BIP 98: Restitution Badger Bridge Lost Funds

TLDR: Users lost funds using the Badger Bridge. The circumstances to which these funds were lost required a very unique set of interactions by the user with the bridge contracts. As a result native BTC was deposited & the users were unable to retrieve the equivalent BTC on Ethereum.

Bridge Summary:

The Badger Bridge was built on top of Ren’s core tech stack similar to the https://bridge.renproject.io/ The Badger implementation was created and managed by Polymer Labs with Badger DAO support Polymer created, maintained and upgraded bridge contracts and Badger DAO provided additional testing and front end support Badger, Ren and Polymer Labs each received about 20 BTC in revenue from the Bridge during its lifetime Ren and Polymer have declined to accept any responsibility for the loss or for restitution Losses and Proposed Restitution:

User 1 Lost 17 BTC. The user has agreed to accept a settlement of 50% of 17 BTC in the form of BADGER tokens at the current USD exchange rate which is ~$163,000. User 2 lost .086 BTC. This proposal is to provide 100% restitution to the user in the form of BADGER tokens at the current USD exchange rate which is $1,650.