For users who have Harmony asset exposure, we suggest you refer to their community proposal for the recovery plan.

20 Sep 2022, 09:21

For users who have Harmony asset exposure, we suggest you refer to their community proposal for the recovery plan. How to stake and get rOne token: Note that in the proposal, there is a flawed clause saying the following: “rONE holders can initially redeem (50% parity) within 30 days of mint. Limit $1000 per wallet (at 50%). The original wallet address must have an equal amount being redeemed to prevent market manipulation, (eg creating multiple wallets to drain). Must have held depegged assets on, snapshot date of 06/23/2022 and currently hold depeg token.” This clause is related to “Initial Redemption” process which is a relatively minor part of the proposal. However, we noticed that this clause is flawed because for DeFi protocols, such as cBridge, AAVE and SushiSwap, when users lock funds in liquidity pools, their individual addresses will not show balances for the corresponding depeg tokens on the snapshot date of 06/23/2022. Celer developer community have reminded Harmony team multiple times that each LP should be treated individually and we have provided a full list of LPs with balances of each LP a few days after the incident. However, it seems that our information provided were not considered at all. Up on seeing this proposal in details, we reached out to Recovery One again trying to correct this error, but no responses have been heard so far. It is not too late to correct this issue for all DeFi protocol users as the redemption process has not begun. This should be corrected for all DeFi protocols’ users on Harmony including cBridge, AAVE, SushiSwap and others. We have expressed our concern to Recovery One team and Harmony team (https://talk.harmony.one/t/recovery-one-foundation/21455/64). We hope to hear back from them soon. If you need $ONE token as gas token to withdraw funds from cBridge liquidity pool, please DM support and we will transfer you some $ONE token as gas fee. Based on the proposal, it seems that only staked depegged token will be considered for the reimbursement. For the complete information please see: