Please admit one thing: Venus’ upgrade is announced in advance and publicly. As long as Autofarm adjusts its strategy, there is no need for users to suffer losses. In this case, Autofarm should bear all the losses.
请承认一点：Venus的升级是提前预告，且公开的。Autofarm只要调整策略，本来无需让用户遭遇损失，既然如此，该损失应该全部由Autofarm承担。
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I agree… Please re-control again…
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- Positive steps were taken on the background during the 4 months & Joselito and the previous Venus team have actually promised a full refund of the assets to all users who were affected
- The community proposal was approved by the Venus team to be posted on the governance forum (https://twitter.com/autofarmnetwork/status/1432710724648898570?s=21). Tweet announcement was retweeted by Venus’s & Danny’s twitter account & was carefully discussed before Autofarm was given permission post on the forum.
- There is no additional cost for Venus protocol & treasury by agreeing to this proposal and collaboration with Autofarm.
- Additional Venus vaults as mentioned in the proposal is profitable for Venus Protocol rather than Autofarm given the discounted fees that will be charged on those vaults. These new vaults will bring in TVL, revenue, volume & profits to Venus Protocol.
- We have not hidden anything from our users.
Collaboration would only make the entire BSC ecosystem stronger and better. And its a prime opportunity for Venus to lead the way in showing how collaboration & building amicable relationships amongst projects can be done in BSC.
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I think for the betterment of everyone, we shouldn’t allow the end users to suffer a loss. And also, venus will gain big from autofarm as many are just waiting on sidelines to just pour in their money in venus via autofarm.
Autofarm is a billion dollar TVL dapp and it can bring wonders to venus, probably go back to 10bn TVL for venus. If we want to reach that goal, I think we can take this small loss and move on fresh with no baggages.
New users will carry no baggages as well and venus will have a great positive impact!! My vote is to compensate the users and move on!
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They make empty promises in any way
If they were serious, they would have opened a new XVS Vault already.
Don’t trust these guys
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You do your part then demand from Venus
My offer is above, I think you should take it seriously or don’t make wrong decisions like in the past.
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They should open a new xvs vault first to show they seriousness
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I agree with whole statement
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I agree to all…
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Estoy de acuerdo !!+ 100
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Görüşünüze aynen Katılıyorum.
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Old team did promised a lot to the Venus community as well… VRT usecases… new team is killing it… soo i dont see why the new team would followed " the mistakes assumed from last team", im talking about nft, vrt and yes autofarm funds returned… I dont agree at all… this will benefict Venus… as stated above if you really wanna help and increve TVL you would had opened the vaults long time ago…
Venus can refund all the tokens to AUTO sure… as long Auto pays for their mistake…
Its funny Joselito said it will compensate who got liquidated and who lost money at the Venus attack…the same way Joselito said it would compensate AUTO incident… soo why this is coming here at Venus since Joselito isnt here? Why dont Venus and AUTO go ask for Joselito honor is word and pay… since Swipe is doing pretty well they can pay … not Venus …If there is someone to ask for the money that person is Joselito… sadly im still shocked the way he left Venus … knowing he is part of Binance… i do agree with you offer as well… auto can pay in auto as can split the damage they cause to their community…
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İ agree with @NoOneVII. But if we want to grow at this ecosystem, venus will put up with this loss and also autofarm will put up. The proposal may be like that if autofarm stay with 250 million dolar at protocol nearly 45 days, venus will give 2,5 million dolar. And after autofarm will bring another quarter billion and venus give 2,5 million dolar. We dont want to loose big user and autofarm also doesnt want to loose big profit
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Çok güzel yazmışsın kardeşim.
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I agree with your ideas. And the whole Turkish community thinks like me. if autofarm is serious it should show it. The Venus team is a serious team and has no time for children!
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Wow, this proposal from Autofarm is actually funny. They lost money, then shut down all venus vaults (instead of rectifying their contracts) for a couple months, and now come back with offer to reinstate if the losses are paid back by Venus. Just to clarify, not all of the fees in the treasury are from Autofarm, and a lot of those fees were collected from venus users and other yield optimizers operating on Venus like belt, acryptos, etc… A significant chunk of the treasury funds have already been used to buyback by the previous team, so for Auto to lay claim on the remaining treasury money is just silly.
On the we will build venus vaults and bring TVL to Venus offer: I call BS
Autofarm is already offering most Venus vaults indirectly through Belt vaults. That is, they are yield optimizing another yield optimizer to offer indirect access to venus vaults (if you look at Belt’s strategies, it will all make sense). They don’t even have $1B on Belt vaults, and if they launch venus vaults then some of that money from belt vaults might switch to venus vaults, but the net effect on Venus protocol will be the same regardless of whether autofarm launches venus vaults or not. For any venus user considering this as a pro, I’ve debunked it for you
I’m surprised how people still trust Autofarm with their money when they failed to keep user funds safe on a well-announced fee. There are plenty of yield optimizers on BSC and elsewhere who take security more seriously.
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Adding on to the above, the fee structure on the venus vaults does not offer any negotiating power to auto because how much they charge their users on Venus vaults has nothing to do with venus users. Again, they are trying to present arguments that seem good for the venus community, but in reality they have no effect
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I am curious, On what grounds are you guys asking Venus to return their legitimately generated fees, as a consequence of 1bp fee parameter?
Only scenario where Venus would be obliged to make a party whole would be in case of a protocol bug. Which isn’t the case…
The above case is result of Autofarm not taking timely action to update their strategies despite being notified by Venus. (Feel free to post proof if that’s not the case). It is not as if 1bp fees was
introduced without proper governance or without notifying to the public about it.
Defire people had made a mistake in code execution and thus resulted in locked funds. Those funds were rightly theirs. There was no income generated by them for venus… That is not the scenario with Autofarm.
There needs to be a distinction made between Returning locked funds vs asking to return legitimately generated fees.…
What if people start claiming that they too missed the notification during that period and want a refund on fees they paid to venus? How’s their case any less legitimate than Auto’s if Venus were to go through with this proposal?
This is more of a case laziness and apathy by Autofarm team, which could have been prevented had they just halted /updated their strategies in time.
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I understand the reasons of those whom oppose to it, but I think that the best projects of the BSC must work together for the good of the whole ecosystem for better or for worse.
I think this is a good proposal for both Venus and Autofarm.
I am here before many of you and I remember very well when Team Bunny came to Beefy’s aid for a mistake in their contract with significant potential losses for their users.
Many other alternative chains are emerging and we could lose our competitiveness if we let ourselves be taken by individualisms.
I am a big holder of XVS and I will personally vote in favor of this proposal asap it will be available.
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