This post is not meant to be an attack for the mere pleasure of attacking someone. It's a cry for help in hope it will become a stimulus. To make things better. To start treating the users like they have few brain cells.
Leo has recently launched a DHF campaign in this post I'd like to tell you why I won't support it, even though it might sound sound.
Leofinance communication issues
Among the things the Team is doing, there are serious problems with communication and keeping the word. I'm not talking about soon™ and don't giving a damn about set deadlines...do you want some examples? Let's head to the following statements
- MultiTokenBridge and its CUB burns are automated and use price averaging not to buy on a peak.
- bHBD is backed by HBD by 1:1.
Both these statements have proven to be false. The nature of facts is not a problem, but lack of communication and truthful statements is dangerous - we only learnt about this things from 3rd parties, which might have used it for a coordinated attack. The half-true gossip is as dangerous as the truth about some fuck-ups.
I used to, at least was trying to, raise awareness about cub burns being not being automated on Threads and only few users reacted. Few months back I noticed the cub burns being not as advertised which was odd. I was quite happy about burns happening at all (as opposed to the times before introduction of MTB), but there was something out of order.
Later on there was a shit storm with Splinterlands in which tmit turned out that bHBD is not backed by HBD in 1:1 ratio
You see this? We wouldn't know if there wasn't a major community member that raised the issue. response afterwards during AMA wasn't what I expected and didn't remove the concerns.
In the ideal world, the Leofinance would release a statement in which they would tell us:
- they're working on new version of MTB and until then they have to put away HBD (and where),
- they would use put the HBD into savings and they what they would use the rewards for as dividends out of 200k HBD are significant,
- they would cover major transactions manually for the time being.
Non of this happened
This might sound trivial for some, but lack of this news releases might have created a panic which would affect me as I hold some +45k of CUB. The Leofinance team needs to defuse these bombs before they would go 'boom'.
I know there was a Thread campaign in place, but it doesn't mean you can behave in such manner, there are real money involved. You need to be serious about these things.
I still believe there's room for change as it requires no costs but for change of attitude and approach.
I think it's beyond any dispute and we can all agree there's much to be done with $CUB