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Alpha Homora

Iron Bank and Alpha Homora Conflict Summarized

Overview of What Happened As a recap, AH and IB (Iron Bank) had bad debt between two protocols as a result of code exploit attack in 2021. The debt was resolved between 2 protocols with debt repayment plan together with collateral that AH put up worth 2x the bad debt

Tenth Open Letter: Goodwill Fund

After two and a half months of depositors (those who interacted with Alpha Homora (AH) frontend to deposit funds into Iron Bank (IB) on Ethereum) and AH, on behalf of depositors, negotiating with IB to unfreeze depositors’ funds, depositors voted to stop negotiating with IB, receive a goodwill fund set

Ninth Open Letter to Users

Calling all AH users to vote on this proposal submitted by users to IB https://snapshot.org/#/ibdepositors.eth/proposal/0x581fb26a4f3aa08a4dfd306bc48363e44e58fd96ac3d67a81a393bdd09cf1856 Voting ends May 7, 11:59PM UTC. Since the end of 120 hours, we have been preparing to set up goodwill fund and other details as outlined in Path

Eighth Open Letter to Iron Bank

As a result of the recent voting to determine a path forward regarding an issue with Iron Bank (IB), depositors, who interacted with Alpha Homora frontend to deposit funds into IB, have voted to stop negotiating with IB (Path 1). As outlined in the details of Path 1, IB will

Seventh Open Letter to Alpha Homora Depositors

Based on Iron Bank’s (IB) response to the 6th Open Letter, IB did not pick any solution. This means the default path forward (“Original Plan B”) would be to stop negotiating and move forward with the understanding that IB does not cooperate. In this path, Alpha Homora will stop

Sixth Open Letter to Iron Bank

Since 2021, there exists bad debt from exploited funds between Alpha Homora and Iron Bank (IB). The two protocols work through protocol-to-protocol lending mechanism, and thus it was appropriate for the issue to be resolved between the two protocols. At the time, both protocols agreed to this agreement to settle

Fifth Open Letter to Alpha Community

Per Alpha’s Fourth Open Letter, the Alpha Homora depositors have voted for Alpha to negotiate with Iron Bank (IB) in order to find middle ground. After the voting result, Alpha Homora has been exploring potential solutions taking into account the depositors’ feedback and IB’s proposal to unpause certain