Summary
- Drift said it plans to compensate for the large-scale hack losses by issuing recovery tokens in proportion to the size of each user's losses.
- The current compensation pool stands at about $3.8 million and will be expanded through protocol revenue, external funding and support from Tether.
- Repayment will be possible once the compensation pool exceeds $5 million, while additional claim rights will be extinguished in the event of early repayment. Drift is aiming to restart the service in the second quarter of this year.
Forecast Trend Report by Period
Drift has unveiled a recovery plan for losses tied to a large-scale hack, as the protocol moves to begin compensating users.
In a post on X on May 5, Drift said it plans to compensate affected users by issuing "recovery tokens" in proportion to the size of their losses.
Affected users will receive one token for every $1 in losses through an airdrop.
The compensation pool currently stands at about $3.8 million and Drift plans to expand it through protocol revenue, external funding and support from Tether.
Repayment will be possible once the compensation pool exceeds $5 million. The plan also stipulates that any additional claim rights will be extinguished in the event of early repayment.
Drift is aiming to restart the service in the second quarter of this year.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
