I agree with you, this Telegram group is particularly confusing.
It is a continuous source of nonsense and it is very difficult to distinguish a single useful or relevant information… It’s worse if serious contributors (like you) are simply banned without a single warning…
In my opinion this Telegram group does not serve the image of the protocol. At first I even thought it was a fake, a scam or a joke… I had to convince myself that it may be useful one day to follow this.
Maybe Venus should consider setting up a Telegram group for official and serious announcements, like Binance does.
This is a decentralized community project not a company, everyone is equal. Venus is the same as Compound’s source code except the extra VAI part, feel free to go to Compound’s discord ( https://compound.finance/ discord link in the bottom of the page) and ask them what the Reserves are designed for and why they are important.
You are correct that the governance can control the reserves, but that does not mean it has to be spent irresponsibly, without fully understanding its purpose.
The governance can also brick the contract by updating them to empty contracts that does nothing it does not mean it has to be done either just cause they can or have the rights for it.
A), some, but not most, of these admin types are not smart. MOST humans, do NOT know what “Fractional Reserve Banking” is. MOST humans are horribly uneducated in how the nasty financial system works. If they knew, they would shat their pants. Why, because “risky” doesn’t even BEGIN to explain the situation. HOWEVER, that is the world we live in. Defi, far riskier, but built on the same principles because A + B -23 = the same dang thing on a central bank server as it does on a blockchain or DAG. Economics is math, math is math period. Now, we must realize that if the “every day dum dum” learns of “FRB” not only in general or from his economics high school teacher BUT from his/her experience in DeFi, ON A TELEGRAM CHAT ROOM (scary, scammy, no cops or government etc etc etc), that the individual making this discovery will… for lack of better terms, flip out so hard the would not even trust their own mother with their money. Seriously, it would be the worst AND TRUEIST FUD to exist.
NOW, hear this. For an admin to blatantly lie, sidestep, oppress the truth and or end users because he/she is A) too stupid, B) uneducated C) a bully, D) etc etc, is the 100% opposite action and character of someone who needs to be in a position as such. I don’t expect, heck, I don’t want them to bring the subject up (of FRB) but BUT if the subject is brought up one way or another at that point it must be handled with a professional manner underscored by a sprinkle of “know WTF you are talking about”. To handle it ANY other way is not only immoral and dirty but place enormous trust issues and thereby financial risks to the protocol and thereby to ME! And I’ll be D*** if some half-wit numskull, that can’t get a real job (who in turn resorts to cyber bullying on a chat board, so pathetic, wow; just wow) is going to jeopardize my money, my hours of reading and learning, and bla bl blah blah. . Point is case, some of these “admins” need to be pushed off the porch like the fat lazy cats that they are. Remember ppl, you never know what… or who… tmr will bring to your doorstep. Let’s not forget, this is the forefront and battlegrounds of the scariest frontier yet… information technology and data security. Not everyone out here licks windows muttering “when moon…”
This, and to be fair, most TG’s are a joke. An absolute disgrace. I would embarrassed if my real friends found out I joined one of these groups… yet, as horrible as it is… it ALL there is. Absolutely pitiful. No wonder so many are anon in this biz…