Reimbursement Proposal [Horizon Incident]

I would appreciate if someone from Harmony could spend 20 seconds replying to the questions here please:

Thank you.

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The difference is that users who have assets locked and frozen in AAVE seem to be in a similar situation to Celsius customers. The rest of the users still have a choice between selling or waiting for the solution.

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No reimbursement should be the proposed way, I’ll try to explain why (FYI, I invested heavily on Harmony myself but didn’t not get my funds stolen). As an investor especially in the crypto space, you should be well aware of the risks. By putting your tokens on the bridge you accepted the risks that come with smart contracts/exploits/bugs. It was your decision and you got hacked because you did not make sure the technology was mature enough and did not make enough research to establish the maturity and test coverage of those smart contracts. So, you got hacked, it is also your fault as an investor, so go after the hacker instead of damaging everybody’s investment.
That said, reimbursing by issuing more tokens is going to be devastating for all Harmony investors, not just the “hacked” ones. If you cannot find a way without damaging the tokenomics then the right way should be no reimbursement indeed.

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@harmonyprotocol

If you are unable to quickly restore a full repegg, you will be required to prove to us that every effort has been made (but failed) to fund a full repayment of our assets entrusted to you.

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And more fund sources…

Hello, first step is to learn if Harmony Team is aware of the situation with AAVE? I’m trying to establish it here:

关键是小白都不会犯的错误。专业人士居然出问题!这丢的是私钥!中心话的东西怎么玩?

They list AAVE in the table at the bottom of the proposal.

Easy to say when you did not have any loss. What do you do with all ONE holders stuck on AAVE after trusting Harmony team which incentivised the lending of AAVE to build the defi of harmony and now all the ONE holders are currently stuck, impossible to withdraw.
No reimbursement or reppeg is clearly not an option for the future of harmony. (Your ONE bag would go to 0 anyway)

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It’s not easy to say zoufou, I lost enough money on investments to know the pain myself but I accepted it and learnt from it. I’m also one of the MtGox creditors as well so no, it is not easy to say. Still what you should accept though as an investor. What if you invested in real estate and the house would come down due to an earthquake and you didn’t have an insurance? What then? Next time you’d do the insurance and learn to better diversify your investment. Consider that an investor with no losses does not exist in history (if you’ve done it long enough). Losses are going to be there, you just have to learn how to minimize them and have more profits than losses.

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Says the guy who push for no reimbursement by thinking it will minimize his loss… but it will put your one bag to 0, that will be the result and harmony fundation will be sued in court.

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You’re not really addressing any of the comments I made, your only point is basically that since I have lost no money in this case then I can’t have an opinion which makes no sense at all. Reimbursing by issuing more tokens is only going to bring down ONE a lot, there is going to be a huge dump. So why the community should agree on that (community being EVERYBODY that invested in Harmony, not just you poor soul that lost his money because didn’t think where it was putting his tokens)? That’s basically killing the project.

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Yes, I see they list it but the question is about assets being frozen / locked:

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Okay so first of all, read the full thread and you will understand how it evolved: harmony is reworking on the plan.
Secondly, thats not a hasard if you are the only person asking for no reimbursement. And giving life lesson on investment, come on…
Thirdly, you can have your own opinion, i dont want to debate with you, that’s my last reply. If you feel enough childish to continue replying then go ahead.
Now lets refocus on the hack issue.

That’s not really “life lessons on investments” though, I was just explaining that when investing whatever happens is on you. You should’ve known that actually, the fact that you didn’t (don’t?) is quite self-explanatory. So just learn and move on.

Let me clarify. I don’t have to repay anything. I do not have any debt.

But my assets are frozen. So, whilst some people can move, sell etc their tokens and have some degree of freedom what to do, considering obviously tremendous loss of the value, I’m not able to do anything at all.

Let me clarify your funds have been borrowed and no one repay their loan so you can’t withdraw.

I would be more than happy if this gets resolved and I can access my last funds I’m holding on Harmony.

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Yes, I agree, however all other markets / chains seem to be functioning well and withdrawals are possible. Therefore there are no doubts that root cause of our problems is bridge exploit.

They mention your issue in the “resolving de-pegged loans” section. They specifically list AAVE under “uncollectible loans” in the table at the bottom. I think that answers your question.

I would like to see dedicated solution to unlock locked assets first, after that, when this is resolved users will have a choice what to do. I feel that people who have locked assets do not have any choices.

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