Reimbursement Proposal [Horizon Incident]

There’s not unfortunately. All this community talk is pure BS. They got fleeced and won’t even repeg the stable assets. They clearly already took their decision - same old LUNA story.

3 Likes

Absolutely disgusting and shameful you would even present this….put your money where your stupidity is…

14 Likes

Please DONOT add more tokens to the existing supply. It will hinder our investment. This is not good for community. DONOT ADD DONOT ADD

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This is a massive supply increase. This will in no uncertain terms be paid for by those of us who hold large amounts of one by the value of the token absorbing the cost of the hack through dilution. I am not at all happy with this given this is about 95% of my portfolio of which I put my investment money into in good faith. I had zero exposure to bridged assets because I was faithful and determined to see Harmony succeed and held $one through the downturn, and yet if this passes I’ll be footing the bill. There’s gotta be a better way.

39 Likes

DO NOT increase the supply. This is SHAME

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How should I look at this steament? A threat?

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Seems like a threat but ONE would be gone with that result.

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Especially knowing half your team is interviewing and want to jump ship. Instills mad trust. Bunch of washed up engs who couldnt hack it at the big 3. No pun intended.

3 Likes

My vote goes to 100% reimbursement.

If you want to be the bridge to all blockchains you have to ensure people continue to send their funds to harmony.

And there’s literally no other way to raise those funds then by printing.
Goodbye my BTC and ETH, hello devalued and vested ONE.

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They should care as much as you and chip in some of the foundation treasury.

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Even without a fork Harmony would have a hard time competing with other chains. You’re just going to kill this project. DFK and others will probably move to their own chains.

1 Like

Is there a plan by the core team to raise more funding to offset this added monthly sell pressure?

  • Will any additional staking or vesting options be available to incentivize the users from not selling?
  • How is this increase in supply and monthly emissions of $2.7m forecasted to affect the price in the long term? Has the team modeled this?
  • How does $2.7m/month of additional supply airdropped fair with total trading volume of Harmony, is the volume enough to not cause big price impact on monthly basis?

It is really good to know that a strategy specifically towards DeFi is being worked on. Unite Finance team wants to help in every step of the way and work under core team’s guidance to reestablish DeFi on Harmony.

6 Likes

It’s the professional equivalent of “take it or leave it”

Welcome to the next phase: which will teach you that the largest ONE bagholders have all the say and you can only watch.

To be perfectly honest, I’d probably vote for the chain to keep the money at this point. We can do this on our own, one project at a time.

5 Likes

I doubt that Harmony ONE will still be around in 2023 to repay these ‘payments’

You think you are saving this chain? No, you are destroying it.

9 Likes

Congratulations for dooming the project. Great process design as well to implement “Byzantine General” problem solving on a PoS chain that has a broken governance model.

Great idea to let investors fight like rats amongst themselves, while displaying sheer incompetence in adhering appropriate security practices. I’m sure the parachutes for team members must be ready & available once the team’s token unlock schedule opens up in December 2022.

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There’s no way that this is the best solution that was brainstormed for a month! This feels like an attempt to move on to another project without liability.

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Seems like we should move forwards with this proposal.

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My tldrs are included under the ones I have issue with honestly this is a big FU to investors of harmony and its statement that just basically says were going to keep paying the team to make dumb decisions and not worry about investors thats why were giving you an inflated token instead of dipping into the treasury

5 Likes

How about buying ONE with the treasury then borrow all the assets you need to repeg against it. Fix your bridge and reopen it using borrowed assets. Arbitrageurs will need to buy ONE from exchanges, the price will pump and you will be able to repay the loan.

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How will you calculate the USD value of tokens in a given wallet?
For example, if you were providing liquidity to the One/1USDC pool on DFK, will you be compensated?
How much will you be compensated?

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