Clearly there are respected members of the core team who do not support this proposal… so if they are willing to get together to fork the network away from the current leadership we’d be open to supporting that new network with our validator.
7 Likes
This proposal is utterly bad and it just shows how @stse and @lij want to preserve the treasury they have, instead of making things right. May i remind you two, that this was strictly held by the team, so a class action lawsuit is applicable here as your multisig meant you guys were custodians of those assets.
Either you find a good proposal which DOES involve your treasury to reimburse the victims, or prepare for lawsuits. I am willing to help the community on this and get these people grounded down on earth instead of in champagne showers heaven.
As an ex co worker of Harmony, this is disappointing beyond words. Stse and Li should just leave Harmony and stop hurting the project with their mindless decisions and party parroting.
14 Likes
So you are expecting EVERY person invested in ONE to pay for THE TEAM’S ROOKIE MISTAKE by minting a boatload of unbacked tokens and dropping the value of ONE into the gutter? Take responsibility for your stupidity, dig into that treasury and pay these people back. I’ve known for a long time this team, especially its leadership, is a mess but this is beyond that. This is a display of complete moral ineptitude. You are literally telling us the only solution you have is for the community to eat your mistake. Events like these define you and you are about to be defined as a bunch of moron crooks trying to dump your mistakes on the public in general. This proposal is absolute and utter HORSESHIT. Are you going to pay these people back at the price before or after you dump a shitload of minted coins into the ecosystem? Because the price of ONE is going well under a penny when you do this. SAVE THE BLOCKCHAIN! STEAL EVERYONE’S MONEY! This non solution is no different than the thieves that took the bridge money to begin with.
4 Likes
Вы просто кучка тупых долбоёбов.
2 Likes
And this is what you brainstormed for a month? So that after so many days of waiting to shit such a fucking garbage-posal? You are just pathetic bastards. Third world prison is waiting for you fucking motherfuckers.
So… let me get this straight.
Not only are we completely ignoring the massive outcry in the comments but the whole supply is going to be massively diluted hurting every entity and individual in the ecosystem. Why did a 2/4 multisig even seem like a good idea? Common sense would make it majority so 3/4 but dealing with so many security issues and billions of dollars you would think 4/5 or 5/7 would be safer and more secure. I digress if the only two proposals are destroy the system 100% or 50% how about a third?
Give 2 weeks for the community to create proposals along with the 2 given above. Our two vs. your two then we ALL vote on the next one. Community, devs, employees, everyone. The current plans sound more like “We know better and we’ll do it this way” which will cause US to migrate away and those who know better to deal with their 100mn loss alone.
2 Likes
Big brains in the space.
I have been a Harmony supporter for a few years now.
Because I’m older (50+) my strategy is one which involves little risk and is more about staking, compounding, using rewards to build my portfolio and building up a steady stream of passive income.
Increasing the supply is going to harm me and all those others that have staked for years, supported the chain, kept it safe/stable from $0,0025 all the way up to $0,37/$0,38 and back down again
From what I understand some people have been slacking.
If we don’t start holding the ones who caused this responsible and find a way for them to pay up or using the teams/VC funds whatever to refund those affected crypto will be just like the big banks now and nothing will ever change.
I’m not a big fish but these are my sats 0,02
6 Likes
What about acting from the other side? Setting up a burn mechanism that will push the price up enough for those affected to recover their lost funds over a certain period of time (eg. 6 years)? I know how it sounds, but I believe the ecosystem is wide enough to be able pull a tokenomics to allow something like this… perhaps a burn validator where certain parties are incentivised to send their rewards, or something!
2 Likes
IMO it would be better to buy back the depegged tokens at their current value and burn them. Yes it would screw over those directly affected by the hack, but so does the current proposal, along with every ONE holder without fixing the problem at all.
I wonder how much your treasury will be worth in the end after a massiv inflation like the one proposed. I exspect investors and more projects will leave causing the price of ONE to plummet.
3 Likes
Another inflation? Why not use VC? Can the CEO invite VC to help them? If not, then, the head needs to be replaced.
1 Like
Okay so I have a problem
I sold all my 1USDC at a loss, so the future snapshot will give me nothing… Great plan
Plus with the extra supply will highly likely cause a gradual dump and price drop of ONE making the rest of my investment worth less…
In addition Forks/ migration = the end of projects
Avoid at all costs
1 Like
I want to say that I haven’t seen such incompetency in a while, but unfortunately it seems like crypto space is rife with it. I really hope that the team reconsiders minting more tokens, that will kill the project.
3 Likes
This proposal is garbage. It’s an insult to the affected wallets and all current stakers.
This proposal should be amended to include 25% up-front reimbursement to affected wallets. It should also increase staking rewards to offset the inflation of the plan. We shouldn’t have to pay to preserve Stephen and Li’s ego.
They expect the community to take their lumps for them? That’s ignorant and it sure as fuck doesn’t create HARMONY.
1 Like
Why must the community pay for investment lost? Loss due to hack was unfortunate and we all shld be aware of the risk individual has to undertake when investing in token or coin right?
This proposal dont make any sense. I predict if the proposal passed then the community and the blockchain will loss its credibility since nobody can guarantee another hack n compensation will not happen again.
Reject the proposal.
2 Likes
What a joke. So worried about the precious treasury that they couldn’t even offer a percentage of it towards the losses and somehow don’t realize that it’s about to be worth exactly squat. You don’t need a multi-year runway when the chain won’t last 6 months after a blind, arrogant, out of touch proposal like this is made.
This decision/proposal was made by two people who ignored everyone else in the room and now apparently everyone on the chain. You two deserve to watch this project die.
3 Likes
this must be some sort of a joke right??!!
2 Likes
This is terrible. Can we vote to get rid of Stephen and Li instead?
5 Likes
Reimbursement is reasonable but minting is a lousy solution. Trust will be gone and inflation will kill the chain gradually, you cannot let the community be responsible for this chaos.
Plz help to find another way to reimburse, minting will just make it worse.
1 Like
Short summary:
This single proposal, with no alternative other than f**ked yourself, is not an option and demonstrates the express will of the management team to evade its responsibilities and their deep feeling towards our community.
1/ No repeg: no refund of the underlying assets stolen due to their deliberate negligence
2/ Reimbursement of 50% OR 100% of the 1assets (decision suspended to the vote of the 5.5B ONE held by validators) at a price arbitrarily and unilaterally fixed by Harmony at :
1ETH: $1100
1WBTC: $20000
1BNB: $220
3/ over a 36 months period (why not 10 years either!)
4/ with minted ONE, paid by a Terra Luna-styled hyperinflation
This solution is not acceptable as it is, and S. Tse knows this perfectly well.
It is not acceptable for 1assets holders, nor for ONE holders.
To the community:
A class action lawsuit for negligence is being investigated with blockchain experts and cryptocurrency lawyers against Harmony Foundation, as well for not implementing the minimum measures to protect customers’ deposits.
Harmony breached its duty to secure customer deposits and kept promoting the continuation of a functional market for assets that had become worthless as a result of their failures, thereby exacerbating the losses of said customers.
If you want to join, please:
a/ gather as much information as you believe is necessary for your particular case on all harmony.com subdomains: www, docs, open, talk, blog, dev and bridge
b/ export and download a full .CSV export of all your Harmony transactions from Explorer / Wallet / Transactions tab (bottom right).
Repeat as much as you need from calendar and through explorer because of 5000 transactions limitation.
c/ export and download as PDF the full docs.harmony.one
d/ DM me on Twitter @MaewouOne (you’ll be asked to provide your 0x…… impacted wallet address in the upcoming days and personal identification later)
7 Likes