AMPL problem on Aave v2 Ethereum

I can’t claim , the “claim” button is grey.

It looks like the activity only existed for an hour before being closed.

Bro, I mean proposal that they give something on top of what AAVE decided to pay. No one can write better than you…

“I have already started consulting with lawyers in the USA, they will find out what can be done in this situation.”

smh…My brother in Christ

You are getting a REFUND in Defi!

You won!

May not be the amount you wanted, you may not be made whole, but by crypto standards - this is a MIRACLE!

I wish you guys the best of luck, but this is Defi, not Tradfi. I have never heard of lawyer successfully getting investors a refund for anything in Defi.

Defi has no ownership. Ampl/Aave - these are just smart contracts on a blockchain, 1 and 0’s.

Defi was specifically set up this way so that there are no centralized entities that can be held liable - for anything.

Crypto has high rewards for a reason. Because of the high RISK

Just Chat GPT

" I am an investor in the aampl token, developed by Ampleforth/Fragments. I seek to receieve additional compensation due to a bug in their code. Can you write up a proposal?

This is not correct. I was able to claim much later. Some glitch probably.

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@ChaosLabs @bgdlabs Could you please provide an update on the 2nd/Final distribution?

Many thanks for all your efforts!

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I completely disagree with you, regulators have already investigated many cases and are now taking De-Fi projects, and tokens in overall seriously. I can’t say that I like it, probably not. But there is one big BUT - investors must be protected and treated with respect. The projects were developed not by AI, but by specific people who still manage them in an essentially monopoly mode, and only pretend that these are decentralized DAO communities. If the AMPL developers had entered into a dialogue, things would have been different. But they simply ignore the investors who suffered through their fault, and even deleted most of our messages. In AMPL Discord, I felt the full extent of censorship, someone even advised them to rename the Discord channel to AMPL North Korea.
Based on this attitude towards investors, it is quite fair that we organize a massive report on them to the relevant regulatory authorities, both USA and EU. Of course, we understand that this is unlikely to help us return lost assets and the process will be very long. But these guys definitely deserve the attention of regulators, inspections and mental headaches. They only have themselves to blame because they have been warned several times about the consequences of treating investors this way. They harmed us, we will do the same and mirror them with the same attitude. Please note that almost everyone who are dissatisfied by them were fans of the project (You can read my nick name), and the AMPL team is responsible for what will soon begin to happen. They have a chance to improve and finally start a dialogue, but given the last few days in particular, I have little faith that they will finally wake up. Let’s see, I really hope I’m wrong and maybe they are just super busy or ill and soon will answer to us

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Even though @AMPL uses AI to write his amazing posts, he is very good at prompting, I love how constructive his messages are, even if most of them were created by AI. Mate @AMPL , we all ask you - write a good proposal on the Ampleforth forum, please!

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Good luck with that on Aave.

When you use Aave, you also accept to their terms of use.

Like I mentioned earlier, they are going a bit out of their way to do this.

“Among other risks, bugs, malfunctions, cyberattacks, or changes to the applicable blockchain (e.g., forks) could disrupt these technologies and even result in a total loss of cryptoassets, their market value, or digital funds. We assume no liability or responsibility for any such risks. If you are not comfortable assuming these risks, you should not access or engage in transactions using blockchain-based technology.”

It has been said many times by many people that the investigation revealed a fact in the error of the code that AMPL wrote. That is, they are directly responsible for what happened. AAVE’s only mistake is that they did not conduct a thorough audit before implementing the AMPL code on their platform, and yet they took upon themselves 60% of what they considered 100% fair. We have big questions about the calculation of this 100%, but let it remain on their conscience.
We believe that the AMPL team should compensate us more than 40% of what AAVE calculated. The AMPL team should pay the same amount as AAVE, which means 60%, namely another 211.6k USDC. It is also a fairly insignificant amount for the protocol, but significant for investors. In this case, each of them will pay 634.8k. AAVE already agreed to pay this amount, but AMPL only paid 423.2. If AMPL pays the same amount as AAVE, I am almost sure that all the victims of their mistake will be calm and no further steps will be taken against AMPL.
In my personal opinion, this is a very good compromise for a peace agreement and settlement


For visibility on this thread, following the timeline, yesterday a proposal has been created on-chain for the Aave governance to approve the previously disclosed second distribution.

Its content is as previously disclosed, with only 2 additions to be consistent with the model of distribution:

  • Mooniswap LP holdings are included directly into the distribution.
  • The final amount has slightly increase as the APR considered will be until the execution day, 4th May.

Individual claims can be verified on the link HERE


Hi Everyone,

We understand your frustration with the situation.

Letting BGDlabs lead is not avoiding responsibility but it is more efficient, that they handle it as they are the experts on the system. and even though the issue stemmed in aAMPL implementation which was developed by Fragments. Audited by Peckshield who have deep knowledge with AAVE contracts and was reviewed by the AAVE dev team before BGDlabs took the development role.

