Yes totally agree. The whole DeFi world is an ecosystem where everyone is dependent on each other and only with the players working together and support each other will ensure the sustainable growth of DeFi.
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@Danny @NoOneVII can someone please unhide this?
Maybe donāt allow flagging in here if that is possible
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I think autofarm can perform this step first
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I guess nobody would deposit in these new vaults if this topic is not solved peacefully first.
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There is no manipulation.
They used to have ~400M in Venus vault. And the money moved to other single vault.
If you make the Venus vault more attractive on autofarm than other single, the money will move back there.
So you get 400M in autofarm vault. Then autofarm use leverage x3 time. That gets you at around 1B of increased TVL for Venus.
Itās insane how most people donāt even bother to understand what this proposal is doing.
You guys prefer to blame each other more than both project making more moneyā¦
If Venus comes comes back to autofarm, thatās a possible 1B in TVL increased, and the money will be back in the treasury in no time by the end of the year.
Does anything else really matter?
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I think there is a reason why Venus hasnāt used the funds sitting in the treasury since the event until now. Itās very clear that the way these funds get there wasnāt exactly legit, if not we wouldnāt be having this discussion right now.
I know Venus has been through a lot, but I really donāt understand how this discussion was dragged on for more than 4 months. Should have been refunded at the moment the accident happened. Now we are discussing if Autofarm writes good or bad contracts, but in the meantime, we users have been held hostage. Itās not the legitimate fee of 0.1% that was charged to us (that i happily pay) it was a lot more, so donāt tell me thatās fair.
Is not Binance stepping in to help us with the XVS issue? Why can Venus help the users that lost money due to a coding mishappen? Why punish the end-user in this dispute?
AF can maybe pay with fees but that could take years, and will be paid with fees from another innocent user that itās not involved in this issue at all. The money wasnāt taken by a stranger, the bad strat got that money in Venus treasury, so why is so hard to return it to their legitimate users?
I just donāt understand how selfish people can be that they are willing to take peopleās savings in order to grow themselves 
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Sorry, I donāt want to hurt your feelings, but your last sentence kind of amuses meā¦
I just donāt understand how selfish people can be that they are willing to take peopleās savings in order to grow themselves
Isnāt that the exact reason we are all in the Defi sector?
To grow our savings?
And if that is true: Are you really believing that one can grow savings without some guy / gal loosing money?
Whenever there is somebody buying high selling low, there is somebody profiting and the other way around.
So yes: Venus holders will be āselfishā about the money in āourā treasury, because Autofarm had been informed and they just did nothingā¦
And trying to trick the venus community with this made up numbers in the proposal is just killing it.
It is Autofarms solely responsibilityā¦
I would be glad to help, but I donāt see why you dare to say it was not legitā¦
It was perfectly legit and other sites noticed the fee and acted accordinglyā¦
Yes I am insane and looks like you have a full understanding of the proposal. This is the direct quote from Autofarmās proposal:
" * Bring about ~$800m to $1b in TVL increase to Venus platform as per the previous numbers when Venus vaults were still available on Autofarm. This will result in ~20.84% increase in Venusā TVL. With this increase in TVL, Venus platform is estimated to receive nett earnings of ~$206,613 daily and ~$75.4m in a year."
Can you educate me how the calculation works - $1b TVL ā $75.4m net earning in a year.
Venusās current TVL is at ~$4b, does it mean we are earning $75.4*4=$300m per year? If you believe their calculation is correct then you should buy XVS. If you think their calculation is incorrect then please ask yourself - why did Autofarm post a proposal here with wrong figures? What is their intention? Does this do any good for ācollaborationā?
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So several thing:
-
I never called anyone insane. I said it was insane that people didnāt even try to understand the proposal.
If i say, itās crazy how many people die on the road each day, it doesnāt mean that driver or pedestrians are crazy, is it? -
my reply is in context of what Marco was saying. Saying that autofarm only have 400M in single assets and total tvl of 1 billion and therefore are lying about the ability to bring a billion tvl.
Thatās just not how both platform works. Autofarm did bring between 800M to 1B in tvl before, and the chance they can bring a that back is very possible with this proposal. -
autofarm didnāt say that it was bringing 200k a day. It says that the with the increase tvl, the total net of Venus will be 200k/day. Hence 40k from the 1B tvl added.
