Balancer Proposes Plan for Recovering Funds From November Hack

The Balancer protocol community has proposed a plan to distribute funds recovered from the $116 million hack that occurred in November. Two members of the community submitted a proposal outlining how the nearly $8 million recovered by white hat hackers and internal rescue teams should be distributed. However, the approximately $20 million retrieved by StakeWise will be handled separately for its users. 💰 The proposal recommends distributing the funds non-socially to specific liquidity pools that suffered losses and paying out proportionally to each individual holder’s proportion within these pools, measured by Balancer Pool Tokens (BPT). 🤝 This method aims to ensure fair distribution based on the original investment level. In addition, the reimbursements should be made in kind using tokens lost during the hack to prevent price discrepancies between assets.