blockchain business Cryptocurrencies defi Hackers

Tribe DAO votes in favor of repaying victims of $80M Rari hack

Reading now: 823

After months of uncertainty, the Tribe DAO has passed a vote to repay affected users of the $80 million exploit on decentralized finance (DeFi) platform Rari Capital's liquidity pools.Following several rounds of voting and governance proposals, Tribe DAO, which consists of Midas Capital, Rari Capital, Fei Protocol and Volt Protocol, took the decision to a vote on Sept.

18 with the intent to fully reimburse hack victims.Data from on-chain voting platform Tally shows that 99% of those who voted were in favor and the proposal was executed on Sept.

20. According to the description underneath the voting data, individual users will be paid back in FEI, while DAOs will be paid in DAI.

Users would also have to sign a message releasing any liability.Fei's founder Joey Santoro on Twitter said the payment would be made 24 hours after the passing of the vote.

The website is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.

Related News