Resolv Foundation Unveils Recovery Plan Following $25M Security Breach

The Resolv Foundation has announced a comprehensive recovery plan to mitigate the damage caused by a recent security breach that compromised the protocol's smart contract and resulted in the loss of approximately $25 million.

According to the plan, token holders who possessed USR or wrapped staked USR (wstUSR) before the incident will be eligible for an exchange at a 1:1 ratio with USDC, a stablecoin pegged to the U.S. dollar. This means that users who held these tokens prior to the breach can recover their full value in USDC.

However, tokens acquired after the security incident will be subject to a different rate, exchanging at a 1:0.5 ratio with USDC. The foundation has emphasized that this distinction is designed to prevent profiteering from the exploit while protecting long-term holders.

In addition to token exchanges, RLP (Resolv Liquidity Provider) holders will receive 0.71 USDC per token and additional RESOLV tokens valued at $0.03 each. This compensation aims to provide fair recompense for RLP holders and align their incentives with the protocol's future development.

The recovery plan is subject to community feedback and may be adjusted as the situation evolves. The Resolv Foundation has underscored that these measures are part of a broader effort to stabilize the ecosystem and prevent further market disruption.