Exactly this. The Recovery One idea was designed to placate the community. The community spent weeks without reimbursement coming up with other options, most of which included more treasury amounts from 20%-40%. It is obvious no community input was included. Look no further than the fact that the official “community” Recovery One proposal is the exact same one the actual community unequivocally rejected with over 300 messages with staunch opposition. Logan/Quoc/Jack went through the actual proposals in 5 minutes and they were all mostly dismissed. There was no debate. There was no community input. There was no vote.
After all this wasted time pretending it was run by the community to come up with this robust multifaceted approach, here we are with the “official proposal” (Stephen Tse 2.0) and it is being rushed to be jammed through and they can’t answer a single question. Everyone has a price to betray the community, and Recovery One’s is $2.4M.
But it doesn’t much matter because its a fairy tale to think it will maintain peg of $0.22 or any long-term value at all because some random forum guy had an idea about DeFi one day that he can’t even articulate. The victims take on all the risk of this pipe dream and hopefully make it to the end where they get 1:1 ONE in three years. I’m obviously a hard no as mostly everyone else is if the vote even matters. None of you should stake a single token with a validator who would hard fork the chain to do this. This tiny liquidity pool will break in half on launch especially with all the speculators buying at $0.10 on the dollar simply to profit immediately at $0.22 before legitimate victims can even get out. To add insult to injury, the victims will be holding the bag again. Wen rONE recovery plan? I hope this back of the napkin DeFi utility works guys. Otherwise, see you in 3 years.