BIP 39: Balanced Restart & Recovery Plan

This proposal represents the approval to proceed with the Balanced Restart and Recovery plan. 469,525.82 bnUSD, 733,550.30 sICX, and 4,006,113.25 BALN has already been recovered to the DAO Fund. Balanced community leaders are discussing with ICON about how to recover the ~2.1M ICX that has been frozen in the attacker’s wallet.

The actions that will be taken include correcting liquidity pool prices and restoring liquidity pool balances. The DAO will also withdraw what liquidity it has left and reassess protocol-owned-liquidity as a next step post-recovery.

Now that the funds have been recovered, the DAO has enough assets to restore liquidity pool balances (not including the DAO’s POL). After this action, the DAO Fund will have the following assets available:

  • ~2.1M ICX after working with ICON
  • ~330,000 bnUSD

This is a total USD value of ~750,000 still available to the DAO Fund.

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