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BeefyBeefyby0x62d136183CEf3b846c8391A99FF1AaD61bFdC4380x62d1…C438

Allocation of 122 BNB

Voting ended over 3 years agoSucceeded

As per the announcment in Beefy discord:

Regarding https://twitter.com/peckshield/status/1589565084489383937

An unknown actor recovered what was thought to be indefinitely-locked CAKE from a retired vault from 2020. This vault was in a stuck status following the Syrup Incident. (https://medium.com/beefyfinance/2020-11-03-incident-report-cake-drugs-11403bd3e271)

As explained in above Medium, all impacted users had been refunded by a contract which burned their mooToken in return for CAKE provided by PancakeSwap that were otherwise scheduled for burn.

The wallet recovering these tokens was able to to take advantage of CAKE's appreciation to arbitrage the opportunity remove the tokens.

Again, no user funds were impacted, as those affected users were fully refunded in 2020.

As a result of the activity, 122 BNB of profit was generated from the original 4% strat fee. This went to a legacy Reward Pool contract, which the Core Team moved to the Treasury for safekeeping. We would like the DAO to decide on how to handle the tokens.

Off-Chain Vote

Buyback BIFI for Treasury
4.23K BIFI39.3%
Use for Boosts
428.77 BIFI4%
Allocate to BIFI gov pools
6.03K BIFI56.1%
Buy Cake and burn
66.36 BIFI0.6%
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Timeline

Nov 07, 2022Proposal created
Nov 07, 2022Proposal vote started
Nov 12, 2022Proposal vote ended
Oct 26, 2023Proposal updated