seriously , how can the first proposal make it thru. Shows how out of touch is the team with the community. Its a total look down on all hodlers .
no transparency and yet want the hodlers to bear the damage . How much cheeck must one have to execute that?
In the bridge hack, ONE token was not affected - when can we expect the Horizons bridge to work with ONE tokens again? I have a lot ($1M+) of ONE stuck on BSC chain right now that I would like to move over to native chain.
Thank you. The new proposal needs a solid repegging plan. The ecosystem will not survive without those assets being repegged. No ONE inflation either. Thanks again and if you canāt determine a new proposal soon, please communication more even if itās just a āstill workingā tweet.
I appreciate you listening to us Stephen. I have never been so concerned about Harmonyās chances of survival as I was over the last 36 hours. Even the Hack itself didnāt shake me like this proposal did. Looking forward to what the Team comes up with. My thoughts are, itāll be to difficult or non financially viable to fix everything with one approach. A multi-pronged approach while adding some complexity has a better chance of making most of if not all holders whole.
Some areas to explore:
Thereās a lot of possibilities that will help.
After this is finally put to bed, can we focus on the chain development? I would love to see you involved directly with eng team fixing the chain and working on the roadmap.
Some final thoughts:
Leadership.
The kids eat firstā¦who are the kids in your business?
I see Harmony employees and community members as the kids.
Provide people with purpose, direction and motivation. This requires providing some context for taskings. Knowing expectations up front. The vision or intention behind the task with an end state picture. Donāt be afraid to get your hands dirty along side your employees.
Well defined structure, everyone needs to know what their job is and who they can go to if they need help. Just having everyone jump in on everything leads to very low productivity. efficiency is everything, and employees respect efficient use of their most valuable assetā¦time.
Jim
Thank you for reading our feedback and taking action that represent the Harmony values.
Values that your team created but now your community hold true and expect those values to be included in all decisions.
Returning to the drawing boardā¦. What I would like to see.
1.) An Innovative solution that expands the ecosystem, is disinflationary, a community focused solution that is truly impactful (not a Band-Aid), lets create a solution that creates momentum. Lets get creative.
2.) A Transparent solution, thank you for reading our feedback but letās really involve the community. Give the community a place to submit our ideas. May it easy. Create a temporary link on harmony.one that redirects to https://talk.harmony.one/. Lets submit all ideas. Collaboration is the fastest way a group grows, in this case the Harmony Chain.
3.) An accountable solution, this bridge exploit was due to incompetence. Someone needs to be held accountable and responsible. Someone needs to fall on the sword and lose their job. Incompetence can not become a value of Harmony and without firing a person responsible, incompetence as a value, will seed itself because thatās what happens. Perception Is Not Reality but in this case incompetence/negligence, the lack of action is the deep seeded reality.
4.) Growth- the fastest way to grow is to hire a very talented Operator. Behavior is changed Ā¾ by the influence of others. Harmony needs a competent and experience Operator to navigate the catastrophe ridden 2021-2022.
5.) A upgrade solution, we need some information about a new feature that will act as additional value to the chain. To show the community (to reiterate) that harmony is a blockchain that continues to build and create products.
Long term, the team needs diversity of thought. People that are all types of thinkers, their are 16 different myers briggs personality types. Hire different personality types with different soft and hard skillsets. (as of right now, harmony has too many idealistic/romantic thinkers, get a Steve Ballmer type leader to come in and really shake things up, within the culture obviously).
The community is strong let it continue to grow and flex its support or you will kill it.
In light of Harmonyās suboptimal payment plan, it appears that it will be very difficult to get DeFi back on track at Harmony
If no repeg, Defi on harmony is done and defi will migrate to other secure chains.
There is another proposal for you to consider:-
Make a special NFT 1 million of them call them lottery NFT. Sell them each $100.
Thatās a total of 100 million and pay the affected wallet .
And now every week all the wallet who hold this NFT will put into a draw and randomly pick one wallet. And the wallet will receive all the transaction fee from the week.
So it will run indefinitely whoever hold this NFT will be in the draw.
Or u can take 26 million one from the rewards and pay 500 thousands one every week to the lottery winner.
In future if u need to raise more money for anything you can just sell more NFT.
Unless there are new structures in place to allow dynamic communication from core team members (AND ECOSYSTEM DEVELOPERS and community members) regarding how the network is lead and operated, and a long term plan to decentralize the core team operations/funding into some kind of DAOā¦
I am not sure how much to care that @stse has said, āI see you hated our plan.ā because the cat is out of the bagā¦ We arenāt a decentralized network when this is HIS network and weāre just left to deal with whatever he decidesā¦ and waste time pretending he has what it takes to get us out of the problems we face.
WE NEED TO WORK TOGETHERā¦
THINGS MUST CHANGE.
