Hello Readers!!!
This is an article explaining the EasyFi network Interim Compensation Plan, you need to see this if you hold $EZ of EasyFi Network.
A few days ago, I talked about the EasyFi Security Incident, A malicious attack that happened on the EasyFi Network, dated 19th April 2021. Again, EasyFi is a multichain Layer 2 protocol on three different networks, Ethereum, Polygon, and Binance Smart Chain, this attack has affected only two networks, Ethereum and Polygon, the protocol contract on the Binance Smart chain remains unaffected.
With this, so many things have been affected and the team has come up with a new strategy to keep the treasury healthy while keeping enough runway for the protocol in the long term. EasyFi started raising funds in the ongoing multichain expansion and a sizeable amount has been raised. This will help EasyFi expand protocol infrastructure across new networks and introduce a brand new line of products that is already planned before now.
EasyFi Network also plans to be more focused on adoption and usage, which means users and fans should expect more innovation very soon.
The Compensation Plan
After the incident, the team has carefully analyzed how users are affected and they have made effort to gather all relevant information that will be used in the compensation plan to make it transparent and fair to users who have been affected.
EasyFi Network team has decided to compensate 100% of the user's fund deposited to the protocol contract on the Polygon Network by taking the net balance of each address as per snapshot at block height#13464478 on the Polygon Network, users includes liquidity providers and lenders.
All the lenders/depositors who deposited their assets in all the protocol markets shall be compensated 100% against their net deposits in two parts.
To read full compensation plan by EasyFi Network to their users.
Kindly Click HERE
In the link above, you will be able to read about EZ IOU and the benefits its Holders can get from Holding.
Do not forget,
EZ is the governance token for EasyFi and is currently a highly liquid token on top exchanges like Binance, AscendEx, Bilaxy, Gate, Uniswap, Quickswap & other exchanges.
Thanks for Reading
