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Orange Finance has returned the funds that Stryke safeguarded to users along with its operational resumption last month.
Now, Orange will proceed with full compensation for affected assets by the exploit on January 8th, 2025.
Users can claim the initial compensation batch through Orange’s UI.
Orange is going to compensate the affected assets fully but in different formats for Vault loss/Approval-related loss and Unclaimed SYK rewards respectively
We will address both vault and approval-related losses through two distinct mechanisms:
Compensation with Time-Locked LP Token
Immediate Compensation
As explained in the article “Orange Finance Operations Resumption & Launch of the Orange Reboot Campaign“, PlutusDAO supports our compensation effort by using its exploited losses as follows:
PlutusDAO temporarily classifies the loss as a debt to Orange Finance.
PlutusDAO distributes its remaining LP position to hacked victims for compensation.
Accordingly, their exploited losses are excluded from this round of compensation.
Compensation with Time-Locked LP Token
Total Amount: $226,204
Paid With: Time-Locked LP Token
Payment Method: Users must claim from the provided contracts
Timeline:
25% claimable at the start
50% claimable in June
25% claimable in September
The exploited amount from the vaults and the approval-related issue will be compensated with a Time-Locked LP token. Orange deposits the compensation amount of $226,204 to the respective vaults and distributes them to the affected user as follows:
The compensation amount above are calculated using each asset's price as of March 11, one day prior to the commencement of compensation on March 12.
The exploited assets from
any WETH-USDC Vaults: Paid with a Time-Locked LP token of WETH-USDC StrykePancake vault
any WBTC-USDC Vaults: Paid with a Time-Locked LP token of WBTC-USDC StrykePancake vault
any ARB-USDC Vaults: Paid with a Time-Locked LP token of ARB-USDC StrykePancake vault
StrykeUniswap BOOP-WETH Vaults: Paid with a Time-Locked LP token of WETH-USDC StrykePancake vault
Please note that the value of a Time-Locked LP token may vary during the lock period based on vault performance, just like a non-locked LP token.
25% of the exploited funds will be claimable from the provided contracts at the beginning of the compensation period, while 50% will be claimable in June and the last 25% in September respectively.
Important: Some users received overpayments during the last payment. The excess amount will be deducted from this compensation round for those users. This adjustment does not affect the total compensation amount.
Immediate compensation
Total Amount: $44,702.70 (using the asset price as of February 13, as applied to the last time payment)
Paid With: USDC
Payment Method:
Transfer to the affected wallets directly
Timeline: Full repayment at once
Some funds were unpaid in the last payment for the return of the funds protected by Stryke.
We compensate these unpaid funds of $44,702.70 this time, which are already transferred directly to the affected wallets at the beginning of the compensation period.
Any unclaimed SYK/xSYK rewards will be fully compensated as SYK/plsSYK. Details on the process and timeline will be announced as soon as they are finalized.
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