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Cover Protocol Compensation Plan: before 16:11 on December 28, currency holders can get new tokens at a ratio of 1:1

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A total of 4,441 ETH will be distributed to liquidity providers

Rhythm BlockBeats news, on December 30, the DeFi insurance agreement Cover Protocol released a compensation plan after being attacked. Cover said that the snapshot will be taken at the time of the first batch of additional tokens issued by exploiting the vulnerability (that is, the Ethereum block height 11541218, Beijing time on December 28, 2020 at 16:11:06 pm).

Holders eligible to receive new tokens include:

▪️ COVER on Uniswap Liquidity provider of /ETH pool;

▪️ Liquidity provider of COVER/ETH pool on SushiSwap;

▪️ ;All COVER token holders (including those held in wallets and CEX);

▪️ All SAFE2 and SAFE not migrated;

For COVER-ETH liquidity providers on Uniswap and SushiSwap, the official will determine the amount of COVER tokens paired with 1 LP token to The COVER "balance" of each address is determined and new COVER tokens for that amount are awarded. For those users who have the old version of COVER tokens on the centralized exchange platform, the official is working with the centralized exchange to carry out a 1:1 token distribution. Binance has confirmed that they will use the same block height to determine who can earn new tokens.

Users eligible to apply for ETH compensation include:

COVER-ETH liquidity on Uniswap Provider

COVER-ETH Liquidity Provider on SushiSwap

The same team will use the snapshot to calculate each user's ownership percentage of all outstanding COVER-ETH LP tokens and distribute ETH proportionally. The protocol pool received a total of 4,441.8 (4,350 + 1 + 90.8) ETH, and the final allocation amount is the total amount of ETH returned to dev-multisig by developers.