The simulations and calculations involved are mainly of the AAVE system specifics. And they are the best suited to do it properly.

As much the issue wasn’t handled as smoothly as everyone involved would like to see. including Fragments, BGDLabs, Ampleforth and AAVE communities. Even though Fragments and BGDlabs pushed for different approaches initially to make users whole. Neither parties are not concerned with the users or not taking them seriously.

I understand that calculations posted by ChaosLabs and BGDlabs are technical and may not be easy to follow for the affected users.

@QuantumEvolver @Paulus

What calculations are you basing on that BGDLabs and Chaos lab calculations are only covering 60% of your balances? Including the specifics will be helpful to verify. You can DM me on the Ampleforth Discord if you prefer to not to share specifics here.


I understand your calculations and I think @BGDLabs addressed them.

I prefer not to take make this thread about the share of blame of the situation as it is not productive to getting distributions done ASAP. You can refer to the timeline shared here for more background: AMPL problem on Aave v2 Ethereum - #120 by Naguib

We will do our best to get to the best resolution possible.

Dear Naguib,

The frustration is that the Ampl team is not available for any discussion or will take responsibility for the problem they have caused.
Several investers have tried to make contact in the discord group as indicated by Aave, but without success. Including the second payment, I have lost half of my investment. But read some of the responses from Quantum Evolver, among others, about this story. I have been in Ampl on Aave since October 2021.

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@Naguib - first of all, really grateful that you are stepping in to provide inputs, perspectives and updates. Please note that is appreciated.

My only ask is - there are a lot of technical issues and everyone who is trying to address has done great work in analyzing the issues but it still doesn’t quite help the AMPL investors. I do believe Aave has done its part, they are disbursing for whatever they deem is appropriate and they have made very clear that it’s final. I am ok with what Aave has done.

My question to you and Ampleforth team is - what can you do support these 1000s of impacted AMPL users. I am not looking for any sophisticated on-chain analysis, I am looking for a human response and consideration. There is a reason these protocols are not completely run by bots, there are people who are trying to make these protocols work and successful, I am asking those people (behind Ampleforth) to step in and help. AMPL investors are loosing money and that’s sad. An effort from Ampleforth team to compensate the users will go a long way in preserving the reputation and integrity of the protocol.

That’s all from my side. I am an effected AMPL investor here and am going to lose my hard earned money because the technical errors in the systems I trusted.


Dear @Naguib thank you very much for responding and writing, we really appreciate it ^^

As I wrote several times before, AAVE did not calculate based on 87.5k APY, this is the key point why the rest of the numbers do not add up. And the last 2 proposals (1 link ; 2 link) that affected the AMPL mechanics should not have been used, because investors found themselves in a situation of error, with the inability to extract their liquidity. Therefore, it is completely incorrect to take into account the reduction in APY from 87.5k to the APR that AAVE took into account, same as changing RF to 99%.
Investors did not have the opportunity to pull out liquidity to receive rebases.
The asset grew up by 500-600% thanks to rebases. Therefore, the correct calculation would be to take the Correct aAMPL on 16 December and calculate it based on all rebases.
Or as second option - calculate it based on 87.5k APY (without using the wrong 2 proposals for this asset, which I noted in link 1 and link 2. None of options (rebases from December 16 or 87.5k APY without 99% RF) were not used to calculate correctly.

I don’t want to participate in the process that @AMPLER proposed to contact the regulator to ask for help and complain about AAVE and AMPL, this idea is completely unpleasant and not close to me. Especially considering that I really like both projects and have been investor in them for many years and wish them only success and prosperity.
Nevertheless, I agree with him that it would be great to come to an agreement peacefully, and for investors to get a little more from what AAVE offered as “fair” 100%, because that’s actually not a fair solution, arguments for what I wrote earlier in this message.


People think, if they sign “Terms of Use” or whatever disclaimer, they waive their rights. This is not true. When crime, violation, foul play or just negligence is in play, and there is a damage, those things are regulated by the law.
Its like the “Not responsible for broken windshields. Stay 200 feet back.” sticker on dump truck. They liable for any damage you witness.
And they are liable here as well.

Edit: I know its crypto, and there may not be direct regulations. But here we can talk about investors misguide, trust funds safety neglect, misrepresentation etc. Just out of my head.

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@psmith05 .
It is true, the ”claim all” button is gray and it’s not work. Is there anyone who has the same problem as me ?

@bgdlabs Could you help me to solve this problem? I’m looking forward to helping. Thanks a lot.

Hello @axc . Only the first distribution of 300’000 total USDC is available to claim, while the second proposed is still being voted on the Aave governance.

If passing the proposal will finish on 4th May, and then we will share the link to claim the final distribution, as it will only be activated at that moment.