ARC: Harmony Recovery

Hi, any news? There were a good dynamic unfortunately stopped right away after recovery one proposed something and then… nothing. What was the goal of it if no actions followed after?

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I’m not sure there was a goal, the only thing that was accomplished was to waste everyones time for the past two-three months, and de-rail the progress we had made so far


How about we just submit proposal and vote?


I don’t see Harmony or R1 coming through to bail us out in any rush. So there’s really only two routes that I see as being feasible at this point.

The first being, we do nothing, we sit and wait until the Harmony and R1 teams have bought back all of the other assets. at which point, the only thing left for them to buy is the AAVE debt. As long as they continue their current plan of buying back all of the bad debt it will just be a matter of time. (This is the first route.)

The other route is we submit a proposal for AAVE to either deposit the liquidity for us to withdrawal. (Based off the assumption, Harmony and R1 will eventually buy the debt from them instead of us.)

Or instead of depositing liquidity, they could create an exchange for aONE to AAVE, and the aONE holders would become AAVE holders, the only question with this decision would be which blockchain the exchange would take place on, and if not on Harmony, how will we bridge our assets off, and if on Harmony, how would they bridge their AAVE on. (Again, based off the assumption, Harmony and R1 will eventually buy the debt from them instead of us.)

With the second route we will need AAVE community approval, and honestly I’m not seeing as much support or interest as I was seeing months ago before we were derailed, but if the community was behind the idea, and we had someone with enough AAVE to start a vote, we might finally become liquid again, and or become AAVE holders instead of aOne holders. (At this point I think I might rather be an AAVE holder based ot the lack of support Harmony has shown us.)