The proposal garnered overwhelming support through a conclusive voting process.
The attack specifically targeted a vault associated with ALEX’s liquidity pool, impacting all assets housed within it. Notably, approximately 13.7 million STX tokens were compromised. With approximately 3 million STX subsequently transferred to various centralized exchanges (CEXs).
Source: X
The approval of the governance proposal underscores the community’s commitment to mitigating the impact of such incidents and supporting affected stakeholders. By utilizing 100% of protocol revenue for additional grants to Recovery Certificate holders, ALEX aims to expedite the recovery process and restore confidence in its ecosystem.
Moving forward, ALEX will continue to enhance its security protocols to prevent future breaches and safeguard user funds. The governance decision reflects a proactive approach to addressing challenges within the DeFi space, emphasizing transparency, accountability, and community resilience.
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