IMX Incident: Refund Allocations

IBEX Refund Allocations

Liquid tokens: 51,75M

Vested tokens: 34,78M

Manual transfers: 0,72M

  • 272706 IBEX will be transferred to Umami
  • 444340 IBEX will be transferred to DuckDao

Burnt tokens: 12,75M

ETH Refund Allocations

  • 48.78 ETH have already been used to refund lenders on IMX pairs by clearing bad debt.
  • 23.81 ETH will be used to refund liquidity providers and leveraged liquidity providers, by calculating the refund amount as the ETH exposure (ETH provided minus ETH debt, more info under Methodology).
  • The remaining 33.07 ETH will be used to provide initial liquidity for IBEX to the market.

Methodology

IMX holders, lenders and stakers

Users with pending IMX farming reward

Liquidity providers to IMX pairs

  • They will receive as much IBEX as the amount of IMX they were providing as liquidity at the time of the snapshot.
  • They will receive as much ETH as the amount they were providing as liquidity to the IMX-ETH pair. Liquidity providers for IMX-AVAX, IMX-FTM, IMX-MOVR and IMX-QUICK will receive the ETH equivalent based on the conversion ratio. The following conversion ratios have been used: AVAX/ETH: 0.01356, FTM/ETH: 0.0001833, MOVR/ETH: 0.00853, QUICK/ETH: 0.04053.

Leveraged liquidity providers to IMX pairs

  • For both tokens provided we considered net balances. If a user was providing X IMX and had a debt of Y IMX, the balance considered was X minus Y.
  • The total refund value was capped to the value of the equity. Let’s consider the case of a user farming IMX-ETH who had a positive net IMX balance but a negative net ETH balance. In this case the net balance considered for IMX would have been lowered to compensate for the negative ETH balance in such a way that the refund value would match the value of the equity.

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Impermax Finance

Impermax Finance

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