Welcome to decentralization folks.
No ONE single player has authority to act. While one could say the Foundation could have.
Quite honestly they couldn’t. So we are left with the DAO and people basically working for free who for the most part don’t have a vested stake (vault2288 is the only one in the compensation group who has a vested interest I know of and he has been more than patient) trying to push this rock up a really high hill.
I DO not see anyone stepping forward with a second plan or to even try to do anything except get people to sign on to a lawsuit which will probably take a number of years if not a decade to settle.
A few of you have stepped up offering to help (thank you) and while I know we will need some help IF governance decides to move forward we will need more help. The problem is the last poll was turned down by governance on a really thin vote as well as margin hence this has set this process back.
Could this have been done faster? A rhetorical question given the complexity and contentiousness within the community itself about even offering ANY form of compensation.
Honestly I begin to think that at every on-ramp to crypto with money a big blazing warning needs to be posted and signed off on.
Warning - you can lose all of your money - enter at your own risk - and by signing off you sign indicating your understanding that no-one owes you anything if you lose all of your money in the crypto box. I had that warning given to me repeatedly. It is so true my wife considers all of our crypto assets as ZERO until they buy something for us.
So I am with @LongForWisdom here my empathy is dimishing for people who either can’t or won’t take responsibility for their own actions. Plain and simple here is if you don’t understand the risks and can’t afford to lose the money trying to find out - don’t play the game. This space still is wild west days. While centralized organizations are always going to do better then decentralized ones in some ways we all have to weigh the pros and cons of where we are putting our funds. In the end we have to put our big boy pants to take on the responsibilities for our actions and enjoy our own profits as well swallow the losses like grown adults.
A general rule about playing in high risk spaces, spread risk - far and wide. Don’t put all your eggs into any single basket for this one and many other reasons.
Put as simply as possible Maker doesn’t owe anyone anything no matter what happens. Given what could happen no one should expect that if MKR price goes to 0 that anyone will be made whole. DAI holders, vault holders, etc. It is a real risk. Is it probable - I think not. But it is possible. Yes. The FACT that Maker is still here after BT is a testiment to ability of the DAO and protocol to survive some difficult times, and that it will again. But this idea that somehow someone was wronged here. I can’t wait to see this Maker court case resolve actually one way or another just to see what the judges think when presented with both sides of the facts and weigh it against law.
I have to say I don’t see Maker as a crypto scam and that if you can’t read a smart contract it is not the fault of anyone else except you the user. I want one person to tell me they felt they reviewed fully the smart contracts on Maker, Compound. Yearn, Uniswap, before they used the things. I haven’t - have you? So lets try to be honest not just with ourselves but each other here about the reality of where we are at. This space is still experimental, still the wild west and yes indeedy you can still lose it all. I think it will take at least 10-20 years before this space matures in a way to be able to service mom and pop joe-six pack in a way that most people are used to. Which will mean the same stuff we deal with at banks (KYC/AML everywhere, limits and constraints as well as locks on capital based on certain constraints being exceeded. or other issues, etc.) Everyone that wants frictionless money and premissionless access also will have to deal with ‘uncompensated losses’ and ‘unexpected events that cause losses’. imo there is no real inbetween, but I am sure if there is some 3rd or 4th party will fill the gap somehow. crypto losss insurance anyone?
My apologies if the above seems crass but I am rapidly approaching my own personal fill of people who feel entitled because they lost something and won’t take their own personal responsibility for their actions leading to that and find a way to move forward. I have friends who to this day still wallow in how they were screwed by something, and how this hurt them that can’t forgive the situation, pull up their pants shake it off and move forward in life positively. Some of the worst shit that happened to me later I looked back on as the ONLY and best lessons that allowed me to grow and move forward.
So I am sorry if what I write upsets you or gets under your gander but if you haven’t learned the above lesson the sooner you do the better of you will be (imo). Look around in this world and you quickly realize no-one owes you anything and to give some real heart felt thanks to anyone who cares about you enough to help you or to be your friend. Hug your mom and tell her you love her, your dad, your friends, everyone because honestly it is really easy to end up alone, miserable, with no-one caring about you. It is even harder in these times to maintain relationships.