EDIT: We’ve published the revised recovery plan for all affected users.
Following the recently published post-mortem for the security incident that occurred on 10 November 2023, the below proposal outlines a compensation plan for the impacted users in the fairest and most equitable way.
3,963,192.62 DAI from the peg stability module (PSM) will be distributed to users affected by the incident based on their holdings and interactions with the protocol as of the snapshot time (14 November 2023 09:48:47 PM | Block: 18572928).
To be eligible for compensation, users must meet the following requirements:
1. Holdings Requirement: They must hold R (either idle, in RR, or LP tokens) as of the snapshot time.
2. Trading Activity Restriction: They have not traded any R after the exploit date.
3. Special Case for MEXC Users: Users holding R in MEXC must provide proof that they purchased these tokens before the exploit date.
Compensation (in DAI) has been calculated differently for three categories of affected users:
1. Liquidity Providers (LPs)
Methodology: Compensation will be based on the USD value of each LP position at the snapshot time.
The liquidity pools considered for the compensation plan include
- R/sDAI (Balancer)
- R/DAI (Balancer)
- R/wstETH (Balancer)
- R/wstETH (Maverick)
- R/rETH (Maverick)
- R/ETH (Maverick)
- R/USDC (Uniswap V3)
2. RR Holders
Methodology: Compensation will be based directly on the amount of R held in RR (Ethereum mainnet and Base) at the snapshot time.
3. R Idle Holders
Methodology: Similar to RR holders, compensation will be based on the amount of idle R held at the snapshot date.
Check out the compensation distribution details among wallets in the spreadsheet below:
Further considerations and final steps
The current draft of the recovery plan is open for comments and feedback from the community until 23:59 UTC on Tuesday 21 November 2023.
WE KINDLY ASK EVERYONE TO PROVIDE FEEDBACK IN THIS GOVERNANCE FORUM.
After this feedback period, the plan will be finalized and implemented, with regular updates and further information on how to claim your compensation provided to the community.