bscBUSD? seems smaller than BUSD, may take less time to actually repeg/burn
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Two videos by Harmony Community DAO offer insight on various aspects of recovery.
Harmony Community Broadcast: What is Layer Zero?
Harmony Community Broadcast: The Role of Recovery Partners
Show your support to the Harmony Community DAO. These dedicated volunteers work tirelessly to improve and uplift this community, and they deserve our appreciation and support. Organizations like Harmony Community DAO are essential to helping us all weather the storm and come out stronger on the other side.
Show them support by following on Twitter: https://twitter.com/OneCommunityDAO
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Is there any explanation/guide on how to use the recovery exchange?
Are we able to recover our $ONE that’s stuck staking in AAVE?
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The Recovery Exchange is not integrated into AAVE. However, it’s a good idea and is something R1 would like to do. I will ask AAVE if it is something they can build.
Also, Harmony and AAVE have to come to an agreement at some point to reach 100% participation on the recovery.
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We are also asking a new poll question for the Recovery Exchange.
Which 1Assets do you want R1 to add to the Recovery Exchange? (We’re considering adding two this time.)
Please vote on Twitter: https://twitter.com/recoveryonefdn/status/1607920733283295234?s=20&t=UPcizm8Rd4qEA8gu7WW1fQ
Thank you for your patience and understanding throughout this recovery period.
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well that sucks I will swap the little i have of usds for one.
Seems like BUSD won competition, dai second, bscBUSD third.
Personally I would go for BUSD & bscBUSD, as those two TOGETHER are smaller assets compared to DAI…
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Thank you for everyone’s participation and guidance in the vote.
Please check out the newly released FAQ- HIP-28 Fee Collection
FAQ- HIP-28 Fee Collection - Google Docs
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Hi, do you know why when trying to exchange some 1BUSD in Modulo.so I get: Failed to burn. Error: Error: Internal JSON-RPC error. { "code": 3, "message": "execution reverted: SafeMath: subtraction overflow" }?
I checked and Modulo still has funds, I have not yet exchanged anything (so not over the limit) and I have enough ONE (50), but I still can not exchange my BUSD (around 500 BUSD) 
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It doesn’t look like it is only me, more people are having issues burning BUSD in modulo.so: https://explorer.harmony.one/tx/0x2d4afc8d04bfeda1809fbf5390b2213e1cb982b34c591031ebab06ec8d5f2bad
I brought this to the developer’s attention and they pushed a fix today! They limited the allowances of USDS on purpose and lifted the fence for unlimited
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Just wanted to share this with the community in every place possible, I have recently started supplementing my Medium articles with YouTube content. Today, the community has discovered and confirmed that the Horizon bridge hacker has moved stolen funds from the wallets which received the ‘mixed’ ETH from Tornado cash back in June. The funds were sent to Railgun, a privacy Dapp onchain that uses ZK and their own tokens in order to provide anonymity to transactions (obfuscation). Afterwards, the funds were allegedly sent to OKex, Binance, and Huobi (see the Misttrack tweet).
Authorities and CEX have been alerted and this is still a developing story. See my YT video here for more info.
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… How come USDC is back to $0.08, I thought swap rate was like $0.12 at some point?
Does burning makes sense at all then?
Any idea why burners stopped working?
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It’s because there is so much on market and arbitrage participants can buy much lower and are willing to exchange for $0.10. We can’t raise the rate if we’re more effectively clearing depegged assets with fewer dollars.
Hey everyone, between rounds, we have been in talks with another recovery partner- Tranquil Finance. In preparation for kicking off their stONE liquid staking solution, they would like to open up the validator selection process to a 3rd party in order to further decentralize their Dapp. Additionally, this could be a small source of revenue for R1, as stONE currently takes a fee of 20% of all staking rewards (this is up for discussion and negotiation with Tranquil).
Would you support R1 to be the governing committee that handles the stONE validator procurement process? Metrics which make a good fit would include:
- Server uptime
- Reward rate
- Elected/ not-elected
- Active within the community
- Yes, R1 should take on this responsibility
- No, Tranquil can maintain this list
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Can you please clarify which criteria will you use to allocate the tokens? stONE was announced as awesome in terms of decentralization, but it ended centralizing the network with big validators (and like 2 handpicked small ones).
Also in terms of revenue, can you please tell us in which %'s are you planning to allocate that income?
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We don’t allocate the tokens, the user does from a pool of validators which we would select based on the criteria above. You need steady uptime to avoid penalty and favorable rewards rates. Otherwise, we can procure a list and vote on it. We’re open to that procedure. There’s also the new body of core validators being formed to discuss governance- that may be a good start!
We haven’t discussed how to allocate whatever percentage we’re able to secure, but it would be one of two things: either a source of revenue for R1 on a path to becoming self-sustaining, or a mixture of that and contribution towards the burn program.
Then it really makes sense then to burn smaller assets, or divide harmony funds equally between current ones: uscd, busd, bscbusd, dai - smaller assets should get burned faster, and when smaller are burned - those will be out the way (means good news for harmony), which will leave only big cows like usdc…
We actually should start burning with smaller ones instead of big ones. Fast results = more community support
Maybe I didn’t express myself correctly, what I mean is:
Currently in stONE there’s a certain % target allocation to each validator, how would you decide it? For what I managed to understand it would be maybe by talking with the new body of core validators, right?
Thanks for the second question, I’ve nothing extra to ask!!
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