The Good Tech Companies - DeltaPrime Reimbursement Plan

Episode Date: October 21, 2024

This story was originally published on HackerNoon at: https://hackernoon.com/deltaprime-reimbursement-plan. DeltaPrime committed to fully compensate all affected users through a combination of strategic measures and community-focused initiatives. Check more stories related to web3 at: https://hackernoon.com/c/web3. You can also check exclusive content about #web3, #deltaprime, #btcwire, #press-release, #deltaprime-announcement, #crypto-exchange, #crypto-regulation, #good-company, and more. This story was written by: @btcwire. Learn more about this writer by checking @btcwire's about page, and for more stories, please visit hackernoon.com.

This audio is presented by Hacker Noon, where anyone can learn anything about any technology. Delta Prime Reimbursement Plan, by BTC Wire. Delta Prime, a leading DeFi prime brokerage, has unveiled a robust reimbursement plan following the recent security breach on September 16. This resulted in a loss of $5.98 million on the Delta Prime Blue, Arbitrum, protocol. Delta Prime committed to fully compensate all affected users through a combination of strategic measures and community-focused initiatives. In response to the incident, Delta Prime has implemented a comprehensive reimbursement strategy that prioritizes user recovery and long-term protocol stability.

Key components of the plan include 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 delta prime generates revenue. Compensation. The RTKNs received by any user equates to 1.4 times their damage in the attack. 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. Founders Contribution In an unprecedented move,

Delta Prime'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. 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.

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 Delta Prime's commitment to maintaining token value while enhancing decentralization. Why full repayment is anticipated Delta Prime'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, Delta Prime 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 attic. The protocol generated $2.7

million in revenue over 2024, $3.6 million annualized, showcasing its ability to generate substantial income even amid challenges within a sustained bear market. These financial metrics underpin Delta Prime's capability to fulfill its reimbursement commitments while continuing to innovate and expand. Enhanced security measures in light of the recent breach, Delta Prime has redoubled its efforts to enhance BOTH protocol and operational security. To reduce smart contract risk, the protocol currently is undergoing its eighth audit with renowned security provider BlockSec. And additionally, Delta Prime 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. Delta Prime 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. Detailed information about the reimbursement plan is available on Delta Prime and any questions can be asked directly by joining the conversation on Discord. Tip This Story was distributed as a release by BTC Wire under HackerNoon's business blogging program. Learn more about the program here. Thank you for listening to this HackerNoon story,

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