Plan of corrective actions for stATOM vault liquidations on Harbor Protocol

Harbor Discussion
1

Dear community,

In light of the recent stATOM vault liquidations caused by an oracle failure on Harbor, we would like to propose some corrective measures that can be taken to ensure all affected users can be made whole. Once again, we would like to say that we are aware of the inconvenience this incident has caused and are highly appreciative of your patience and support as we do our best to correct this.

Firstly, we propose to temporarily waive opening fees for the creation of new stATOM vaults. This proposal would, for the next 60 days, waive any opening fee that would be charged to users seeking to open new stATOM vaults. This would ensure that users wishing to re-open their stATOM vaults would be able to do so, without having to pay the opening charge twice.

The team is committed to making affected users whole. We are currently in the process of calculating the exact losses that users would have suffered during this incident. We request further patience and support from you as we finalise the details of how we can resolve these reimbursements as swiftly as possible.

We remain continued to improving and delivering a secure and efficient ecosystem of products to our community and are grateful for the support received this far.

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Thank you to the team for addressing the recent incident and proposing solutions to assist affected users. We appreciate your efforts in resolving the situation and maintaining a secure ecosystem.

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I think that it is a good move to waive fees.

It is a nice symbol towards the people affected that they can re-enter their positions without being charged a new fee.

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I am injured and I support any proposal that will return my funds. Security and trust are the basis. Only a good and justify community has a chance to develop

1 Like