Partial liquidations occur on loans >500 UST. So for example a loan at 1000 UST is eligible to be liquidated until it is at a borrow limit of 80% (i.e. rr= .8).
Total liquidations occur on loans <500 UST, meaning a loan at 499 UST is eligible to be liquidated completely, meaning that a borrower’s collateral is liquidated until the loan is repaid in full. (I.e. the entire collateral is at risk if a loan is below 500 UST)
OK, that would get close but mostly not 100% or all of the collateral…but I get it.
Overall, what’s the value addition here? Upon liquidation, probably there are fees that are due to Anchor (apologize, I haven’t read through the contract). The liquidator (third party) would provide liquidity and take that fees, correct? Does this mean pool earnings will go down?
The liquidator gets the discount on bLuna. The only fees being paid are the gas fees used to interact with the contract.
V3 is where we’re trying to introduce automated liquidations via community pools and doing this all on-chain (something novel). If successful, fees will be added on.
I can’t vote for the proposal because even though I have ANC in my terra wallet (Chrome extension), when I click the VOTE click, I see a 0 balance. What’s wrong?
You have to stake your ANC first into governance before voting.
Got it.
Thanks a lot.
The main value of this is making liquidations more competitive. As they get more competitive, hopefully the liquidation wouldn’t have 30% premium so you get don’t get rekt as much.
Hi, bitn8:
I am new here and I have a question: When you vote for the proposal (let’s say with 100 ANC), what exactly are you doing? It is just a vote or you are donating the 100 ANC to the project? Is there any economic incentive? How does it work?
Thanks
Hi, david:
I am new here and I have a question: When you vote for the proposal (let’s say with 100 ANC), what exactly are you doing? Is it just a vote or you are donating the 100 ANC to the project? Is there any economic incentive? How does it work?
Thanks
When you vote you are just exercising governance - how much ANC you have staked in governance will determine the weight of your vote - your tokens are locked until the end of the voting period after which you get back control over it (essentially you are not donating it)
Economic incentive is that by voting on value added proposals, you help to grow the value of the protocol and the value of your protocol tokens.
I think overall this is a great tool and a pioneering effort by the team!
@HarpoonProtocol Any update on finical analytics for cost benefit and estimated value added from Harpoon?
There will be no update on financials backed up with any concrete data from this team. From Day 1, I noticed several people questioning the legitimacy of this protocol. With tweets from Do and Terra, I assumed there was no reason to question if Harpoon Protocol is a scam. Flash forward over a week, we still see people questioning if this is real in the Telegram chat and nonsense reasons and explanations that seem to change daily on why the Harpoon team cannot produce any transaction IDs, wallet addresses or any concrete proof that V1 works as they claim.
This has all of the tell tale signs of something that the Terra community needs to keep an eye on. The first governance proposal on Anchor was passed to fund what looks and feels like either a scam or a product that has somewhere between no chance and a very low chance of actually performing liquidations in V1 and V2.
Has anyone working with Terra actually seen anything that indicates this is not a scam and that Harpoon Protocol has actually developed the product they claim is already working?
What exactly are you accusing of? That v1 of Harpoon isn’t very usable or that its a scam, because those are two very different claims. Nothing Harpoon claims to do is outside of the realm of what is possible with interacting with the smart contract.
Some of the posts here are borderline ridiculous. Did anyone ask smart stake to do detailed analytics of the cost/benefits of building out a dashboard for mirror for the equivalent USD amount? What detailed financial analytics of cost/benefits are you looking for? And why would anyone put in work to provide that for you AFTER THE VOTE PASSED? Do you guys want them to hire some econometrics guys to figure out the cost/benefits of a 100k grant, cause just doing the study would probably cost a 100k.
Just FYI, I’ve followed harpoon from the very beginning and and now have beta access to the platform. I’ve been able to submit my bid, but not liquidate because there are no loans that are currently liquidate-able. I’ve also been able to look through every loan in the platform with detailed analytics, and verify the information on chain.
At the very least, Harpoon has built out an equivalent to smart stake’s dash board with detailed analytics of the entire anchor loan platform, even if doing liquidations from a web ui might be hard. Accusing them of being a scam is ridiculous. If this was a scam, they would already be selling a token. Noone scams for a 100k grant in this space…
@HarpoonProtocol What’s your thinking behind waiting 30 days to release the source? Normally, when a company hires a developer, the code written by the developer belongs to the company. What’s your position on who owns the code? Why not develop in an open repository?
According to this report, Harpoon are releasing a token. Yes, you guessed it, Harpoon will have their own token!
@HarpoonProtocol agree. You dropped off as soon as you got your funds… And that doesn’t look great. You have a due diligence to keep the community informed here as part of taking community funds.
Yeah not cool to take community funds to do this. @HarpoonProtocol please let us know if community funds are going to building your chain? If so, ANC holders should get a vote in the tokenomics i.e. airdrop percent to ANC holders.
And to be clear, I’m not saying this is a scam. I just think the community deserves more transparency here.
Thanks for your consideration
Are you in the telegram/follow our twitter? We update/engage better there.
Tokenomics wise we never asked for funds for our token, that’s completely separate from our initial proposal.
V1/V2 was for the UI/UX and analytics dashboard.
V3 automation is a completely separate product that our dev team still is deciding on how Tokenomics should play out.