@SilkBtc In case you're not in it yet, we have a Telegram group of affected users. 129 members so far - some accepted the 51% deal, most didn't. https://t.co/Pqx3JYVjDC
@crlfq@Neutrl Signing the terms and conditions for the 51% redemption gives up all claims to the illiquid funds that will be recovered in the future. That's just pure theft and (legal) fraud.
@wassielawyer@TimStone84@Bkclaims@Neutrl Thank you for your insight. Is the clause "accept 51% and lose all claims on future recovered funds" standard legit business practice or are they trying to scam/blackmail/pressure investors? Thx!
@vinay15yaniv@KazumaxCrypto The redemption terms are: you get 51% now, but you have no claims on all the recovered funds from illiquid assets. You may get some if they feel generous, but they can also just keep it. Really scammy.
@PBalban@cortes_john Great addition and much safer than escooters. I'm wondering whether or not these (city-)bikes are powerful enough to go up the rock.
@deficrimewatch sNUSD still seems to be trading on some DEXes with very low volume, but that's besides the point. General mood on X is "all NUSD money is lost" - I'm just wondering how bad the situation really is. 10% haircut or 75%.
@deficrimewatch Even in the worst case, wouldn't it be only a rather small percentage of the overall $53M, if a single investment of the fund went south? sNUSD is trading at a 75% discount atm. What am I not seeing?
@deficrimewatch Thank you. Just to get some perspective regarding the scale of the issue here. Assuming the worst for the $H situation... How much of a hit would the 53M reserve take? Any guess? Thx
@deficrimewatch Interesting. How much of a hit did they take through this? "a few million" doesn't sound too bad in comparison to the 53M balance sheet. Is this a 10% haircut situation or are they in much bigger trouble? Thx
Neutrl has temporarily paused minting, redemptions, and other protocol functions following circumstances affecting protocol reserves. We are using @herd_eco by @andrewhong5297 to check where the reserve assets are held.
@kelvara_bear@Neutrl Where did the whole system go wrong? It was supposed to be delta neutral... If they ride this out for a while, do you think they will have enough funds to return the 53M? Or where did money get "lost"? Thank you in advance