Solution Proposal: Compensate the affected $STX with $STX

Security Incident
1

Compensate the affected $STX with $STX

Even if it is not possible to compensate 100% of all $STX, it is necessary to return the affected assets by any means, including using the $ALEX in the treasury, all other assets besides $ALEX, the $10M received from VC investments, and additional VC fundraising.

The $ALEX in the treasury should be handled in a way that minimally impacts the market (e.g., OTC transactions with VCs). If there is any market impact, there must be a firm commitment to buybacks and other measures whenever the stolen STX is returned in the future.

Even if it takes a long time, the team should ensure that users’ assets are returned as is, assuming that 13 million STX will be recovered, even if it results in a loss for the team.

If a full refund is not feasible, there must be a detailed promise of follow-up measures. This could include providing compensation to those who wait for asset returns by offering a certain percentage of protocol fees earned by ALEX over a specified period, thereby creating a buffer.

Please feel free to share your opinions on whether to receive the stolen $STX as $STX, even if the value of $ALEX decreases, or to receive it as $ALEX according to the current proposal.

4 Likes
2

I want to get my $STX back with the rest of paired assets.

3

Check out “collaboration in crisis” proposal. We need to keep the protocol alive long enough to be made whole and it will be thru various mechanisms. We have a vested interest to get our money back, and the protocol has a vested intrest to continue to profit

4

This proposal has been used as reference in this đť•Ź post: x.com

SEE: Proposal Category 1: Seek Funding from VCs or Borrow STX through Collateralized Loan from Stacks.

5

Check out [choice 5] urgent community concerns – exchange rate clarification , if the exchange rate is fixed for both compensation and redemption, we will be getting the full value of all STX loss in this manner

1 Like