost money - due to Harmony’s own negligence - for pennies on the dollar.

1 Like
72

One of the R1 Ambassadors. Please weigh in.

73

I’m not sure if you’ve seen it, but The Defiant recently published an article about this process. As we continue with the recovery, I expect more media coverage to highlight the efforts of the community, Aave, and Harmony in rectifying the situation.

The Defiant Article: Aave Assets Still Stuck Over a Year After $100M Harmony Bridge Hack

74

Hi @mbarret3,

I see modulo started the latest round yesterday. When do you think Recovery.exchange will start this round? Are you also switching from USD to WONE?

75

I didn’t really follow but is there a reason to switch from USDC to WONE? It’s way less advantageous and attractive

76

I’d assume it’s because the staking rewards are in ONE so it would be a waste to convert it all to USDC but not 100% sure

77

Ok make sense but for us, the community, I find it -EV.

78

Hi,

When you have swapped your depegged 1assets to USDC using R1 recovery exchange, what can you do with those pegged USDC ? I could’nt succeed to find any Dex that recognise them, to swap back to WONE or to send them on a CEX to get 10% of my money back.
Please advise and give solution to use/swap those USDC because for the moment they are event more useless assets than the original 1USDC that I could have swaped on SushiSwap.
Thanks

79

I think you can swap them against Wone or anything through sushi, or just use an aggregator like openOcean. And these assets can be bridge back to mainet or at least BNB Chain with the new Bridge too i think.

80

Did you managed to find a bridge and successfully swap?

81

Has anyone successfully completed a recovery burn?

82

I successfully swap back to various other assets yes, using Sushi and openOcean. For the bridge I think it’s this one:

https://layerzero.bridge.harmony.one/erc20

Did try it personally yet

83

Hi, I would like some update as to what happened to the USDC promised by Harmony’s treasury used for recovery (used to be $120k for the three recovery partners).

Now that Tranquil is no longer a recovery partner for a few months now, I noticed that the $40k USD per month designated to tranquil is no longer being delivered. Shouldn’t this be a $20k increase each in budget for modulo and recovery.exchange?

It looks like the last round only used the staking rewards for the recovery, correct me if I am wrong.

If this is the case then it seems to be untruthful by the Harmony team which promised $120k USD of treasury to be allocated every month for recovery.

Clarity needs to be established here and in your articles.

1 Like