Well said.
Continuing the discussion from Reimbursement Proposal [Horizon Incident]:
Consider a user from Stephen’s proposal who lost $1,000 in the hack. They will receive 50,000 ONE over 3 years, ~1,300 ONE monthly as part of Stephen’s proposal of 100% reimbursement. If ONE doubles to $0.04, the user captures all the upside. They then got $2,000 worth of ONE if they held the whole time + whatever staking rewards from staking that ONE in any dex, pool, lending, etc. ONE is incentivized everywhere already. Why do we need to incentivize rONE. Under this proposal, if ONE is $0.04, that’s 200% parity value if ONE rises.
Every day you continue on this path, if ONE goes up, they are losing out on that upside unless it was still honored at the $0.02 originally proposed. That same users 50,000 ONE at the price of $0.022 would be up 10% so this months distribution to them was at 110% the parity value they lost.
Can you please explain how rONE is different? Walk us through how that same user who lost $1,000 would fare under rONE. My view is they will only be able to get $0.22 if they rage quit (an 78% loss). Hopefully this price holds up. Of course it could be higher if rONE rallies higher. Or they can stake rONE on Tranquil or other granted projects and hopefully make ends meet. Would it really even be possible to incentivize this more than ONE itself? Or they can exchange it at the end for 1:1 ONE. Is that an incorrect understanding of the proposals?