ā With this increase in TVL, Venus platform is estimated to receive nett earnings of ~$206,613 daily and ~$75.4m in a year.ā
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In this proposal we will have:
- New designed Venus vaults with 2.9% performance fee only on YO AutoFarm compared to 15.3% performance fee on YO ACryptoS (being the only YO left on Venus).
- Venus TVL should increase by 25% due to AutoFarm leveraged strategy.
- Venus TVL should increase by ~$1B with the AutoFarm optimised single staking vaults.
- With this increase in TVL, Venus platform is estimated to receive net earnings of ~$206,613 daily and ~$75.4m in a year.
Having 2.9% performance fee on the new Venus vaults, compared to the regular 3.4% BSC performance fee, on top of $AUTO-APY-boost are key among all other current AutoFarm single staking vaults.
Proposal is:
- refund AutoFarm users from funds in Venus treasury - about $10M
- Venus gets very competitive newly design single vaults on Autofarm that should increase Venus TVL by ~$800M/$1B and would generate around ~$75M a year
#DoTheMath
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Okay so they are saying with $5b TVL ($4b current TVL + $1b potentially from Autofarm) brings ~$75.4m in a year. I am really interested to know how they come up with this figure, and since you understand their proposal quite well, can you shed us some light? FYR, current Treasury is at $16m.
Youāre misunderstanding revenue and profit.
Autofarm will bring extra revenue, it is on Venus to decide how they spend them. If they decided to spend 100% of the extra revenue, then the profit would be 0. If they spent 0%, then you got 100% profit. The treasury has nothing to do with the revenue.
See what I am talking about when I say it is crazy?
All these questions should have been asked first, in a calm matter, to trying to understand the proposal. Instead, people are right away accusing Autofarm to be a liar and trying to deceive peopleā¦
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See what I am talking about when I say it is crazy?
All these questions should have been asked first, in a calm matter, to trying to understand the proposal. Instead, people are right away accusing Autofarm to be a liar and trying to deceive peopleā¦
Well this is defi mateā¦
Every minute you take to explain things like you would explain them to a little child is a well invested minute.
And if you take time on top and explain the math behind the proposal to let people do their own research you wonāt have to live to a shitstorm like thatā¦
But please face it: A proposal that leaves so many questions open is no good proposal.
I donāt know why you bring up revenue and profit. Just focus on what is written in Autofarmās proposal please. They are saying $75.4m NET EARNINGS in a year.
Have you heard of AAVE? Do you know how many interest income are they making in a year and how big is their TVL? Please educate me. how could they come up with $75.4m NET EARNINGS in a year with $5bil TVL.
Are you asking Autofarm to know what Venus is going to do with the money? How can they even know?
They know how much money they will bring. How it is going to be spent is only known by Venus itself.
We will use that treasury to burn xvs not to cover your own fault
Acryptos didnāt lost anything at withdraw fee upgrade
That is not what sszs was asking.
The question is concerning the math behind that net profit that Autofarm is claiming to bring.
It is not realistic at all.
But why isnāt realistic?
I cannot find anywhere how much revenue has Venus, so Iām gonna take the number given here and see if itās unrealistic.
With 5billion tvl, this proposal claim Venus will make 76M/yr. 76M/5000M = 0.015
That result in 1.5% revenue from the amount invested in Venus.
1.5% of revenue from TVL doesnāt seems that high or unrealistic at all to me.
So 1B from autofarm, result in ~15M/yr and ~40k a day.
If nobody buys XVS, price will continue to decrease overtime.
Burning doesnt provide value. Itās a smokescreen.
We require more tvl and more consumers.
If we sell our treasury, we will misplace consumers and get a very bad reputation : "people delegating to Venus vaults on yield optimizers are still Venus users. Are we the first community which dumps their own members ?"
Lets beg more to Autofarm or arrange penality lines.
I demand for an Auto lend/borrow vault. I have no idea how many tokens can be provided by Autofarm but it will provide direct TVL. Auto holders wouldnt dump themselves. Until we get at least 75,4m$ of revenues, Autofarm will have to let their supply deposit
If they dont provide the revenues in less than a year, we could take 10% of the team deposit every month.
If they provide more than 75,4 m$ in 7 months, they will be allowed to withdraw the supply deposit.
Fair enough ?
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