That’s just insane, if the protocol had an automated buyback option, the whales could milk the treasury dry.
You guys did it at your own risk. y’all got too greedy.
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They will do it anyway, being manual changes nothing except for the small detail that it forces people out of the project. But its greedy people with rational arguments that make us feel guilty, so lets call them fud bots.
I don’t understand what you are trying to say here. It just sounds like you are complaining for the sake of complaining at this stage.
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So are you, complaining about me posting my views, mr frog nation Gestapo. You are free to call us greedy and irresponsable, should i just shut up then? Im spreading fud? You are causing mistrust. Isnt it all relative? Funny how everyone is supposed to be super responsible for their actions. Except sifu. Amd dani. They can do no wrong i guess.
Again you are just complaining for the sake of complaining. Its not relevant at this stage. We can create a page just for moaning and complaining if that makes you feel better.
I am stating facts there is a big difference, you are trying to bully people to accepting your ideas it looks like. I believe your feelings might be clouding your judgment and I get it. Its upsetting what happened but you knew the risks when you clicked accept and it was your actions that led you to click accept.
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Yes this is true. But i would have deleveraged had the treasurer not said it was safe. But hey, its just the treasurer, why should i trust him? And if I cant trust his judgement, wtf are we doing here?
Again you are just complaining. Did someone force you to do what you did with your money ? You made that choice yourself not the treasury. You are an adult and need to take responsibility for your actions. This is part of being an adult. You were not happy with free money so you went and took a risk to earn more. Well that risk didnt pay off. That is no one’s fault but yours.
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Yes. Did someone force sifu to come out and say it was safe? Its my fault i believed him. Its his fault he choose to say that. Oh but he took it back at the last minute. Great, so his word has no value, thats much better!
Like I said before, i dont give a f* if this dont pass. I agree with you. My money, and i DID could afford to lose it. But what if i was looking for more transparency and accountability amd better communication to buy more? No. I am just complaining.
Its your choice too to exclude us. Deal with that when this crashes for major lack of trust. And even if it doesnt and its successfull, i still wouldnt miss it a bit.
Man… your points dont make any sense… The price has already crashed. People who lost already lost so if they leave with nothing the price isn’t affected? Crypto is extremely volatile. Why cant people be happy with free money as it is. If you just did the 3,3 you would still have some of your money left…
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You really think this this is going to stop here? There is nothing between the treasury and the whales now lmao… People will be delevereging. This is just the start. But feel free to believe otherwise.
The fact that you think it was free money shows you are the one without a clue.
I think you have just lost the plot now.
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Ok nice chatting with you, lets grab some popcorn, i can of course be wrong but i dont see how
Good luck getting this bullshit proposal passed. Those who leveraged deserve NOTHING, you knew the risks associated with leveraging and you still took it. Sifu also said it would have to be executed manually so it would take some time, he also said it can temporarily dip below backing which it did.
Better luck next time, don’t leverage.
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They are going to give treasury funds to the people who took on more risk than those who took on less risk than they did? No fuck that! Also this proposal shouldn’t even be to use treasury funds to bailout people who got liquidated but to use the Abra protocol fees to help those who lost their original position due to the AVAX network slowdown! Do you understand that?! The potential for the price to keep going down is high due to people like who made this proposal get their pay out and recover losses just to leave due to liquidations because they don’t understand backing price and believe me the people who borrowed the maximum 75% against their collateral and didn’t even bother to try and pay their loan back as price was falling are obviously too stupid to understand how the buy back even works what in the hell makes you think they wont sell?
What you are saying makes no sense! I would have been fucked if the treasury bail out in this proposal were to happen because I would have been left holding the bag when the idiots who borrowed 50%+ on their collateral got liquidated get to exit and the people who borrowed 10% or less are left to hold the bags in a massive state of panic? Are you dense?
I am for helping people who got liquidated due to Avalanche networks being slowed down but help the people who took on less risk first! Over the people who took closer to the 75% maximum loan value, THAT MAKES NO SENSE. You getting 3 upvotes makes no sense. The buy back happened and NOWHERE was it ever discussed that the treasury funds would be used to bail out people who leveraged EVER! Why don’t you get a clue! By the way I was also trying to pay off my loan during the whole fiasco. HOW MANY PEOPLE IGNORED PAYING OFF THEIR LOANS AS PRICE WAS SINKING?!? You can pay your loan off any time!
I’ve paid my mims back and I am NEVER using Abra to borrow again! The lack of common sense from the community whom I support has been been a total curve ball.
You people are really stupid if you think that this proposal has any merit to it.
The protocol works how it was supposed to, you are investing into early internet financial infrastructure that has the potential to have hiccups, and the wallet to the treasury funds is multi sig’ed so the buy back was never going to be instant anyway next crash be prepared to deleverage! The amount of brain dead people upvoting this proposal is insane.
I will never use Abra again EVER, if anything I will be buying more sSpell. In discord you are all like “WAGMI BRO HAHAHA”, its all fun and games with a red health bar on Abra but when the risk of investing into a protocol like this, actually play out well now create half wit proposals bailing out dumbasses because they ignored risk utilizing a protocol that isn’t even being proposed on the protocol that they got liquidated on but instead of the asset they used as collateral, actually just stupid. I am not in favor of bailing out people who borrowed more than people who borrowed less than they did and then to be expected the people who borrowed even less or didn’t even borrow at all to bag hold!
TLDR: BrazilRules doesn’t understand much
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That itself is the reason many sold. How can he come after and say oh sorry I was sleeping. No one fucking believes he was sleeping and lies just make everything shady as fuck as if it wasnt enough shady before.
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Yeah people are contradicting themselves and cant see it. Obvious cult like behaviour. What is this, TempleDAO?
Are you still chatting shit. Didnt you learn your lesson yet.
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There shouldn’t even be a vote on this.
- Backing price is floating. How would we know if anyone didn’t get liquidated because the backing price itself had dropped even when the peg had held. Assuming that the backing price itself won’t move is reckless.
- Nowhere was it stated that the buy back will happen faster than your positions getting sold by liquidators. Another reckless assumption!
- If you feel like you have been wronged by the liquidation, you should ask Abracadabra for compensations, not Wonderland.
A side note, WonderLand Treasury should’ve been a liquidator in the first place. This will truly stop the cascading drop in price because WonderLand will not be selling wMEMO in the open market after liquidating positions on Abracadabra.
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Unfortunate that things turned out this way - but when you play with highly leveraged positions with highly volatile assets - what do you expect?
I’ve been a trader for over 10 years and have made millions, lost millions and made it back - I’m still here breathing and living.
There is no such thing as losses - only lessons.
I would suggest you write down what you’ve learnt from this experience and start a gratitude journal for a month (this helps your mental state after a big loss) - you still have 10k and haven’t been liquidiated entirely!
Small wins brother.
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