AutoFarm Proposal: Collaboration with Venus

Venus Governance Draft Proposals
22

** With this increase in TVL, Venus platform is estimated to receive nett earnings of ~$206,613 daily and ~$75.4m in a year.

???

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23

Sounds like a lot of people that lost money in auto farm are posting on this. Wasnā€™t it announced to auto farm way in advance? The cascade liquidation wasnā€™t announced before hand. Whereā€™s the compensation for those people? Can funds be used to compensate both groups?

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24

Venus has announced in advance why it needs Venus to compensate for losses, which is clearly caused by autofarmā€™s failure to carefully understand the market

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25

If the compensation fund comes from the Treasury, which infringes the interests of xvs holders, how to compensate xvs holders? Can autofarm compensate xvs holders

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26

Why do so many newcomers speak? Are they all autofarm users? This infringes on the xvs holders

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27

This is not a compensation, it is proposal on collaboration with Autofarm. There is no additional cost to Venus & its treasury (and thus doesnt infringe on the interest of xvs holders). Furthermore, the addition of Venus vaults back onto Autofarm platform would bring about TVL increase & be a longer and sustainable revenue/profit generation for the Venus platform (thereby benefiting the project & XVS token holders).

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28

  1. compensation, refund, call it how ever you like, itā€™s still the same: you guy messed up and asking for money back. And the math you provide doesnā€™t add up, and itā€™s misleading about the tvl because your previous numbers is when the market at ATH ( itā€™s about 1/2 - 2/3 of that now)

  2. Iā€™m not against this as this will bring tvl to venus protocol and supports between projects is a good thing. But why consider this proposal (at autofarmā€™s fault) over compensating to us Venus investors (liquidated or not, we are all affected from the shortfall of the protocol)? This is the questions to the new team, not autofarm.

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29

If you want to pay for autoā€™s low-level errors, venus becomes as stupid as auto. There is no need to discuss this matter. Watch the auto supporters perform as they please. I believe that in the end, make a choice with the truth of the matter with reason and calmness. If not, there is no need to support and choose venus.

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30

Before charging, Venus told the market many times that it was a mistake caused by the disregard and irresponsibility of cars. Cooperation is mutual. Venus does not need to pay for the stupidity of cars. We believe that our Venus community will become stronger and stronger! Itā€™s a shameless act to let the water army of the car continue his performance!

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31

The loss was caused by autoā€™s low-level error. Venus made a two-week announcement when it changed the withdrawal fee. If auto wants to restore the userā€™s loss, it should come up with a more sincere plan instead of misleading and ethical Kidnapping, and venus community users do not agree with such a stupid solutionļ¼ļ¼

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32

Every lesson in trading is expensive, and itā€™s time to grow up. Venus already made annoucement and Autofarm failed to response promptly. Thereā€™s no reason to ask for refund. Letā€™s make it crystal clear

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33

Thatā€™s a total nonsense proposal. Most of the numbers in the proposal is not correct. And itā€™s nonsense that Venus pays for autofarmā€™s own fault.

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34

If one day I make a mistake and cause losses to my users, I will bear my own mistake instead of transferring responsibility. All discussions have a basis, the basis here is: Auto made a mistake. If this point needs to be denied, then there is no need for discussion. Of course, there is no need to discuss this matter itself, but Auto has been confusing.

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35

Is this stupid scheme used by autofarm to defraud money?
Autofarm must also be responsible for the loss of 9 million.
At that time, an announcement had already been made.
Autofarm has its own responsibilities
This cost should not be borne by Venus.
I strongly oppose it!
Actor outļ¼

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36

O wow beefy fanb01s have entered the chat!!

Beefy doesnt want us to get our money back :slight_smile: they can only grow by fudding others since they are so inferior :slight_smile:

This feud between beefy and autofarm starts to hurt my eyes.

@Danny is there nothing you can do to make this a healthy discussion? Beefy fanbois are now making me not getting my money back. Thanks

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37

The loss was caused by autoā€™s low-level error. Venus made a two-week announcement when it changed the withdrawal fee. If auto wants to restore the userā€™s loss, it should come up with a more sincere plan instead of misleading and ethical Kidnapping, and venus community users do not agree with such a stupid solutionļ¼ļ¼

3 Likes
38

Well I think its a good negotiation done by the new Team. These funds are not ours from the beginning and Joselito promised to give them back for free. Now we can keep our word and get some benefits on top of it.

I think we need the various YO to come back on Venus to increase our TVL and to expand further (not only Autofarm btw).

From my calculation the figures stated means that we need at least 2M$ in lending/borrowing from Autofarm which is very likely to happen if they put a decent Auto reward on our vaults.

Downside is we will get a small sell pressure on XVS token (but fees are low so it should stay small) and that could be easily compensated by the gains. Team could use the fees collected to do buyback & burn on the market ?

6 Likes
39

Wow, is this what we as Venus community have become?

  1. Yes I agree that there were mistakes being made by autofarm.

  2. These led to not-intended transfers of user-funds to Venus treasury.

I personally cannot see why this is any different then a user sending funds to the wrong address or a project locking user-funds by accident. Itā€™s a mistake, an error, a bugā€¦ to use that to our advantage is exploiting the bug, error, mistake!

For me it is that simple.

I donā€™t want our venus community to exploit mistakes of other projects.

Yes I want to be compensated for liquidation-incident, but I am not desperate enough to take it from other DeFi users.

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40

The liquidation incident could also not be covered at all by the Autofarm amount.

While it could be done progressively by the fees collected from new vaults.

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41

How stupid is the logic of asking Venus to pay for the mistakes made by the autofarm

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