Reeling from post-hack price slump, Easyfi reveals community compensation plan
Stablecoins, IOU tokens, and future incentive programs are coming down the pipe for jilted investors. After a devastating hack, a cross-chain decentralized finance (DeFi) protocol has revealed today a temporary compensation plan for token holders and investors impacted by one of the largest exploits in DeFi history. In a Tweet today, EasyFi announced their “Interim Compensation Plan,” a multi-stage process that includes immediate payments, IOU tokens, and incentive programs aimed at victims of the attack. 1/ #EasyFi is releasing a carefully thought out compensation plan for the protocol....
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DeFi protocol EasyFi is looking to bounce back in a major way. After a challenging start to the year, the EasyFi team has completed a hard fork and released a detailed interim compensation plan and reinstatement plan. Built on the backbone of permission-less networks and automated smart contracts, the latest news for EasyFi bodes well […]
A Brief History of the Attack A multichain layer 2 protocol on Polygon, Ethereum, and Binance Smart Chain (BSC) network, EasyFi, reported a hack on April 19, resulting in the loss of millions of dollars worth of funds from the official contracts of EasyFi. An unknown hacker stole the private keys to the platform’s admin […]
DeFi protocol EasyFi, a multichain layer 2 lending platform, is looking to bounce back in a major way. In public statements released in recent weeks, the company is showing commitment to the protocol, despite suffering a hacking incident last month. EasyFi started working for reinstatement to start the month, following hard fork and distribution. The […]
The Origin Protocol team has unveiled a compensation plan for its depositors who were adversely affected by the flash loan attack in November. According to the team, there is now a plan to provide compensation equal to 100% of the value deposited to OUSD at the time of the exploit. Two Compensation Plans Still, the team clarifies that one’s OUSD holdings before and after the hack will be a key determinant of the compensation package they will receive. In an update issued via Medium, Micah Alcorn who is the Production Engineer at Origin Protocol says: Approximately two-thirds of....
Cover Protocol will distribute new "coins" to token holders as Binance announces compensation for affected traders. Peer-to-peer coverage market Cover Protocol has published a compensation plan for token holders and liquidity providers affected by the recent hack. As part of the process, the Cover Protocol team took a snapshot at block height 11541218, the last transaction block before the exploit began.Eligible liquidity providers on Uniswap, SushiSwap, and Balancer will receive new COVER tokens based on their share of the liquidity pool on those platforms. Liquidity providers on the....