I'll tell you all about Vires. This is why we should vote no

I’m 하니 on Vires telegram Chat, And I wrote down everything what they did and I was kicked out and deleted some messages.

I recommend taking a screenshot because this article may also be deleted.

Hide information without any notices

  1. When the USDN price below 0.9$ , people supplied USDN and borrowed Waves to start arbitrage.
    The collateral rate at that time worked normally, and people borrowed as much as they could and withdrew Waves.
    Even if the account was abandoned, it was profitable because the price of USDN in Vires was $1 .

I did this.

However, the Vires team, who knew this, blocked this without any notice.

  1. To prevent this, the collateral rate was lowered to 68%, not 90%.

  2. An update, hiding total debt amounts.
    As you know, borrow apr is higher than supply apr. Therefore, if total debt and total supply are the same, total debt exceeds total supply.

The homepage has been updated and the Borrow apr is fixed at 80%, and if the total debt is more than the total supply, but the total debt is more than the total supply, the data is hidden by doing the same.

You guys think number 1 or 2 is for the system?

The Vires team ignored all users’ comments that USDN should reflect market prices, and did not update to reflect market prices. There was plenty of time at this time.
And, if USDN reflected the market price, 500M whales were liquidated.
However, with the USDN fixed at $1 in Vires, the whale was not liquidated and user lost arbitrage opportunities.

Whose fault is it? Is this really for the system?

This is why I vote no for all proposals except liquidation proposal
The proposal to lower the borrow apr gives another opportunity.
And, definitely ,The opportunity is not ours.

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