This proposal is good and would possibly combine the 2 camps in the support overall.
What can be done to help?
We can wait for more opinions and proposals to agree and vote finally with success.
I see what can we help to generate more opinions?
So what I am understanding from Alex response is there is not enough revenue to come close to paying back hacked funds. The example he used was
USDT
Reserve factor 10%
Reserves 8,239.0487 USDT (all time)
The USDT has market has only made $8,239.
Assuming all 17 markets have made this much or similar amounts (probably not the case), onyx has generated $140,063. It would take 15 years to pay back hacked funds.
Exactly and that is why in Proposal 4, it is leveraging the Onyx Capital Facility to payback hacked funding over a 4 month period.
Hey,
Thanks for your input.
Not, itâs not a joke. I know projects with similar price drops, but they still have communities. E.g., in ADM, there was a drop from $0.05 to $0.0002 (~100%) with delisting from all exchanges, and they overcame it. Compared to that, XCN has strong positions. XCN will overcome this as well.
Yes, I watch Twitter and sometimes Telegram. I didnât call anyone dumb. I agree with the policy not to talk about XCN priceâit was so before me, and itâs also why many exchanges listed XCNâitâs their rules. We tried running a price chat in Discord, but it was unhealthy. However, itâs my personal position, and things may change, and youâll get the price talks you want.
Yes, itâs me who chose the way without a security audit. We had no contract changes after Onyx passed the Certik audit, and as I said, we intended to run a new audit after running new markets. After an incident, a security company said that the code itself passed an audit, and that was correct, as the hacking issue is about how the new market was runâwith the empty market at the start. Still, I consulted with security engineers, besides the specialists who were a part of the team. Unfortunately, nobody noticed the flaw.
Paying a bonus is not connected and not âinsteadâ; a bonus is a part of my work agreement.
I disagree about âno involvementâ; refer to my previous post. Yes, I understand users were expecting better results from me and the Onyx team.
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Right.
As Tristanman mentioned, Onyx still has a strong XCN treasury, which can help with loss recovery.
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To speed up the process maybe we could add a little burning in there. Pull out $2.1 million worth of coins from the DAO. Burn $1.05million worth. Pay off half the exploit with the other $1.05 million?
This would help out both XCN holders and people that lost money to the exploit.
That does not help with overall confidence of XCN as a whole and being in the treasury is essentially âburnedâ because its timelocked up.
what happened with recovery proposals is pretty crazy . how all 3 can be defeated
Well the 4th proposal is nice for everyone who is directly affected Like me, i would Love to See IT Pass.
But i dont wanna Invest or lose more Money Just to vote.
And everyone who didnt supply other coins Just dont care or vote against proposals Like turning apy down or have Up hole companyâŚ
Hi,
Today, the DAO initiates voting on Proposal #4.
To receive voting power, get your XCN staked before the proposal is started.
Proposal #4 is live, vote! Onyx Protocol
The DAO refunds voting ETH fees.
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vote for it guys max vote and lets end this drama of 1 month
Every vote FOR Proposal 4 counts
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yes sir . close fight going on . lets show your power and make it happen in favour
To unclear what the proposal is and what the implications will be. Need more details.
There is 4 billion xcn staked, so even if you have 100 million xcn, there is a bigger wallet who can outvote you.
Alex, i feel like you are running this as a site job. If you really want more interaction and involvement with the xcn community, you could have given more information, like a recap of the ama, which was requested.
No more lending on onyx if this proposal gets accepted ^^?
Its ridiculous that u didnt overworked the proposal and told us more Details before u put it up for vote
@alex
U should have us more information
Just put up next vote to left the Money behind it will pass i think.
I wouldnt Care about the other ppl If id be a whale
No, there will be a V2 version of the lending markets