IF WE SURVIVE IT WILL BE BECAUSE THE COMMUNITY STICKS AROUNDā¦
IT WILL BE BECAUSE WE BELIEVE IN THE NETWORK, THE DEVS, THE PROJECTS & THE WAY WE CAN COME TOGETHER AND WORK TO ACHIEVE GREATNESS.
IT DOES NOT MAKE SENSE TO PUT SO MUCH POWER INTO THE HANDS OF @stse & @lij
The days of authoritarian rule from on high must end if we are to survive.
Hello, first of all you have to consider re making the bridge hook is the best solution, it is best to find bianance to see if you can step in to get help, or develop a solution, your previous solution is like using poison to quench your thirst, do not consider the foundation to keep the one if the problem can not be solved will only fall infinitely, find a way to mortgage or sell out to see if you can exchange the lost tokens. If the community recognizes your solution, it may also agree to issue additional one to build a new foundation. You should let the people who lost and the community vote, and not set up a solution where the community and the people who lost are in conflict, you are just avoiding responsibility and shifting the conflict. I hope you are saying more than just saying that.
Literally that all we need. Presence, communication and transparency.
Quite literally its NOT that HARD 
This could work with better odds. Say daily drawings and those winners get 50% of the days transaction fees. Then just double the cost of transaction fees, and boom.
Or 2 daily winners each get 25%
Or 5 daily winners each get 10%
Hey guys! I want Harmony to be a successful and used network. And the bridge hack shouldnāt kill the network.
My 2 cents about the proposed solution.
I think the idea to fundraise 100M to cover the lost funds is the best in the current situation. The only missing point is that @Announcements shouldnāt force us to purchase ONE with the current price but rather fundraise from VCs or private investors and give them good rates to make it attractive enough.
At the same time, all users that were affected by the hack should be able to choose whether they want to support the team and invest in ONE with the suggested price and lock-up period.
And another part of the user should be able to claim their stablecoins back when the value of these stable coins will be covered by the investment raised.
Idea:
1.) announce a half year Harmony Foundation buyback plan for all assets that weāre bridged.
A.) this will drive bridge assets back to parity. Return parity of assets and defi protocols will work again. This will happen quick.
2.) at the end of the half year all assets bought by harmony foundation are burned.
A.) assets owned by ecosystem will partake in snapshot and assets become bonds (bOne).
B.) Bonded assets will act as a bonds and can trade freely at market price before maturity.
C.) new bonded assets bOne has high interest rate and trades like StOne.
D.) At maturity is redeemable or convertible to One from treasury.
ā¦resources to buyback initial assets by harmony $20-30m comes from treasury.
ā¦resources to create BOne comes from community and treasury. At end of 3-5 year maturity mint gOne. Governance one tokens. gOne permanent Token like Stone. (Permanent derivative staking token with governance features.)
ā¦gOne perminant governance token.
Thats my idea- create a valuable crypto bond, my background is in finance. Heck, prob have to check with SEC but how far do you want to push innovation?!
Or partner with tranquil finance to create this product. #defi
Donāt agree mbarret, in 5 years from now ( yes I know that seems a long time ) this will be forgotten about. There will be new investors, a bucket load of new developments and projects. Crypto is in its infancy and as gut wrenching as it is re-pegging right now unless there is an influx of fresh capital not an option in my opinion.
You literally have the worse people working for you to come up with these ideas. You can take a percentage of staking rewards or you can increase the fees for transactions.
Erik, Your response, ā¦.sounds like a lawyers response. (And, Thatās why very few lawyers run start ups and big companies. They run nonprofits, NGOs and bureaucracy very well though. Lawyers are good managers and great at managing a slow death! Fees.However, all those things donāt operate on capitalistic principles they rely on government for funding or inflationary monetary support).
It does not sound like someone who is building a business. Building a customer base, building trust in a sector of the economy that is in its infancy. You lose trust you lose customers, user And developers.
Any real business person would tell you that negative feedback, negative reviews, negative energy and negative stories around a organization kills it.
If Harmony doesnāt seek to re-peg it will die because that will be the dying brand. It killed defi defi killed harmony. Oh and lawsuits will come from past negligence. And then you will see fees. That why i say, in full circle, its a lawyer response erik.
Trying to manage time and hope to make it to 5 years is such a weak approach. Why- Timing, time management has been harmonys greatest weakness. And harmonys timeline is forever Synonymous with negligence.
The problem with this is as you increase the tx/gas fee, the number of tx will decrease. The number of projects and users will decrease. Nobody on DFK will stay on Harmony with those fees. And then youād lose a vital source of funding.
The math as I see it:
No re-peg = no defi on Harmony + no trust in Harmony to secure future bridged assets = Harmony is dead