ARC: Harmony Recovery

It seems pretty clear that if AAVE was showing some interest on recovering the bad debt and helping on burning deppegged asset, they could benefit from some support from harmony. Could we please organize a vote…?

A vote about what? If our idea is not enough clear, people will reject it. what is the strategy? Vote to elect a representative who will have the mission to negotiate with the Harmony team for a ONE-AAVE solution? Or vote for an Aave-Aave recovery plan ?

Thank you for getting AAVE, wish I could do it but my bags aren’t heavy enough ':D

I think we need a proposal something like so:

AAVE on Harmony Recovery Plan
AAVE protocol is to spend all of Harmony’s rOne distributions and 50% of all AAVE treasury profits coming in to buy and replace collateral put in by AAVE users into AAVE on Harmony. (mostly ONE token and any other assets that were not depegged). Once collateral is fully replaced, AAVE is to liquidate bad debt and to turn on withdrawals for lenders. Lenders will now be able to withdraw all of their ONE (and any other assets stuck). After some period of time to allow for withdrawal only (1 month sounds sufficient), AAVE can reactivate full functionality (lending and borrowing), and AAVE on Harmony will be revived.

Any feedback folks? Am I missing anything important?


Sounds like a good proposal, just missing metrics, i.e. specific numbers.

Quote! it’s perfect!

I’m in favor of this. This is far better than anything we have seen thus far. Would like a rough timeline on the start of the buybacks. This will go a long way to getting support. I may have to pick up AAVE to support this as well… although I did see two account votes totaling 100k AAVE that voted to shut down the lending and borrowing. Seems like a monopoly in votes and could become problematic in getting a resolution. I’m surprised that the locked harmony doesn’t give voting power. Would seem the people “lending” have far more vested in this issue than those holding AAVE.


Hopefully soon, we’ve been stuck in limbo for months now. Literally

FYI Recovery ONE: Burn Phase - #151 by Pioneer - Ecosystem Resources - Harmony Community Forum

any update about proposal?

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Hey there
So, could you submit a proposal, please? Adjust my rough draft the way you see fit and go for it, even if it’s rejected we’ll finally get on AAVE’s radar.

too sad that Aave dont want to make any update after several months. I want my one’s outside this protocol

What is required to move on a liquidation of the outstanding loans? Need to start doing something for the locked ONE lenders. Come’on AAVE do something.

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some progress towards repeg, I wish AAVE would participate

So what’s up with proposing a plan and organizing a vote?

There was a guy who said he had enough AAVE to add a proposal, but he disappeared since…

Anyone else has 50 AAVE lying around?

Didn’t disappeared, only waiting for the final text.

I will copy past your proposal.

Let’s go!


I hope community is ok with this. Love you all !!!


Hello, this snapshot doesn’t follow the community guidelines standards.

But as the community took a long time to organize, I won’t bother any of you with this, and if this proposal reaches quorum, if think we should consider it as a successful TEMP CHECK that can be escalated to an actual ARFC.

the ACI will abstain in this vote. but if the quorum is reached, we will support it by writing a standard ARFC.


Thank you Marc for your kindness and your time!!!


Guys, read this :“In order for a proposal to succeed, a minimum of 320k AAVE or stkAAVE must participate in the vote. Any changes to the quorum requirements must be amended by the community through an AIP.”

We will need help here… twitter, Harmony team, everybody can help. Buy Aave and vote.