Up to $26 million worth of Rari’s governance token may be distributed among users impacted by a hack that drained $10 million from the protocol this past weekend.
Following a $10 million exploit over the weekend, decentralized finance protocol Rari Capital is formulating a plan to compensate victims.According to an official postmortem of the attack published May 9, the platform lost 2,600 ETH equal to 60% of all users’ funds in its Rari Capital Ethereum Pool. Rari automates yield farming by rebalancing users’ funds and pools.On May 10, Rari founder Jai Bhavnani posted an update revealing that all of the protocol’s contributors had voted to return the 2 million RGT tokens initially slated for developer incentives back to the project’s decentralized autonomous organization, or DAO, to reimburse users impacted by the hack.While an exact distribution plan is still being discussed by Rari Capital’s developers and commu
Ethereum’s $3M grassroot grant program suddenly paused as Foundation rethinks priorities
The Ethereum Foundation has paused new grant applications to its Ecosystem Support Program (ESP) as it reconsiders how…
