Reimbursement Proposal [Horizon Incident]

DO NOT MINT MORE!

This will really screw those who are staking. Did we not learn about inflation? When you increase the supply, price does not follow.

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“We gonna give you tokens that will be heavily inflationary, but don’t hurry, every little thing is gonna be alright”

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This is a lot to process but thank you all for pulling something like this together…

I hope that all members of the community consider what this means… and lend their voice to this proposal…

1 initial thought…
Is there any expectation that the foundation treasury could be deployed in some way to help with this repayment plan?

Especially those whom allowed this hack to not be corrected, as the security issue was brought up by several within the core team and from the community before the hack. Would any core leadership have their compensation be impacted in some way to compensate for this massive recovery package on the backs of all harmony holders?

Essential, will anyone whom allowed this hack to take place take a pay cut, from the compensation they were scheduled to receive, as a show of good faith for an obvious lack in judgement about allowing security to not at least match what has been suggested for the many projects issues grants on harmony?
@lij ?

33 Likes

2 weeks for this shitty proposal & no repeg. Payment in ONE aka inflation and coins becoming worthless. A hard fork to kill the small chance this chain had. WTF.

It boggles my mind that not only do we lose money, we also pay for the reimbursement ourselves via inflation. You guys have no shame to call this a “reimbursement proposal.”

TL;DR The “community” loses their funds AND foots the bill to fix their shit.

EDIT: Dumped everything I had in this chain. I’m out.

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Can the proposal add a BURN after the wallets are reimbursed?

Personally though, what’s lost is lost (we know the risks of crypto and that it’s not FDIC insured)…Re-peg is more important.

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How about DO NOT impact the supply?! Trying to be Luna here down the road??

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Minting more ONE?? already the supply is too high, increasing more will further hurt the tokenomics.
Isn’t there any other way? like doing a fundraising event with all the bigshots in the ecosystem or giving some stake in the company to CZ for that stolen amount etc.

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Let me make sure im understanding this….you idiots get hacked 2/4 multi sig and some how the community needs to eat this? Bc you care so much about chain growth? What chain growth thus far??? Wtf have you guys done in the last year…you have no ones trust moving forward…so you fcked over bridge users bc your incompetence and now wanna fck current holders, investors and stakers…by increasing supply….what are you guys smoking???

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This is absolutely garbage, scrap the whole proposal and go back to the drawing board Team!

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Use the treasury now or it won’t matter what you have in the future

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Let me get this straight: no word for weeks, to the point where projects like OneVerse had to take matters into our own hands to bring backing to your tokens, and the proposal you come back with is a LUNA-style hard fork and a 3-year vest?

-So we didn’t learn from DFK’s failures on locked tokens and vesting schedules
-We didn’t figure out how to make the project teams who’ve been having to figure out everything for ourselves even partially whole
-There is no triage, nor plan for bringing active project money/participation back into the chain

I think any reasonable person can look at the “development” happening on NuLuna and see where this leads. OV’s still going to do what we can, but this proposal is frankly unacceptable by our standards.

The community should not foot the bill for Core’s negligence. Full stop.

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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.

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

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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.

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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.

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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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