Simple Summary: to compensate long-term investors who bought HFT above $1 on the TGE day
Abstract: long-term investors who bought HFT above $1 on the TGE day are more deserving for free HFT rewards than those who just minted some free NFTs or bought them for very low price, then dumped all rewarded HFTs at the TGE day and ran away with our money, which resulted in the following unfair scenario: people who dumped early made huge profits within a short period of time and people who were forcefully turned into long-term investors - like us - and working with hashflow to propose ideas losing more than 60% of their investments !
Motivation: happy long-term investors are key success factor for any project, in addition this would greatly enhance the brand image of hashflow across the crypto space attracting more long-term investors
Specification & Rationale: as explained in the above abstract, I can list here the main mechanism:
a user submits an evidence that he bought X amount of HFT tokens at TGE day with an average price above $1 (on-chain txn, snapshots from binance / cex, other evidences can be brainstormed in replies)
he gets a compensation of the same amount of HFT tokens rewarded to his account in hashflow (see related discussion above as one proposal to switch rewards from NFT dumpers to long-term investors)
these rewarded tokens are locked for one year before they can be claimed.
publish in social media about the completion of the compensation scheme to enhance the brand image of hashflow.
Benefits (Pros):
happy long-term investors who continue to work/cooperate with hashflow team
enhanced brand image for HashFlow
attraction of more long-term / institutional investors
Downside (Cons):
biggest challenge: to provide reliable evidence for amount of HFT bought and the avg. price
needs big effort / time by hashflow team to filter out scammers
the floor remains open for discussion / brainstorming ideas to improve / fine-tune the proposal
Voting: simply “yes" means that you agree and “no” means you don’t.
when I get back home, i’ll post here one example of the evidence that i’m able to provide along with my funny/sad story (could be taught at hashverse’s academy / theater as an example for an investor’s drama movie )
started cautiously at $3.9 buying only 5 HFTs every 10 cents, then increased the quantity over the first 2 days and ended up buying 100 HFT at each 1/2 cent around $1, with selling /re-buying some during the day, which at the end resulted in the above shown snapshot of 4340 HFTs at an avg. price of $1.1139
also - if required - I can extract an excel sheet from binance showing all details for each trade that led to the above avg. price / position
regarding my funny/sad story that could be taught at hashverse’s academy / theater as an example for an investor’s drama movie, I think that it will be better to propose as a separate draft
My main feedback here is that HFT is a utility token rather than an investment. Looking at price points is generally the wrong approach, therefore. The promise of HFT is that of governing over the Hashflow protocol.
That being said, I think the spirit of valuing people who hold long term vs people who get rid of their tokens short term is right. That is, if people get rid of their tokens right away on the open markets, that is a clear sign that Hashflow governance is not something that they’re interested in, thus not providing clear value to the protocol.
My general feedback: I don’t think we should look at any buying price. Most proposals should focus on getting HFT in the hands of the right holders: the people who want to accumulate, contribute, and grow the protocol (yourself included). Therefore, I suggest coming up with proposals that incentivize loyal holders, instead of trying to price-compensate people. Again, price is not the value proposition of HFT.
thanks for your feedback, I was trying to open a window of hope for me and others who are stuck at high prices, anyway, I’ll try to think about new proposals that are not price-centric.
I do not think it is a right way of recovering your lost funds. as Ser victor said HFT is not a investments but I totally understand your point and appreciate your participation on the forum. If you have noticed we are proposing some changes for making HFT more valuable and stopping the sell pressure! If things go well, you will be able to get back on your first day investments soon!
My general feel here is that anything that ties HFT to a price should automatically get rejected by the Guardians, but I’ll let them weigh in. Otherwise, I would see no issues with making this a Formal Proposal, even though I do not agree with it.
yes but since you are proposing to reduce APY for HFT’s LP, we are left with no other option to recover, so imo, either to keep high LP’s APY (for HFT only) or pass this one
Show me a crypto project that compensates for speculation - I want to educate myself.
I’m in the crypto space since 2017 and have never witnessed such an expectation from a project.
In the matter of compensation I’d say that this might be valid if Hashflow was hacked (even then it depends on many factors). Luckily the core team is highly skilled and engages auditors for the smart contracts - hope we won’t ever get hacked!
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