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Alpha Homera’s Open Letter to Iron Bank

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It is reported that Alpha Homera issued the third open letter to the Ethereum lending platform Iron Bank, after Iron Bank froze the loan account of Alpha Homer…

Alpha Homeras Open Letter to Iron Bank

It is reported that Alpha Homera issued the third open letter to the Ethereum lending platform Iron Bank, after Iron Bank froze the loan account of Alpha Homera on March 1 due to the bad debt dispute. Alpha Homera believed that confiscating the user’s funds was not a solution, and publicly put forward a bad debt solution: 1 Iron Bank returns customer funds not on Ethereum; 2. Of the approximately $41 million on Ethereum, Iron Bank will transfer approximately $11 million to users. About US $11 million represents the net bad debt amount of user deposits, excluding accrued interest. 3. For the remaining US $30 million, detailed information on how to deal with it will be shared with the community within 1 week after Iron Bank agrees to the above solution.

Alpha Homera proposed a bad debt solution to Iron Bank and asked Iron Bank to return some user funds

Interpretation of the news:


Alpha Homera, a borrower on the Ethereum lending platform Iron Bank, has issued an open letter to the platform, requesting a solution to the bad debt dispute that led to the freezing of their loan account. According to reports, Iron Bank froze Alpha Homera’s account on March 1 due to unresolved bad debts. However, Alpha Homera believes that confiscating the user’s funds is not a worthwhile solution and has publicized an alternative proposal.

In the open letter, Alpha Homera put forward a three-pronged solution. Firstly, they are requesting that Iron Bank returns customer funds that are not on Ethereum. Secondly, Alpha Homera is urging the platform to transfer about $11 million to users, representing the net bad debt amount of user deposits, excluding accrued interests. Finally, detailed information on how to deal with the remaining $30 million will be shared with the community within a week after Iron Bank agrees to the above solution.

The proposal presented by Alpha Homera seems like a viable solution to the bad debt dispute, as they are offering a way to compensate users for their losses. Rather than confiscating funds, the proposal aims to distribute the associated funds in a fair manner that reduces the impact on users. Additionally, this proposal lays the foundation for resolving other bad debt disputes that may arise in the future.

The proposal also underscores the significance of the Ethereum lending market and how it has grown financially over the years. As the Ethereum ecosystem continues to evolve, there is a need for fair and transparent systems to be in place to ensure the smooth operation of the market.

In conclusion, the open letter from Alpha Homera to Iron Bank emphasizes the importance of addressing bad debt disputes in an equitable and timely manner. The proposal put forward by Alpha Homera highlights the need for the Ethereum lending platform to adopt policies that are fair to all users in the face of bad debt. The proposal also emphasizes the importance of transparency and communication in the Ethereum ecosystem, as it will enable the market to grow and flourish.

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