Reimbursement Proposal [Horizon Incident]

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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when will unaffected bridged assets (examples: LINK or YGG) be available to move back to Ethereum??

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The problem with Aave lies with Aave. They are the responsible party for relying on a faulty price oracle and not responding to the bridge hack fast enough. It took them weeks to decide to stop borrowing and then reduce interest rate. Now they are trying to wash their hands of the problem by blaming harmony for allowing the bridge to be hacked.

If you are expecting harmony to respond to this you then you are expecting harmony to fix somone else’s problem.

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AAVE is not going to do anything about it because they are convinced that Harmony should resolve it.

Harmony Team has not confirmed yet if they are communicating with AAVE to resolve this.

Since individual users are affected, there is no incentive to resolve this. Individual users are invisible in this situation, they can only express discontent on social media.

This might change when affected users will organise into a group or seek legal advice or action.

Please do not MINT more tokens.
Please include 1SHIB also in the Depegged list. In other words it is SHIBA from ETH blockchain. I do not see in the list Deppeged tokens.

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AAVE is not doing anything because AAVE token holders vote with their bags. People who hold a significant amount of AAVE tokens probably have 0 to negligible stake in Harmony (ETH chain TVL$4.88B vs Harmony chain TVL$1.89m).

They are fine with earning fees from harmony users using their protocol. But when it comes to liability they don’t want to have anything to do with Harmony.

Change the situation, if WBTC gets depegged on ETH network you will see that their community will be up in arms demanding for compensation and votes for compensation will go through. Nobody will talk about getting Vitalik Buterin to fix the problem.

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AAVE just banned me from their Discord server for sharing the link to this opinion.

Seems like they are a lot more efficient in dealing with criticism than addressing protocol issues.