OIP-167: Request to Make Consolidation Users Whole

hOHMwardbound

At 7:49 AM CST on 9/21, our security partners at Hypernative detected unusual activity related to the recently deployed Cooler Consolidation Contract. After analyzing the situation, we identified the scope and nature of the attack and took immediate steps to mitigate it.

As of block 20799042, the total amount affected is $29,383.58 in DAI and gOHM. Though the consolidator was not a core Olympus contract, due to the small impact of losses incurred, we propose to reimburse the impacted users from the DAO Multisig, with the compensation to be denominated in gOHM.

If you are one of the five affected addresses that has not yet revoked both DAI and gOHM approvals, please do so as soon as possible. Any future losses resulting from failure to revoke these permissions will not be eligible for reimbursement.

This proposal will move forward to Snapshot Wednesday October 2nd at 22:00 UTC for voting, following positive support during this condensed OIP stage.

For: Reimburse Affected Users
Against: Do Not Reimburse Affected Users

dr00

I may be biased, but I am in support of the reimbursement of losses from this event.

brightiron

I am in support of this. Although not something the protocol has to do, i think it goes a long way and further anchors Olympus' reputation

Oighty

Affected users should be reimbursed because while the contracts were not part of the core system, they were supported on the Olympus frontend and appeared to be so from a user perspective.