Summary
- Drift said it had unveiled a compensation plan for hack losses that includes issuing recovery tokens in proportion to the size of user losses.
- The compensation pool currently stands at about $3.8 million and will be expanded through protocol revenue, external investment and support from Tether.
- Once the compensation pool exceeds $5 million, repayment will be possible, and any additional claim rights will be extinguished in the event of early repayment. Drift aims to resume service in the second quarter of this year.
Forecast Trend Report by Period
Drift has unveiled a recovery plan for losses from a major hack, formally launching its compensation process.
In a post on X on May 5, the platform said it plans to compensate affected users by issuing "recovery tokens" based on the size of their losses.
Affected users will receive one token for every $1 lost through an airdrop.
The compensation pool currently stands at about $3.8 million and will be expanded through protocol revenue, external investment and support from Tether.
Repayment will be possible once the compensation pool exceeds $5 million. The plan also states that any additional claim rights will be extinguished if early repayment is made.
Drift is aiming to resume service in the second quarter of this year.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
