Sonne Finance Unveils Compensation Plan After $20M Exploit

馃敟 Sonne's Phoenix Plan

By Sonne Finance
Oct 15, 2024, 11:08 PM
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Sonne Finance has announced a comprehensive plan to address the recent $20M exploit:

  • Launch of SONNEv2 token with 1:10 exchange ratio for v1 holders
  • Initial liquidity of 2.​5M SONNE paired with ~$1M from veAERO/veVELO token sale
  • 22.​5M SONNEv2 reserved for exploit victims, to be distributed via OTC deal
  • Enhanced security measures including new money markets, renewed timelock contracts, and integration of Hypernative
  • 80% of revenue to stakers, 10% for security/marketing, 10% for salaries/growth

The team aims to compensate victims while rebuilding a stronger protocol.​

Sources
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1/ As many of you know, Sonne was exploited, leaving us with a $20M challenge to overcome. Since then, we鈥檝e been working tirelessly to find a solution for the exploit victims, collaborating closely with Conclave (Byte Masons) and other key partners like Yearn, Vesper,

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