2024

DeFi

Security

<p>DeltaPrime, a leading <a href="http://thenewscrypto.com/tag/defi/" target="_blank" rel="noreferrer noopener">DeFi </a>prime brokerage, has unveiled a robust reimbursement plan following the recent security breach on September 16th. This resulted in a loss of $5.98 million on the Deltaprime Blue (Arbitrum) protocol. DeltaPrime committed to fully compensate all affected users through a combination of strategic measures and community-focused initiatives.</p> 
<p>In response to the incident, DeltaPrime has implemented a comprehensive reimbursement strategy that prioritises user recovery and long-term protocol stability. Key components of the plan include:</p> 
<ul class="wp-block-list"> 
 <li>Reimbursement Tokens (rTKNs): All affected users will receive rTKNs, representing $1 of future revenue until full reimbursement is achieved. These tokens are fungible and can be exchanged for their dollar equivalent over time as DeltaPrime generates revenue.</li> 
 <li>Compensation: The rTKNs received by any user equates to 1.4 times their damage in the attack.&nbsp;</li> 
 <li>Stability Pool Allocation: The Stability Pool will contribute $1.33 million towards reimbursements, reducing the total impact to $4.65 million. This pool has been built through platform revenue and liquidation fees.</li> 
 <li>Founders’ Contribution: In an unprecedented move, DeltaPrime’s founders have committed 33% of their team allocation of PRIME tokens for sale at a discounted rate to affected users. 100% of the dollars raised will be donated in an effort to make every affected user whole as fast as possible.</li> 
 <li>Incentives for Continued Participation: Users who maintain their savings within the protocol will benefit from accelerated reimbursement rates, receiving repayments twice as fast compared to those who withdraw entirely. This approach encourages sustained engagement, supports the protocol’s recovery and growth and, in turn, leads to faster reimbursement for all affected parties.</li> 
</ul> 
<p>The PRIME tokens offered by the founders present a unique opportunity due to their heavily discounted price and non-inflationary mechanics. This initiative aligns with DeltaPrime’s commitment to maintaining token value while enhancing decentralisation.</p> 
<h2 class="wp-block-heading" id="h-why-full-repayment-is-anticipated">Why Full Repayment is Anticipated</h2> 
<p>DeltaPrime’s confidence in achieving full repayment is grounded in its historical performance and robust financial health. Over its one-and-a-half years of operation, DeltaPrime has consistently demonstrated strong growth, with an average of $44 million in user deposits over 2024, and an average of $64 million over the 30 days prior to the atack. The protocol generated $2.7 million in revenue over 2024 (3.6 million annualised), showcasing its ability to generate substantial income even amid challenges within a sustained bear market. These financial metrics underpin DeltaPrime’s capability to fulfill its reimbursement commitments while continuing to innovate and expand.</p> 
<h2 class="wp-block-heading" id="h-enhanced-security-measures">Enhanced Security Measures</h2> 
<p>In light of the recent breach, DeltaPrime has redoubled its efforts to enhance both protocol and operational security. To reduce smart contract risk, the protocol currently is undergoing its 8th audit with renowned security provider BlockSec.<br>Additionally, DeltaPrime has implemented rigorous operational security protocols, including comprehensive internal security workshops, a replacement of all physical devices through a reputable supply chain and enhanced monitoring systems for real-time threat detection. These measures are designed to safeguard user assets and rebuild trust within the community.</p> 
<p>DeltaPrime remains dedicated to rebuilding trust with its community through transparent communication and decisive action. The protocol’s ongoing security enhancements and strategic partnerships underscore its commitment to user fund safety and operational integrity.</p> 
<p>Detailed information about the reimbursement plan is available on <a href="https://deltaprime.io/blogs/academy/deltaprime-post-mortem-and-reimbursement-plan" target="_blank" rel="noreferrer noopener nofollow">DeltaPrime </a>&nbsp;and any questions can be asked directly by joining the conversation on <a href="https://discord.com/invite/9bwsnsHEzD" target="_blank" rel="noreferrer noopener nofollow">Discord</a>.</p> 
<p><strong>Disclaimer</strong>: TheNewsCrypto does not endorse any content on this page. The content depicted in this press release does not represent any investment advice. TheNewsCrypto recommend our readers to make decisions based on their own research. TheNewsCrypto is not accountable for any damage or loss related to content, products, or services stated in this press release.</p>

DeltaPrime Reimbursement Plan

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