Resolv Foundation Sets Compensation Plan After March 22 USR Security Incident

According to Resolv Foundation, claims will run from May 26 to August 26, with USDC redemption terms for USR and wstUSR varying by whether holdings were held before or after the March 22 incident.

USDC

Summary

Resolv Foundation released a recovery and compensation plan following the March 22 USR security incident. The framework allocates 10% of the RESOLV token supply for compensation, redeems pre-incident USR and wstUSR at 1:1 in USDC, and redeems post-incident holdings at 1:0.5 in USDC. The plan also resets RLP to 55% of its prior reference price, defined as 0.71 USDC plus 2.71 RESOLV. Claims are scheduled to open on May 26 and close on August 26.

Terms & Concepts
  • USDC: A U.S. dollar-pegged stablecoin designed to maintain a 1:1 value with the dollar.
  • wstUSR: Wrapped staked USR, a tokenized version of staked USR that can be transferred or used in blockchain applications.
  • Token supply: The total number of tokens created or allocated within a crypto project’s issuance structure.