1 Million Payback
Quick Update, that all of you will be happy about!
We have initiated our Ironbank loan for 1 Million USDt, and have distributed these to all affected LPers!
How Will the Reimbursement Work?
As part of the repayment process, we would like to make the process as clear and transparent as possible.
As a result, we have broken the reimbursement process into 4 main steps below:
Step 1: The Ironbank Contract
The Popsicle Finance Team has made a deposit of 2,000,000 ICE was made into the following Ironbank contract: 0x085682716f61a72bf8C573FBaF88CCA68c60E99B
This contract is owned by a multisig between the Popsicle Team, Cream Deployer and Cream Team.
1,000,000 USDt was then borrowed and was bridged over to Fantom Network to this address: 0x314e9c5BbDCb8eA9d779b39718665a31e49F7A21, which has then dispersed the funds
Step 2: Disbursing 0.35 FTM To Each Affected Address
We have also dispersed 0.35FTM to each address in order for you to Bridge the USDt back to Ethereum or for you to be able to make any transaction/swaps etc.
Step 3: Verifying Your Reimbursed Amount and Remaining Balance
In order to verify the amount owing to you as part of the first Ironbark repayment, we have set up google sheets with anonymized addresses that were affected by the hack.
This Google Sheet can be accessed via the following link.
This contains a number of important columns which we will list below:
- Anonymized Address: This correlates to the anonymized address that has lost funds as part of the hack.
- Total Amount of USD across pools: This is the total amount lost in the hack for the associated address.
- First Repayment Share in fUSDT: This is the first Ironbank repayment amount.
- Left To Be Paid: This is the difference between the total amount lost in the hack (total amount of USD across pools) minus the first repayment share.
If you look closely, you will likely realize that the amount we are paying back is $18.58 million and not $20 million. This is because we have reason to believe that one address that was LPing was actually one associated with the hacker. We are not repaying these funds. If the owner of the address comes forward and proves via the Tornado Cash Compliance tool that he is not affiliated we will pay back to this address.
Step 4: Claiming Your fUSDT
One of the questions you may be asking is “If I have never used Fantom before, how do I retrieve my funds?”
If you have never used Fantom before, and are looking to retrieve your repayment funds, the first step is to add the Fantom Opera Network to your Metamask.
To learn how to do this you can find a manual here: https://docs.fantom.foundation/tutorials/set-up-metamask
Once you have added it, on Metamask go to your wallet and you will see you own some FTM, to see your fUSDT click on “Add Token”.
Then add the fUSDT token contract which is: 0x049d68029688eabf473097a2fc38ef61633a3c7a
Thereafter you will see your fUSDT in your Wallet!
If you would like to bridge these over to Ethereum or a different network you can read our good friend Ceazor’s article on using Multichain.xyz here or watch his video here.
If anything is confusing to you or you need any sort of help you will always find us in our Discord!
Onwards and upwards, the next weeks are going to be really exciting!
