Reinstate LP-redeem/import

What if we get the import/redeem function back, BUT we make it with a few days/ a week time delay.
This would incentives people enough to buy LP-Tokens from the market with a small discount of 1-5% and bots are discouraged from going into a loop of liquidity sucking, since they have to wait a week before they can redeem their LPs.
I think this would strengthen the Protocol and bring trust back, if all protocol functions come back.

  • Big players can sell their LP’s with a small discount and stronger hands can take them.
    +The faster we get the LP-situation settled, the faster we can start borrowing again.
    Or do I miss something?:slight_smile:
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It is referred in WhitePaper. However, team has been ignoring this.

2 Likes

There should be zero need for the import and redeem to be paused at all… If someone hadn’t capped interest, we’d see a lot more people paying off debt by now. But 10 people cried on twitter, so impulse reaction, and now everyone sees waves as a wannabe central bank. And not only that, but team actually think it’s a good idea to cap interest… It’s laughable.,

Imho import and redeem pause will last till Alameda (FUD attacker) will take,at least, 50% loss of their raid capital locked:
https://vires.finance/as/3PHkZUJpS3AfmnXBNLCBmpqL25GJZb1hGiE

Not sure what your point is… The account you linked to, got 0 debt.

And if it’s just to “punish” Almeda, then… Well… They destroyed vires., holding their users hostage for that. They gonna get sued to death, now that waves is in miami.

Analyze Alamedas’ history of activity. They borrowed and shorted Waves, but the price tripled. Then they borrowed and sold more. Then they spread the FUD that induced the “bank run.” Alameda was forced to repay early. But as it was around their first short price, they are going with the profit of the induced “bank run” scenario.
The 1,000 day limit allows 95% of investors to exit in 10 days, but Alameda is stuck and is now negotiating with the Waves team IMHO.
The vToken import and redemption lock keep the door closed. Otherwise, Alameda would generate thousands of accounts.

I surely hope not, cuz they punishing everyone BUT Alameda… Alameda still making money right now. They in stables anyway, they just gotta wait it out. Meanwhile, all waves products are tanking more than the rest of the market. Good job, what a joke,.

Alameda’s profit is nothing with 1K per day limit to withdraw - in fact they lost their USDT/C millions.
When liquidity regains, Vires can release day limit to 2k or even 3k. Vast majority of normal investors would feel comfortable enough with that. But Alameda still be fu**ed deep. They were trying selling vTokens in the market, but realised that there is no buyers for such a large load. So, i guess they are negotiating with Waves team on exit agreement. I bet they should agree on 50% loss :smiley:

No… Retail aren’t gonna be happy with this. Retail don’t give a shit about waves wanting to get back at some corporation. They see the withdrawal limit, and go “why would I put money there, I can’t take them out again”. That’s it. Only people who’re ideologically invested, will ever throw money here.

You bet a lot of useless things. I don’t give a shit about Alameda, let wallstreet take their profits, they gambled and won. Waves being butthurt, is not the rest of ours problem. They punishing everyone BUT Alameda. Everyone other than people emotionally invested, now sees waves as a scam or at the least a giant joke. Well done, you sure stuck it to Alameda. lol

Loss of locked Alameda’s funds will pay you this high APR :wink:
None of lending insuring or LP protocols not warranting you’l get your funds back. You are taking risk.
Many of them have timeouts for claiming and available liquidity not always lets you out immediately.
If you see better opportunities for diversify of stables investment, would appreciate to hear that.
Anchor 's projected 16.5 % APY on UST looks to me as with the similar risk level like here.