Hi Everyone, Brandon from the Fragments team here.
I’m writing to echo Naguib’s comment that the Fragments development team is behind BGDLabs in taking the lead on finding a resolution. The Ampleforth Foundation has pledged to cover 40% of what BGDLabs deems appropriate for this initial distribution.
Fragments can help technically with the distribution to geyser users, and if we can’t get those users included in this first distribution, we’ll ensure they’re covered in a follow up distribution.
Hello Brandon, thank you for your response.
I quote MarcZeller’s response: Let’s fix this and move on.
But in a compensation that everyone can agree with. I think I speak for several that 40% is not enough and fair,
Paulus, they mean 60% from Aave and 40% from Ampl, of the total amount. Its up to them how to figure that out and spread % between them, most important for investors, - what the total amount will be
I have no dog in this fight, I am more or less observing. I hope that the aAmpl Aave lenders can be made whole, eventually.
One thing that I am struggling with, is all of the hostility towards the AMPL / Fragments dev team.
Scrolling through this thread, I see they have been very cooperative. Am I missing something?
Hi @brandon @Naguib @bgdlabs @ChaosLabs @stani @evankuo
I am an Aave user who deposited AMPL during 2021. I am stuck now, I can’t withdraw my AMPL - the problem you are all aware of and what’s being discussed in the thread here.
Technology is not perfect, I understand that. But there was a certain level of trust that I chose AMPL and deposited that on Aave. Now. all the solutions that’s being proposed here in this thread basically SCREW me and my investment.
From the time of my AMPL deposit on Aave, the AMPL supply has more than doubled. So independent of whatever happened on Aave (i.e. ignoring all the interests that I should have earned), I should at least be getting 2x AMPL that I deposited on Aave. The proposal so far are compensating me at 20%-30% of what I deposited on Aave.
This is a tough situation for everyone, I understand. I recognize that you all are trying hard to help users and I appreciate that and that reinforces the belief in Aave and Ampleforth team.
Though, what I sincerely request is to make the impacted users WHOLE. Please don’t screw us - this is our life’s hard earned money and we placed very high trust in both AMPL and Aave. I could have put that money in another respectable project and could have gained far more returns but I really believed in the promise of Ampleforth, the team and also the Aave - the bedrock of DeFi and I just request you all to please make me whole and return what I truly deserve as opposed to a consolation compensation.
Earlier today, proposal 72 has been executed, enabling for taking a precise snapshot of aAMPL balances in order to proceed with the 300’000 USDC interim distribution.
As a follow-up, in the following hours we will submit a governance proposal to activate the initial USDC distribution, via the Merkl platform, previously used on other proposals like Merit of ACI.
This distribution have been defined the following way, with the help of @ChaosLabs and the Ampleforth team (for ubaAMPL holders):
It will be 10.17% of our assets for now (1 AMPL = 1.198).
Should users pay for gas to withdraw it, or it will be airdropped? If second, I dont know why not just wait to do final calculations and send all amount at once, to not pay two times for gas, it would save lot of money.
The platform used for the distribution is Merkl, on which the user needs to claim its distribution once available. Mind that the Aave DAO has no mechanism to directly transfer funds to users, so in any type of distribution claiming the funds would be needed.
In order to minimise the gas impact on users, thats why accounts with claims below $30 will be included in the follow up distribution, given that we estimate claiming cost to be in order of $10, depending on gas price. This gas should be lower than would have been a withdrawal of AMPL from the Aave pool.
And to clarify, this distribution has not been calculated as a percentage of the final, this is just an interim amount that will be discounted from the final, as it is clear that $300’000 will be lower than the total.
As we commented on previous posts, the current total supply of aAMPL doesn’t represent the correct claim of AMPL in any scenario.
Dear bgdlabs, thanks for the response. And referring to the last line in your response the following. This has indeed been indicated several times, but I think everyone is very curious about the final calculation. And I hope that it is made as fair as possible. And there may be a known timeline for when it will become available and when the final calculation will be ready.
Hello @Paulus. In parallel with preparing the initial interim distribution, we have been progressing in the work with the other service provider of the DAO (@ChaosLabs) to have a model for the final distribution as fair as possible.
We are confident to have it ready to present in this forum and escalate to governance procedures during next week.
Can we be informed what calculation algorithms you plan to use? There are several options for what can be used, and depending on the observation angle, each of them in one way or another can be called fair
The algorithm to be used is what we are finishing working on, and will be shared when ready, together with its rationale and the output numbers.
The Aave proposal initiating the interim distribution of 300’000 USDC to aAMPL holders have been approved and executed by governance, and funds can be claimed on the Merkl platform.
To do the claim, it is necessary to go to https://app.merkl.xyz/campaigns?campaignTypes=4, connect the eligible wallet, and submit a transaction via the Claim all button. It is also possible to verify the claimable amount under the “Aave - aAMPL USDC Distribution” Merkl campaign.
This distribution has no duration constraint: it will possible to claim funds at any point from now on.
As a follow-up of the previous messages, the target is still this week to propose a model for the next and final distribution.
I cant click claim all, as button is grey.
Also when I’m pushing on aAmpl USDC, it is just empty website. Tried from all browsers and devices, turned off all addblockers and protection - doesnt display anything. I also tried to open Merkl main page, wrote there aAmpl USDC, and it cant find it, not displaying there.
I am also having the issue with the “claim all” button being disabled.
Possibly they didnt activate it, as status should be - Live. And its written - Done, like it is finished already, but from their message it should stay Live without any time limits. So lets wait when they will activate it, maybe forgot to do it
Seems they forgot about Mooniswap aAmpl liquidity and calculated only ubaAmpl, You should ask them to include you in final distribution. For now, just withdraw your liquidity from this exchange, so your aAmpls can be displayed on your wallet
The Mooniswap contract itself has a claimable amount, and a rescueFunds() functions that the owner of that contract can use to claim and forward them to each LP there.
We will try to contact the team behind Mooniswap for it, but we also recommend for holders of LP tokens to do it.
Regarding the problems on the Merkl interface, we have contacted the team of the platform to check if there is any problem, but the funds should be claimable.
For direct support, it should be done via the Merkle (Angle) Discord, under the #create-ticket channel.
It is important to double-check that the connected wallet on the interface is the correct one with a claim.
thanks, the link works for me.
looking forward to the sequel :)
