Round 3 Recovery Process summary.

04 Jan 2023, 08:32
Round 3 Recovery Process summary

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1
Harmony
HarmonyONE #229
Telegram
04 Jan 2023, 16:57
Hi burger boy, Heres a nice summary for you. The 3 official recovery partners (Tranquil, Modulo and Recovery ONE) have burned a total of $4.38M in 3 rounds. Using $450,000 from the harmony treasury. In three rounds we have also seen 3 validators join the burning efforts. (Depegging Node, Burning Hound and Recovery Validator). Another validator is joining soon. We have community members that are staking and burning depegged 1assets with their staking earnings. We have an NFT project from DominoArts (partnered with Recovery One and Recovery Validator) that will raise funds to assist with the recovery. ——— yes, there is a 10% exchange rate for depegged 1USDC. However action has been started and the recovery is in motion. We can see from community involvement that the recovery is growing and strong. This recovery plan has a 4 year timeline, so patience is a valuable perspective here.
Hi burger boy,. Heres a nice summary for you.
Hi burger boy, Heres a nice summary for you. The 3 official recovery partners (Tranquil, Modulo and Recovery ONE) have burned a total of $4.38M in 3 rounds. Using $450,000 from the harmony treasury. https://medium.com/@villainvalidator/harmony-blockchain-recovery-round-3-9b34d00ce3e In three rounds we have also seen 3 validators join the burning efforts. (Depegging Node, Burning Hound and Recovery Validator). Another validator is joining soon. We have community members that are staking and burning depegged 1assets with their staking earnings. We have an NFT project from DominoArts (partnered with Recovery One and Recovery Validator) that will raise funds to assist with the recovery. ——— yes, there is a 10% exchange rate for depegged 1USDC. However action has been started and the recovery is in motion. We can see from community involvement that the recovery is growing and strong. This recovery plan has a 4 year timeline, so patience is a valuable perspective here.