Recovery ONE: Burn Phase

Ecosystem Resources
215

A Few Recovery Updates:

  1. R1 is collaborating with Harmony to address Aave’s bad debt. We are seeking insights, solutions, and ideas. Please contribute via the Google form at :point_right: http://RecoveryOne.community. Share your solutions for Aave’s debt resolution. We are hoping for a practical solution. (The form closes on April 28th).

  2. I noticed a post here discussing the test transactions from my main wallet on Recovery.Exchange. The Recovery.Exchange V2 went live this round. We conducted a few tests before funding to ensure everything functioned properly, and one test after we funded the Recovery.Exchange on April 11th. I performed one test to confirm that the exchange was working properly before making the public announcement on R1 twitter. We funded at 3:39, my test at 3:39, and R1 Tweet Announcement at 3:40.

  3. The R1 exchange rate on Recovery.Exchange V2 is 0.105, Modulo is at 0.108, and Tranquil is purchasing from DEXes at market price.

  4. R1 is building our verification and contract detection for Part 2 of Round 7.

R1 remains focused on the recovery of depegged 1Assets and the strengthening of the ecosystem.

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