Not sure how there is a conflict of interests. There is no exchange of money or assets between the two entities. Quoc is a developer and is also manufacturing a cold wallet. R1 can choose to partner with marketing and advisory efforts in a professional manner without a conflict.
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Hi all.
We created a central location for all Harmony recovery updates. You can follow this list of Harmony recovery partners, contributors & collaborators restoring the ecosystem.
Simply “Follow” this list on Twitter. https://twitter.com/i/lists/1598345697958547457?s=20
If you are interested in joining the recovery efforts we welcome all and will support your efforts! Hound, recently started a validator dedicated to burning 1Assets!
Love this quote… “The most reliable way to predict the future is to create it.” - Abraham Lincoln
#takeaction
“Professional manner without conflict”? Lol
So you are saying that you went out and sought a partnership and happened to choose this one? Please, spare the bullshit.
Please go back to the times when you have been looking through the grants and pointing out BS just like this one that you engage in yourself, how would you present it?
You know, I semi bit my tongue and even edited original message. But that’s not because I changed my mind but rather because I realised it’s inflammatory and I dgaf. Keep stewing in this krooked pot. I had an impression of you before I realised you are but an opportunist.
“Nothing better than post dumb platitude quotes to steer away the attention from krookedness”
-Albert Einstein
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sbae, we welcome your contribution too. We are doing good work at CDAO if you want to help us there?
No no no no no no, 20 characters long FY no
ok. Im sorry to hear that. 
There appears to be some confusion. Sato Hardware isn’t requesting a grant. This is R1 providing marketing and advisory support to Quoc’s hardware wallet, which is to more generally support users ability to own their tokens rather than relying on susceptible CEXs. Not really sure where you’re going with this, as I have remained vigilant in my efforts to support the Harmony community and have remained the most active of users during the market downturn.
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How has phase 2 gone so far? How much USDC has been burnt? How much money is left for redemptions?
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Please see above for the Round 1 & 2 summaries: Recovery ONE: Burn Phase - #80 by Pioneer
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Can we finally start burning BUSD and bscBUSD?
We will get to all 1Assets in time. 1USDC is the first on the list.
We had a poll on Twitter and the next asset to be added to the Recovery Exchange will be 1USDT. 1BUSD was a close second place.
Thank you for your patience. We will have another poll asking a similar question in the future.
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would be amazeballs if we could start liquidating low TVL bridged assets like PAX. Anyway, thank you @mbarret3 for another update!
I actually think that they should start with those low tvl, with immediate results showing repeg, instead of usdc, which will take loooooong
Thank you for sharing your thoughts and suggestions. Liquidating low TVL bridged assets could show immediate results.
I don’t understand how you imagine to recover peg with this process?
The average conversion rate is about 10% of the original asset value. So in two month all three partners “successfully” burned about $3M assets using $300.000 of treasury.
A quick calculation shows that in 48 month you will only be able to burn $72M (keeping the 10% average exchange rate). This could be even lower if the conversion rate increases…
How can you imagine burning the $100M depegged assets with this solution ?
The funding wasn’t meant to be static ($50k per partner). Initially the goal was actually a larger allocation. However, given current market conditions, the Harmony team is preserving as much treasury as possible and reducing overhead to grant them runway. They are doing what they can afford and will continue to pursue recovery, with hopes that the bear market and the struggles that it has placed on the financial markets pass sooner rather than later. At current ONE price the treasury is set on preservation of ONE tokens, as any market appreciation goes much further for those assets versus stables on hand.
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Recovery One is committed to finding creative and innovative solutions to recover the de-pegged assets and to strengthen the Harmony ecosystem. Its going to take time and patience.
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Exciting news for the Harmony Recovery. 1USDT has been added to the Recovery Exchange thanks to your votes. Swap 1USDT and 1USDC for USDS at r1.fuzz.fi and help us rebuild the Harmony ecosystem.
Let us know which 1Asset to add next.
Old poll: https://twitter.com/recoveryonefdn/status/1593045423123730433
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