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remBADGER
The remBADGER token was airdropped to eligible users as part of the restitution plan outlined in BIP 80 Part 1 and Part 2. The supporting vault will allow the value of the underlying token to increase and accrue rewards over time as additional funds are added and emissions are distributed through the tree.
Important Note: Withdrawing from your remBADGER position is a one-way transaction. Once withdrawn, you will not be able to re-deposit, and as a result, agree to forfeit any future accrued BADGER rewards emitted throughout the designated restitution period as outlined in BIP 80.
Should assets be withdrawn, the forfeited BADGER rewards will be distributed equally amongst the remaining remBADGER holders.
Badger Allocation to Restitution
As per the successful passing of the BIP 80 (a) snapshot, it was decided that a total of $2M USD in BADGER would be allocated toward restitution over the course of two years.
A total of 600K BADGER tokens have been seeded to the remBADGER vault with an additional 600K being deposited over the course of 2 years. Throughout that 2 year period, another 800K BADGER tokens will be distributed via the tree as claimable rewards for holders of the the token.
Program Reassessment
After the initial amount of dedicated BADGER has been dispersed, and then after every year, this program will be reevaluated for how successful it has been.
The main metric of success will be how much value has been returned to exploited Badgers measured in USD at current market prices and this will be used in comparison to the amount of assets lost on Dec 2nd, 2021 as measured in USD based on pricing at the block before the first exploit transaction.
BIP's & Snapshots
Last modified 4mo ago
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