Vault Compensation Plan v2

Also curious

1 Like

Not sure what the latest delay is. Something to do with the percentage values being incorrect and therefore meaning nothing.

I dont fully understand the problem to be fair, but it certainly seems as though all efforts are focused elsewhere and us that lost out just have to wait for the machine to fix its other issues first before they get round to swatting the particular fly…

5 months since Black Thursday. Still zero compensation for those who lost thousands of ETH to a malfunction. We need this poll to go through !

1 Like

Didn’t someone say there is a plan??? Come on, MakerDao, @rune

1 Like

Folks we’re still moving along, making some last preparations before we can put up the final poll - I expect we should be ready to go for next week or the following week, and will update everyone here once it’s on the schedule.

8 Likes

Monet-Supply, wanted to thank you and MakerMan (and anyone else involved in the weeds here) for bringing this kicking and bucking bronco along. One idea to note from someone who has followed this process and those involved in it. I hope that as part of granting any compensation, the DAO will bind recipients to a public statement that they will not participate in the ongoing class action or some individual litigation and that they will not attempt to double-dip in recovery against the Foundation. I’ve seen multiple handles here trying to drive claimants to the class action attorney and others who have made threatening (and I’d say hyperbolic and ill-informed ) statements. Regardless, these people should understand that attempting to double recover will be a challenging (if not morally and ethically conflicted and potentially embarrassing) road to travel and if they take money from us, the DAO, then they are barred from going hat in hand to the Foundation.

I think the plan will be rejected by MKR holders for this reason. People will still sue and there is no way to stop them. Most of the people making demands are also completely blind and dismissive about their own responsibility for having a basic understanding of the risks involved before taking out a loan and then expect other people to bail them out.

2 Likes

Good points as always, latetot. One thing to add: there should be a way for any compensation recipient to sign a cryptographic transaction showing control/ownership of the address connected to his/her/their vault. The list of vaults that receive money, as well as the names of the owners, should be disclosed as part of the scheme. That way, if these people try to double-dip, they can be easily exposed.

2 Likes

I also think the blockchain will be helpful here/would make double dipping difficult. Any lawsuit disclosure would involve indicating which vault was which, and if those accounts have already been compensated, I don’t see how they could continue with the lawsuit.

Seems as though maybe people are more scared of the lawsuit than I previously thought. It was already discussed to make it so those that agreed with compensation here and now had to “opt in” to receive it, along with a digital signature that they had done so and took them out of any future legal action.

This is just further stalling and at this rate MKR itself will have failed before any compensation is paid out.

@monet-supply you say that things are moving along, but what has actually happened since the plan was proposed. Like tangible events or conversations? When can we expect a poll to go live

1 Like

Not fear, @ItsGus, but further confirmation that those who receive compensation cannot double-dip. I don’t think it’s too much to ask that the community re-confirm the need for those actions given the messages that some here have been peddling.

1 Like

lol - no one is scared of the lawsuit - it just destroys any goodwill that MKR holders may feel towards people who didnt take the time to understand the risks of their CDPs and are now asking for a bailout.

2 Likes

Leave it out @latetot . Your messages aren’t needed here. We knew the risks. The risks weren’t supposed to be 0 liquidation which MKR has acknowledged already.

This is why MKR holders have already agreed compensation. This discussion has been had and is no longer relevant here. It is more discord and time wasting.

I have no problem with making this opt in to remove lawsuit from the equation either.

We aren’t asking for a bailout. We are asking for the already agreed bailout to be dealt with swiftly.

1 Like

The poll is currently being discussed by the working group to make sure that the calculations make sense and are as easy as possible to understand and explain prior to the poll going live.

Please avoid antagonizing those with different views to your own.

3 Likes

It shouldn’t be taking this long. Compensation was already voted on months ago and this is making the governance system look like a joke.

1 Like

You get more flies with honey, you know?

FUNNY :money_mouth_face: :rofl: :joy:

You get more adoption with swift and simple action though. As I have said before, emotion should play not part in pushing these polls forward. Just in the results

At this point, this a stain now becoming engrained on the whole project.

1 Like

https://vote.makerdao.com/polling-proposal/qmwfvvguaf8rz8xwgv2cqnzzt9t5h6epzh17qmk2ue99y4

Passed on June 14th.

2 months, 17 days later.

Its not my opinion - this has taken a crazy amount of time and despite that governance poll passing we are all still waiting for an outcome.

It is your opinion. :wink: