We have a proposal by the team and several community members to give out PERP rewards to the community who were affected in this incident.
Incident details in our Medium post: 2021/2/21 BTC Flash Crash. Flash crashes are a common risk in… | by Perpetual Protocol | Feb, 2021 | Medium
- Reward the affected traders according to the margin they paid to open positions that were liquidated in the crash. The aggregate margin of all the affected traders is valued at around 45K PERP tokens.
- For instance, if a position with 100 USDC as the margin got liquidated during the crash, this trader will receive 100 USDC worth of PERP, vested for 3 months (Starting from 50% and the rest will be vested in 3 months).
- It’s a lot but the amount is within a range that the foundation should be able to afford.
We urge the community to support this proposal. Traders on perp.exchange are early adopters using the protocol despite its infancy (the protocol is only two months old!) and we feel it is important to support them at this stage in the protocol’s development.
Please let us know your feedback below, thank you!
We’ve done the in depth calculations and will put a vote to the community for the following: Perp Liquidation from PositionChanged 2021-02-21 - Google Sheets