Agave Reparations Proposal

#1

Putting together this proposal was incredibly difficult and complex. The methodology has to be fair to all across the board and not on a case-by-case basis.

I outlined the events in my last post. It’s impossible to compensate people on a case-by-case basis because any claim will have to be ratified by the DAO. But the methodology outlined below is what I believe to be fair.

Compensation

For those who lost due to setting the initial pool incorrectly

  • 55 HNY
  • 200 Agve

For everyone who traded until liquidity was added to the weth-agve pair

  • 200 AGVE

Between pulling the liquidity from the HNY/AGVE pool and creating the WETH/AGVE pool, there remains a 55 HNY surplus in the Agave DAO. An additional 400 AGVE would also be allocated to boost the compensation. Those who are determined to be at a loss will have a share of this 55 HNY and 200 AGVE.

Additionally, anyone who traded AGVE up until the second pool was opened will also share an additional 200 AGVE

Criteria

  • users who bought above 50$ (in the first pool before the liquidity was pulled) and could not sell with a gain or breaking even.
  • share of the compensation is calculated by taking the difference between what you bought and sold
  • we then sum the total losses and allocate a share of
    • 55 HNY and 200 `AGVE

There is also an additional 200 AGVE that will be split between everyone who traded before the liquidity was reintroduced to the new pair WETH-AGVE.

  • Excluded from the list are accounts identified as trading bots and the liquidity pools themselves

Payout document

Link

  • Retributions Tab: Trading activity for participating accounts
  • Payout Tab: Simplified list of accounts and amounts to be paid

Summary

Again, this is not perfect. But I encourage everyone to read the supporting documents and share their thoughts and opinions. I also think it will be helpful for other proposals on how to move forward. This proposal should include methodology and the amounts due to be paid out.

Lastly, I would like to thank everyone for their patience over the last week and for contributing to the discussion. As I have mentioned before, governance is not simply the act of voting. The shaping of the conversations is also significant.

special thanks to @luigy for putting in so much effort, collecting the data in this proposal

UPDATE
The first votes are live. check out this thread for an explanation of what the votes do

47 Likes
Reflection on the Agave launch
Reflection on the Agave launch
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#2

Thank you guys you did a very good job. I support your proposal :+1:

3 Likes
#3

Hi, I have read your proposal and I am glad that you have reached a good result in order to compensate the damages. I think your method of payment of compensation is completely logical and principled, and this worthy action of yours shows the high credibility of the 1hive community. Thank you.

7 Likes
#4

I have been following along and have watched the proposal evolve over the last week or so…you guys did a great job listening to the community kudos to @luigy I know he spent alot of time sorting through the tx’s… I have yet to here anything negative about this proposal, rather alot of support,so I’d say it’s a winner! Ty for showing integrity and listening to the community members…a very fair proposal! I say send it to a vote and let’s move to the next stage of things for AGVE

1 Like
#5

Huge amount of effort involved by yourself, luigy and others, great work and thank you.

How does this proposal actually get passed - is it voted on by the DAO or does it become decided it should pass? How do we know when it will be passed/paid out?

1 Like
#6

Very good @GreenHornet, what a remarkable work you guys pulled off. Respect.

Is there a timeline for the proposal as far as you know?
Get some rest man :slight_smile:

2 Likes
#7

Only 1Hive has members like you that are ready to assign to themselves and correct that which did go wrong, but did not result in a catastrophic situation.

I myself have let my emotions take the toll on me that Sunday, and must say I became argumentative regarding the disclosure of the original launch date. No longer clouded by irrational thoughts, I can say that in spite of accidents a situation like this can very well serve as a fundamental proof of where our goals lie. In the end I did not personally benefit from AGVE, but time will show that in the long term all of us shall benefit from positively-reinforcing acts, especially such as selfless as these. This is simply yet another investment in the future.

All hail!

4 Likes
#8

Thank you guys you did a very good job. I support your proposal :+1: :smiling_face_with_three_hearts:

2 Likes
#9

Great job finding a quick and fair solution! You are awesome!

1 Like
#10

such a good Compensation!! :heart_eyes: I’m glad to meet the list!

1 Like
#11

such a nice words… I’m sure by sympathy and collaboration,1Hive will reach the dreams.

2 Likes
#12

Well done everyone who contributed putting the time and effort into this detailed report and those who communicated and considered all points of view and opinions of the community and team members, I feel like the community was listened to, understood and compromised with to reach a fair and just compensation for those who deserved it. This gives me great confidence in the 1Hive DAO, AGVE DAO and the community itself to organise and solve problems in a decentralised manner.

4 Likes
#13

it sounds good ,and 1hive could be better in the next period

1 Like
#15

very good job. I support your proposal :+1:

1 Like
#16

Great job @luigy and @GreenHornet I will support the proposal with my vote when it comes up.

1 Like
#17

Brilliant, by following the discussions on discord i witnessed the hard work that went into this and the attention payed to detail also by luigy, sandpiper and others. one of my favorite thing about 1hive is the transparency of it all ! (edited for spelling)

1 Like
#18

You guys did well. Kudos to the team!

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#19

It seems to me a fair enough proposal and to which I do not think I have objections!!

2 Likes
#20

Well done guys. Good work :+1: Much appreciated.

2 Likes
#21

That sounds very fair.

1 Like