Tracy | drift

barking @DriftProtocol @DriftFDN

[Tracy | drift @tracybbd]

@Senecal19 @cindyleowtt We’re working through audit process now, and we don’t want to give a date until the relevant parties can confidently stand behind it.

Relaunch remains a top priority, and we’ll share a confirmed timeline as soon as we’re able to.

[Tracy | drift @tracybbd]

CLARIFICATION: DIP-10 is unrelated to the Insurance Fund.

It is specifically about the remaining spot assets in the Borrow/Lend pool, and proposes to authorise Drift Foundation to convert those assets into stablecoins to seed the recovery pool at launch.

Affected users will receive recovery tokens representing their verified loss, which can be claimed against the recovery pool as it grows.

[Drift Foundation @DriftFDN]

Vote for DIP-10: Treatment of Remaining Asset in Borrow Lend is currently live.

[Tracy | drift @tracybbd]

@KingCryptoGator @DriftProtocol @xplaceapp @apnmrev You should receive recovery tokens that represents that verified amount, which can be used to claim against the recovery pool.

This is not live yet.

[Tracy | drift @tracybbd]

@refulk_one @ulydegen @DriftProtocol If DIP-10 does not pass, the remaining Borrow/Lend assets are left as they are.

Those assets would remain in the protocol until an alternative governance-approved path is determined.

[Tracy | drift @tracybbd]

“Remaining assets” does not mean “directly returnable.” Borrow/Lend is a shared pool, and the remaining assets are not cleanly attributable to individual users without resolving the full accounting across deposits, borrows, collateral, PnL, and open positions.

DIP-10 is meant to route those assets into the recovery pool so claims are based on verified loss.

[Tracy | drift @tracybbd]

@ulydegen @DriftProtocol Nothing is being stolen here.

DIP-10 proposes converting the remaining Borrow/Lend assets into stablecoins to seed the recovery pool, which is intended for affected users who suffered losses from the incident.

[Tracy | drift @tracybbd]

@goldenhotplasma yes

[Tracy | drift @tracybbd]

IF depositors will be able to withdraw their stake when the protocol goes live.

[Drift @DriftProtocol]

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.

[Tracy | drift @tracybbd]

@Catholiccu @DriftFDN DIP-10 proposes converting the remaining borrow/lend assets to USDT to seed the recovery pool for affected users.

Affected users would receive recovery tokens, which can be used to claim from the recovery pool as it is funded.

[Tracy | drift @tracybbd]

@SusanooSOL @DriftFDN All Borrow/Lend assets were affected. While some assets remain, they cannot be returned directly without breaking pool accounting.

Assets remaining: https://t.co/mIZVzwOjGY

DIP-10 reasoning: https://t.co/aCCoelgYfA

[Drift Foundation @DriftFDN]

Vote for DIP-10: Treatment of Remaining Asset in Borrow Lend is currently live.

[Tracy | drift @tracybbd]

@goldenhotplasma The portion currently contemplated is 100% of net exchange revenue.

[Tracy | drift @tracybbd]

Affected users will receive recovery tokens representing their verified loss, which can be claimed against the recovery pool as it grows.

The pool will be funded through remaining protocol assets, exchange revenue, and partner contributions. We’re working to make the relaunch successful so recovery can move as quickly as possible.

[Tracy | drift @tracybbd]

@goldenhotplasma It will be used to support a healthy relaunch for all users, including exchange liquidity.

The goal is to ensure markets are functional when the protocol goes live again, so trading activity can resume and trading revenue can flow back into the recovery pool.

[Tracy | drift @tracybbd]

@Mockingbirds231 this is dependent on exchange's revenue

[Tracy | drift @tracybbd]

@Snek0xeth Most of the assets in borrow/lend were exploited

You can refer to https://t.co/9e8XLjCzxG for the full list

[Tracy | drift @tracybbd]

@Catholiccu The protocol’s remaining assets that were not taken in the exploit will be used to seed the recovery pool.

More details here: https://t.co/f5T0uzr3tk

[Tracy | drift @tracybbd]

@Snek0xeth what idle funds are you referring to?

[Tracy | drift @tracybbd]

@Alex__Belov I think you're referring to dSOL - which is not part of the protocol.

[Tracy | drift @tracybbd]

@Alex__Belov ~3.8m was the protocol balance that was not exploited.

Not sure where you’re getting $200m from , pls explain

[Tracy | drift @tracybbd]

@Alex__Belov Affected users will receive recovery tokens representing $1 of verified loss. These tokens allow holders to claim from the recovery pool.

Tether's deployment will be based on the exchange’s prior-quarter revenue.

More info: https://t.co/f5T0uzr3tk