EasyFi Final Compensation & Token Distribution
Following the EasyFi Interim Compensation Plan which was a big plan by the EasyFi Network team to compensate 100% of the lenders/depositors net balances, the team onboarded new strategic investors and backers to help expand the protocol operation and business.
Now, is the Final Compensation Plan and distribution, which is aimed at 100% compensation for the protocol users who have been affected by the security incident.
The team has put a lot of things in place before they could move ahead with distribution, these things took a lot of time but have finally been sorted and the distribution took place on the 2nd of June and it lasted 48 hours.
Below are the comprehensive preparation steps before the distribution took place:
- Account reconciliation
- Data Finalization
- Contracts for EZ IOU
- Integrating EZ IOU
The distribution to users is planned based on their total net asset value deposited, the team has distributed assets in full to users whose total net asset is less than or exactly $1000 while users with more than $1000 total net asset value will be given 25% upfront compensation in respective assets, the remainder 75% will be in EZ IOUs.
The team has also planned to put in place a new dedicated dashboard that will let users swap their EZ IOUs with EZ. There are also different reference prices of assets that will be used for final distribution, see below for asset prices;
You can see here for a detailed explanation, calculations of assets to be distributed, and examples of already calculated distributions.
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