Final Compensation Plan and Distribution (Compensation #2)

Dear everyone,

In the past weeks, we have been diligently working to gather all our assets and finalize the compensation plan for our users. We understand the significance of this process and appreciate your patience.

Important Notes:

• Asset Conversion Estimates: The conversion of xAssets (e.g., xETH, xBTC) to their original assets has fluctuated significantly due to varying utilization rates. Consequently, the asset values displayed here are overstated, based on the prices at the block of the exploit.
• Compensation Adjustment: Initially, our goal was to compensate 15% of the total loss value. To account for any rounding errors and ensure fairness, we have decided to increase the compensation to 20%.
• Previous Compensation: Users who have already received compensation amounting to over 20% of their assets will not be eligible for additional compensation.
• Exclusion Criteria: As xBank did not receive any ZK airdrop, users with a wallet balance of less than $100 as of the snapshot date will not be included in the compensation scheme.
• Snapshot Date: The snapshot was taken at block 36488161, immediately after we halted the deposit and repayment features.
• Final Distribution: We deeply apologize for any inconvenience caused and thank you for your understanding. This will be the final distribution of compensation as we no longer have any funds to distribute, given that we never raised funds or generated revenue from xBank.

The compensation will be directly sent to your wallets. Please review the compensation details here: Compensation Details

If you believe you have been missed or if there are any discrepancies, kindly let us know.

Timeline:

We plan to make the compensation to the listed user next week. Thank you for your continued support and understanding.