I propose that the community organizes a grant around this topic. For example, a potential idea would be forwarding 5% of the recovered funds to the devs that will implement the feature.
5 Likes
Hi Emilio, yes i agree, can it be automatically deducted?
Yes itās possible, but really depends on the way the functionality would be implemented
I propose that the community organizes a grant around this topic. For example, a potential idea would be forwarding 5% of the recovered funds to the devs that will implement the feature.
Actually what could be even done is that part of the reward could be forwarded governance treasury collector address for the community to decide on funding grants and other initiatives since the community has been active and helping out to support the proposal 0x464C71f6c2F760DdA6093dCB91C24c39e5d6e18c
and the on-chain proposal deployer could have a deployment fee as well as an incentive.
Docs for who ever wants start this initiative Voting & Governance - Developers
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Alright so this issue took place in November. Itās about to be February and there has been no updates or real response. I have almost $10,000 originally invested in AAVEā¦Iām sure itās well over that now. Can those of use who believed in the coin before it exploded get some type of help?
Iāve learned to use the Uniswap merkle distributor and generated merkle trees for the lost tokens.
Once we figure out how weāre going to go about getting the funds out with an upgrade through governance, weāll get the tokens back.
Hang in there! Weāll save every token overnight!
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Iāve done the same thing by sending BUSD to the smart contract address in error. When we correct this Iām assuming it will return all tokens deposited to Aave smart contract addresses, not just Aave tokens right? obviously a dumb error on my part.
How about a 1-5% penalty to fund these ressources. And to incentivise to be extra-careful.
As someone who incorrectly deposited USDC into the Aave: Lending Pool V2, I also think it is fair to pay a fee to recover funds lost via an erroneous deposit. Such a Recovery Fee would be similar to a āStop Payment Feeā or āLocked Deposit Bagā fee that a bank charges to one of its clients. I appreciate the teamās work to resolve this issue for so many of us.
cheers,
geoff
2 Likes
Actually in the real world if you were to mess up; for instance buying the wrong transmission/gear box for an automobile, you would be lucky to get away with a 15% restocking fee. Letās be realā no matter which instance this happened in, every instance/mishap is unique, requiring dedicated time for research and retrievalā¦
I say a 10-15% restoration fee seems fitting IMO.
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I wanted to send my tokens from eidoo to another etherwallet because i wanted to swap my ethlend tokens to aave but i mistakenly sent āethland tokenā to a wrong adress ( your own token adress) you know the adress which i send is :
0x80fb784b7ed66730e8b1dbd9820afd29931aab03
My eidoo eth wallet adress 0x389a0d25495d1f7791fbc264788ac32dd4c89114
Need your help please
The refund must be made because the AAVE token administrators are the ones who own all the tokens that were sent to the AAVE contract by mistake.
Charge a commission for ransom, but return what was sent minus the commission and thatās it.
It has been more than 3 months since this happened.
Whatever the community determines that a recovery fee should be would be fine with me. While I follow your restocking fee example, I think we should look at the fees traditional financial institutions charge to come up with something that could be applied by AAVE.
Below, I perform a quick Asset Rescue Mission Fee Analysis denominated in USD based on typical industry fees I compiled from here among other websites. We could denominate these fees in AAVE, and could require payment of the fee be made in AAVE. [I used a spot price of US$402 to calculate the AAVE equivalent].
Asset Rescue Mission Fee Analysis
$25 (0.062 AAVE) Investigation Fee (for the team to initiate a asset rescue mission)
$35 (0.087 AAVE) Stop Payment Fee (for the team to identify the asset)
$75 (0.186 AAVE) Asset Release Processing Fee (for the team to return the asset)
-----------------------------------------------------------
$135 (0.335 AAVE) Total Asset Rescue Mission Fee
Traditional financial institutions charge flat fees for administrative work, which in the final analysis is what the Asset Rescue Mission is. In my case, paying US$135 for a US$1,000 erroneous deposit of USDC would equate to 13.5%, which would sting, but is manageable. However, those who made a smaller erroneous deposit would find the flat fees usurious.
Since the flat fees traditional financial institutions charge tend to discriminate against smaller clients, a %-based Asset Rescue Mission Fee would be more egalitarian.
Therefore, I suggest AAVE implement an Asset Rescue Mission Fee that equals 10% of the value of the lost asset. 10% would be painful enough to teach the depositor to be more careful, while 15% when coupled with the fees to engage in DeFi could discourage oneās continued use/exploration of DeFi.
cheers,
geoff
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Hey @Zer0dot. Any update on how itās going with the rescue mission?
Cheers Nathane
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I agree to the charging of a fee, but return the AAVE tokens
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I would like to know the same too
Working on it folks! Itās going to take some time, but it will happen.
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If you do this, this must become āa standard offering from AAVE.ā
Once you make an exception, it becomes the rule. In that vien, we either need to define the full outline of what this looks like an add it as a standard AAVE offering or donāt break precedent. If you break precedent, the fee needs to have defined parameters:
10% of coin or $1000 , whichever is greater (or whatever numbers make sense). You need the second number not related to the amount of coin because 10% of coin could be more than the gas to get it if it is $1.
And letās be real, people in this space are only going to get greener and make more mistakes than everyone here now. If there arenāt strict guidelines set, the number of proposals similar to this will become like whack a mole.
Iāll say this because you need to hear it. You should be thankful this is being considered instead of behaving like a petulant child.
This isnāt āa clear problem and issueā with the protocol. You state that this affects you for a significant sum of money. So YOU sent a significant amount of money to an address YOU did not check to make sure was accurate. YOU paid the transaction fee to do so. But now THEY are the ones with a problem? The protocol doesnāt have a problem or an issue. YOU do.
I hope as you mature you learn the importance of accountability for your actions.
1 Like
Doesnāt it make sense to code into the smart contract to kick funds back automatically if theyāre sent to a smart contract? Rather than playing whack a mole forever