In a situation where trust has been broken due to hacking, restoring trust is the most important, and we hope that alex will become a super DApp once it resumes business. I have a few suggestions.
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Please disclose in a transparent manner a detailed explanation of the circumstances of the private key exposure and clearly present a vision and roadmap for developing the project with the intention to resume business.
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We request a complete revision of the compensation plan due to hacking. If compensation is made with alex, the token value will plummet and in fact lead to the destruction of the project, so I think all victims should be rescued with the assets they had at the time of the hacking. This is a method of linearly distributing the value of the affected asset stx to stable coins such as usdt usdc for 6 months while maintaining liquidity to prevent a situation where there is concern about a bank run due to immediate liquidity escape.
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Mobilize available funds, such as VC funds and foundation funds, to seek cooperation to make the project happen, and to open a donation fundraising address to cover losses and secure project support.
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I believe that the current market situation is one in which the success of the Alex project is possible and fully overcome in the bull market due to the halving of bits and the target win cycle.
ect) Please create an escape route for recovered assets such as xbtc, abtc, susdt, listx, etc. Maintaining xlink, Lisa, abtc-xbtc Liquid Pool services. Please take action so that unaffected assets can be received as soon as possible.
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I strongly agree with the above suggestions.
The top priority for the project team when communicating with users should not be about recovering users’ assets, but rather how they will operate the Alex protocol going forward. Simply compensating users by issuing a large additional supply of $Alex tokens would severely dilute the token’s value, effectively negating any potential economic benefit the compensation aimed to provide. Furthermore, without any assurance that the Alex protocol can survive, users would have no choice but to dump the tokens.
Furthermore, simply distributing newly issued tokens from the project as compensation is a tactic frequently used by fraudulent projects in an attempt to gain an appearance of legitimacy. It is crucial to emphasize that pursuing such a compensation plan without taking measures that users consider acceptable will undoubtedly undermine users’ trust in the project team’s dedication to resuming operations, rendering it the worst possible approach.
So how can we normalize the operation of the Alex protocol?
I would like to ask the Alex CEO:
- Robust business restoration plan
How do you plan to resolve this crisis and move forward? Can we continue trusting and investing in the Alex protocol? Regaining the trust of users, the DAO, and VCs is critically important for reviving the Alex business. However, there has been no clear roadmap communicated on how the business will be restored. Without demonstrating a comprehensive plan for revival, simply distributing tokens to users may create miscommunication and doubt whether the team intends to make this scammed or just attempt to mitigate legal issues from victims.
- Sacrifice by the leadership
Moreover, this breach requires even greater sacrifice from the Alex project team than what users have endured. The Alex CEO should lead by example through tangible personal sacrifice, and prove to VCs and potential investors that the project is worthy of further investment in its renewed state.
Transparent communication of a robust business restoration plan, coupled with demonstrated sacrifice by the leadership team, is needed to rebuild the lost trust and convince stakeholders to give Alex protocol another chance. Without such actions, skepticism will likely persist.
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