Update: Insurance Fund depositors will be able to withdraw their Insurance Fund stake when the protocol goes live.
Drift’s documentation and code demonstrates that the Insurance Fund exists to maintain protocol solvency in the event of bankruptcies.
Given that the protocol was paused before losses resolved through the ordinary liquidation or bankruptcy paths, the Insurance Fund was and remains unaffected by the exploit. Users will be able to withdraw their Insurance Fund stake when the protocol goes live.
Any protocol-owned Insurance Fund assets will be allocated to support a healthy relaunch for all users. Relevant program addresses will be publicly disclosed so the community can track how protocol-owned capital is deployed.
Yo @DriftProtocol why did you guys tell your customers they were getting half their money back from the insurance fund then use a "governance token" vote to decide not to robbing your customers again? Asking for a friend
@RealCryptoFace@ChurchjAllDay@DriftProtocol It was supposed to be 100%,
The insurance fund is 20M only to be used to insure liquidation bankrupcities.
Now they’re trying to use all that money, leave us nothing, and put it into recovery tokens (we don’t even get)
@RealCryptoFace@DriftProtocol Drift Protocol promises to return the money in FULL (the entire IF)
-> drift admits the funds are fully for a different purpose
-> drift then retroactively attempts to change the rules of the fund to be socialized
-> people who hold the fund don’t even get to vote