AutoFarm Proposal: Collaboration with Venus

If it goes to SIP, as i expect it to be, we should vote for it. I have 3k+ XVS (earned by staking my SXP bag on Binance last year).

We need to do what is fair ($11M were not deserved and is BSC users funds). Autofarm seems to do its best to solve this and to BUIDL with Venus in an unmet magnitude.

I will vote for YES. I expect XVS holders to understand the rational of the proposal and give back the money to users, and BUIDL with BSC biggest YO so Venus remains KING!

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Good answer ! Vote Yes to this collab’

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Bonjour,

Some of you know me as a French Mod who operates & help different communities.
I would like to begin my 1rst message with an acknowledgement to the new Venus Team, you do an awesome job !

Like a part of Venus users, I delegated my assets to yield optimizers. Depending on your strategy, it can be interesting or not. Some projects beg permissions and others don’t. At the end, it’s an ethical problem when an event occures.

I’m a Venus user and Xvs holder so I will briefly share my feelings on this topic.

It’s a proposal posted with the agreement of Venus team. It shows the mature mindset of both teams which negociated during 4 months to find out a solution.

The current proposal is submited to us and to pay our attention on a potential VIP.
Both parties are reading our feedbacks and could modify the current offer. It’s certainly the best way to meet a consensus for all of Venus users.
I point out “Venus users” because some profiles here are certainly not concerned by this proposal. Trollers are everywhere. Please take your time to read constructives comments. Figures are trustable. If not, a Venus Official Representative would have replied with the correct ones. They are professionals.

This proposal is interesting and should be considered as a strong opportunity for Venus. Our current business model depends on the liquidity available (supply-borrow) and the utilities of our tokens (XVS, VAI, VRT, Venus NFT). Our growth will depend on our capacity to attract more and more consumers.

I read different comments forecasting on +70m$ per year for Venus . I would not state this proposal as a duty to Venus - with additionnal fees if they are not paid on time. The withdrawing of those tokens locked in our Treasury wont impact our price value. They are not deposited on any LP or supplied in our vaults. But those tokens can impact on our reputation.
Those people concerned by Autofarm were/are Venus users too. We cannot afford to say “no” after 4 months of negociation.

I believe we can afford to accept their proposal and create a strong partnership with Autofarm.

I invite all users to vote YES.

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I would like more utility for VAI, VRT, NFT and XVS.

@Autofarm
Are you able to help us ?

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Thank you for this honest proposal, suggesting something concrete. I would vote definitely Yes !

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Wow, just read the proposal for DeFireX :heart:, that is exactly what I expect from Venus Team!

Also in my opinion, you can exchange DeFireX with Autofarm, and it matches exactly this case!
For anyone nitpicking “…through legitimate protocol usage fees…”:

  1. Yes the mechanism through which autofarm user funds ended in treasury was a fee
  2. No, that was not how it was meant to work, not by venus when designing the fees, and not by autofarm when designing the contract.

I love the clear standpoint from the Venus Team :heart:

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Unfotunately this is not the case, it seems like there’s a lot of opposition to this proposal coming from Venus hodlers who believe the treasury funds are theirs, which is obviously not the case.

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I strongly support the AutoFarm proposal.

I was invested in both Venus and AutoFarm.
7 ETH of mine were erroneously transferred to the Venus vault.

I believe this is a business decision between two entities who are part of the same community. It is an important decision for the people. It is an indicator of trust and ethics.

The emotional finger pointing is not constructive.

I guarantee that there are big investors sitting on the sidelines waiting for this to be resolved. I hope the two teams find common ground.

We should share the same vision: to help our users, work together and behave ethically.
The byproduct is greater prosperity for both projects.

The AutoFarm proposal is logical and well thought through. I vote yes.

Let’s do what’s best for the ecosystem.

Let’s move forward together.

Let’s do what’s right.

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As Autofarm users and Venus users are mostly the same, I think this is a good strategic option to accept this proposal.
BSC needs strong and trust actors like autofarm and Venus.
This will be the best for users and best for Venus too to apply this proposal.

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This is an excellent proposal. Although this was the fault of Autofarm I think this is the correct decision to reimburse their users. This will only help to boost the BSC ecosystem and improve trust between these two great defi protocols.

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Yes, definitely yes!

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When will Vensus be able to implement this proposal?

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Doesn’t sound like we will do that at all, if I have followed this topic correctly

What’s the next step ?

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Yes, I would love so

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19 days :slight_smile: its coming!

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Agreed. Still the emphasis is mostly positive I’d say apart from some fudders. Also the venus community is rather split up I think looking at the current situation, so its not about who screams the loudest :slight_smile: we will see at the vote I guess

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@Autofarm

Not sure I’ve ever read a more 1-sided proposal and I agree with @NoOneVII wholeheartedly.

There is a massive difference between recovering stuck funds and what essentially amounts to “sellers remorse”.

Look, no one disagrees that your glitch resulted in Venus getting a bunch more in fees than it should have got, however your proposal doesn’t even take into account that if you had coded for this change correctly then Venus would have had legitimately earned fees as well!

Come back to the table with a proposal that meets in the middle. For example giving Venus some Auto in a contract that vests so that it could be sold into the market slowly. Maybe even a proposal to have Auto listed as an asset on Venus? As it stands Venus pays 97.5% of the compensation, and the other 2.5% is coming from SAFU fund.

With a proposal that shares the pain equally you will find support from a great deal of holders.

Peace.

*Edit: Maybe even a proposal to swap some Auto for XVS - a chunk of the 3m that is being liquidated by Binance currently? We can both agree not to sell those coins, by smart contract if necessary. You can use those coins to participate in governance which would be welcomed by all.

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Venus is building its reputation and everyone is watching.

Happy Moon Festival to all Venus users.

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As a BCS user. Trust is very important for the community and ecosystem to grow. Without helping lost funds and keeping it and not refunding will not help Venus nor Auto, so I support this proposition.

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