Let’s make the conclusion first. Auto is playing tricks on us.
They don’t want to bear the losses caused to users due to their own mistakes, so they need to transfer the responsibility to Venus to transfer their users’ anger and save money that should have been paid to everyone.
Why should Auto take full responsibility for the incident?
Because Venus released a very clear upgrade notice a week before the upgrade, most users in the Venus community know this. As a core user of Venus, Autofarm is completely ignorant of this matter. It has neither notified its users nor adjusted its own strategy, which is very absurd.
This change has also affected other projects, but they either fixed the problem quickly or compensated their user. Only Autofarm is still playing tricks and does not want to use its own money to compensate its own user.
Since the user’s loss is caused by Auto, why did Auto come to the Venus forum to post such a proposal?
They certainly know that Venus will never pay for others’ mistakes. They are just doing a show for those users who have lost in Auto: You see, we have asked Venus for compensation, but they disagree, so this is not my responsibility anymore.
This show is so funny.
What should Auto users do?
Since Auto’s inaction caused the user’s loss, what the user has to do is to spend time and energy on seeking compensation from Auto. Auto has already made a lot of profits through you, and they also have auto tokens. These should be used to compensate users when they incur losses, right?
I hope this farce subsides soon.
Chinese version: 对Auotofarm的回复：为什么Venus不应该给auto钱
先给结论吧，Auto在耍我们，他们不想承担因为自己的失误给用户造成的损失，所以需要把责任推给Venus，以转移自己的用户怒火，省下本应该赔给大家的经费。
So in other words, you are making this proposal in response to Autofarm’s proposal to refund the users who lost their funds from the Venus treasury. It is only logical that since the funds are now in the Venus treasury, that Venus should refund the users. Yes there were mistakes made, on one part by Venus for implementing this proposal without prior notice and for Autofarm for not reacting quickly enough to protect its user’s funds. But to punish the users and steal their funds is not the right way to teal with it. The funds in the Venus tresaury need to be returned to the users. Period, any argument against that is nothing but selfish and disrespectful towards both communities.
Perhaps we could wait until the Venus vault goes live, where stakers can finally vote. Auto could then open its own venus vault strategy and allow its users to stake $XVS, and use that to vote in favour or against any upcoming proposals. This way the community decide the result.
Additionally they should buy 300k $XVS and lock that away into their vault as a gesture of goodwill and create their own proposal so the Venus community is more likely side with them. Venus is becoming a community project yet auto haven’t added any value to Venus and it likely doesn’t even own any $XVS tokens so they aren’t members of the Venus community so we shouldn’t bend over for them.
By buy some $XVS they could establish an auto Venus vaults and join the Venus community so fellow Venus members are more likely to side with them in future and upcoming proposals and they’ll actively contribute to the success of Venus.
I agree. Auto (and Belt) leveraging code were made with blatant incompetence, they leveraged+deleveraged their whole Vault at every event (deposit, withdrawal).
In addition to requiring a lot of gas, it’s very dangerous. Venus warned weeks in advance they would setup a redemption fee, and Auto did nothing. Millions in their hands, and did just nothing.
Bunny and Acryptos had better code and suffered no losses afaik, except the normal 0.01% on the withdrawn amount (and not the full Vault TLV).
There seem to be users flagging all posts that are opposed to the Autofarm proposal. Could we stop that?
I think its not a nice gesture if they join our Venus community and flag topics like the one that @Alex posted here.
I was once supporting the original proposal, but with the latest actions I changed my mind.
Hm I find this very childish and certainly unprofessional. There’s already a post where discussions are ongoing, so why would you open a new one?
On top of that I get what you mean, yet, this is a time to have bigger picture view in which both projects collaborate and outgrow a difficult situation.
There’s no cost to Venus whatsoever and both projects would have a great benefit both in traffic and TVL.
Less whining and more discussion, let ego aside and talk business.
Sure let’s talk business. How professional is Autofarm’s proposal? Below is the direct quote:
“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 Venus’ TVL. With this increase in TVL, Venus platform is estimated to receive nett earnings of ~$206,613 daily and ~$75.4m in a year”
$75.4mil net earning in a year for $1b TVL? How did they come up with these figures? Do you think the figures make sense and “professional”?
I see you don’t know Joselito at all which i know for 14 months. Go see Swipe community and see how happy they are of him. Joselito never was precise in its decisions which he changed a dozen times. It took me 1 week to understand BNB did not have the fee whereas all others coins had. It shows bad communication tbh.
Please go check it and ask my friend DJUAE, who is SXP biggest holder, if he is happy with Joselito’s work.
The 10M that were collected in 36 hours by Venus from Autofarm users are NOT deserved, quite inappropriate too as this fee disappeared as a BIG mistake from Joselito. This is not how Venus should generate profits!
Alex, by doing so, you are hurting Venus reputation and brand. Autofarm users that staked in Venus vaults are for some also Venus users.
Don’t make Venus feel like toxic in BSC ecosystem.
I think it is a very selfish and disgraceful proposal not to refund Autofarm users who lost money. The portion of funds that are currently locked in the treasury belong to the Autofarm users. Yes it was lost because of a mistake made by Autofarm developpers, but it would be the right thing to refund it.
