Thanks for this post. I found you on twitter and made it to your writing here. I unfortunately was the fool that was a part of the $3.5M in mKO. I am completely new to defi and gave it a go on what I thought was a very risk mitigated trade as described here: https://www.youtube.com/watch?v=azpE7tkcUyc
I thought the only thing I had to monitor was the price of mKO so that I would not be margin called. Little did I know that the community can change the rules right from under you. I can't help but feel like a victim despite knowing all of the usual disclaimers: highly risky, smart contract risk, UST peg risk...I guess I'll add governance risk to the list.
FWIW, I put our home refi money into this trade to get a quick gain before we needed the money. I was taking a short cut to improve our life. Now we are left with $0. Besides kicking myself and trying to explain this to my wife, do you know of any possible recourse? I know that someone previously proposed the community for reimbursement of another like event (https://mirrorprotocol.app/#/gov/poll/228) but to no avail. Do you think it's worth proposing? Do you think there are any sympathetic people in the Luna ecosystem that are worth reaching out to?
Anyhow, appreciate your writing and thoughtful tweets. I wish I was following you a week ago :)
Thanks for this post. I found you on twitter and made it to your writing here. I unfortunately was the fool that was a part of the $3.5M in mKO. I am completely new to defi and gave it a go on what I thought was a very risk mitigated trade as described here: https://www.youtube.com/watch?v=azpE7tkcUyc
I thought the only thing I had to monitor was the price of mKO so that I would not be margin called. Little did I know that the community can change the rules right from under you. I can't help but feel like a victim despite knowing all of the usual disclaimers: highly risky, smart contract risk, UST peg risk...I guess I'll add governance risk to the list.
FWIW, I put our home refi money into this trade to get a quick gain before we needed the money. I was taking a short cut to improve our life. Now we are left with $0. Besides kicking myself and trying to explain this to my wife, do you know of any possible recourse? I know that someone previously proposed the community for reimbursement of another like event (https://mirrorprotocol.app/#/gov/poll/228) but to no avail. Do you think it's worth proposing? Do you think there are any sympathetic people in the Luna ecosystem that are worth reaching out to?
Anyhow, appreciate your writing and thoughtful tweets. I wish I was following you a week ago :)