Here’s a better proposal :
-
Eject Stephen Tse from the Harmony foundation instead of letting the project intentionally die. The remaining team members must huddle around again to get the chain back on it’s feet. If there is a clause in the foundation’s charter, then a vote of no confidence must be put into effect.
-
The news of some team members possibly looking for other jobs is appearing to be certain with this announcement.
A new project CEO’s involvement & restructuring of the team with a new business plan should be a decent enough carrot to attract new round of investors.
Stephen’s conduct throughout this ordeal has been unprofessional in terms of community interaction, business mandates for the Core team & this proposal does not elaborate at all on details of the bridge hack incident at all (i.e. alleged act of theft).
Even if we discount founder ejection, here’s why it’s a bad idea (in all quadrants of strategic thinking):
-
The sell pressure on ONE would force running validator nodes become unsustainable, & this move is literally an attempt to hold validators hostage, with little to no recourse. Operating at a “continued loss” would cause many of them to shut their nodes down.
-
Not only does this move hold network on-chain stakers hostage, It hurts bridge investors as well, without offering them any sufficient recourse option.
-
This proposal will dissuade any of the remaining ecosystem partners to stay on the chain, or new ones to come forward & work with the chain.
-
Let’s not forget the rippling effect of PR firestorm this action will cause within the crypto community as a whole, and attract undeserving attention.
-
The option of no recourse in the absence of a validator consensus is a betrayal of social trust (i.e. this is me saying this, without holding any ounce of bridged assets atm)
It’s a matter of absolute incompetence & unbridled shame that this is what is getting presented to the community after weeks of brainstorming.
