GLP V1 Arbitrum - Distribution Plan.

04 Aug 2025, 10:18

GLP V1 Arbitrum - Distribution Plan Thank you to all community members and delegates who participated in the Snapshot vote about the Distribution plan for recovered funds from Arbitrum GLP. A majority of the participating tokenholders chose the Distribution Plan consisting of GLV Distribution + a top-up from the Treasury + 500k incentives. This decision means: • The distributed amounts will be split between the two Arbitrum GLV tokens, resulting in the users receiving approximately 25% WBTC, 25% ETH, and 50% stablecoins — closely mirroring the original GLP composition. • Long-term GLP holders will therefore maintain similar exposure to their original positions, allowing them to continue earning during the claim period and beyond. • The DAO has contributed an additional $2 million from the Treasury to assist in covering the shortfall from the security incident. • $500,000 in GLV will be purchased and distributed to impacted users who claim and hold their GLV for three months. This distribution is a thank you for their continued support of the DAO. • GLV can be redeemed immediately, without lockup or vesting; however, users who redeem the GLV within the first 3 months will not receive a share of the additional $500k distribution. As the next step, users impacted by the disclosed vulnerability in the Arbitrum GMX V1 deployment will soon be able to access their distribution of GLV tokens. These GLV tokens will be claimable by GLP holders through an easy-to-use claim contract hosted on the Stake page of the GMX dapp. Claiming from the distribution contract will include signing an on-chain transaction releasing the GMX DAO and affiliates from further claims. Meanwhile, DeFi protocols that offer products based on GLP and require customised solutions as their contracts can’t directly claim, will be handled separately. These protocols will subsequently announce how the distribution to their affected users will be managed. We appreciate your patience while these tailored solutions are being developed. For a list of the eligible accounts and distribution amounts, as well as an example of the claim process, continue reading on the Governance forum or read the full announcement on X.

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Venus DAIvDAI #1067

04 Aug 2025, 10:58

Hello Venusians! 👋 Are you in Brasil? Meet our Ambassador at Blokchain Rio! 🗓️ 06-07/08/2025 ⏰ 09:00 UTC-3/12:00 UTC 📍 ExpoRio R. Beatriz Larragoiti Lucas, s/n Cidade Nova See you there! — Olá, Venusians! 👋 Você está no Brasil? Encontre nosso Embaixador no Blockchain Rio! 🗓️ 06-07/08/2025 ⏰ 09:00 UTC-3 / 12:00 UTC 📍 ExpoRio – R. Beatriz Larragoiti Lucas, s/n, Cidade Nova Nos vemos lá! @VenusProtocol $XVS #Crypto #DeFi