TechFlow news — DeFi lending protocol Euler Finance has released its user redemption plan. The recovered funds amount to approximately 95,556 ETH (95,556.36059211764 ETH) and 43.06 million DAI (43,063,729.35 DAI). Unrecovered funds include 1,100 ETH sent by the attacker to Tornado Cash and 100 ETH sent to the Ronin attacker. Additionally, the attacker directly returned 100 ETH to users, of which users subsequently returned 12 ETH to the Euler DAO treasury. The DAO treasury address also holds approximately 4 million USDC (3,396,964 USDC) and 1 million DAI (1,007,321 DAI) from insurance payouts provided by the Sherlock protocol.
For each sub-account, Euler Finance plans to repay all liabilities at the block height when the protocol was disabled. At that point, the on-chain oracle prices defined in the smart contract—either from Uniswap or Chainlink, depending on the market—will be used to determine the ETH value of both assets and liabilities. Each asset within an account (including non-collateral assets) will be proportionally applied to repay liabilities. The net asset values of all accounts will be summed to calculate the total net asset value, and each account will be eligible to claim recovered ETH, DAI, and USDC proportional to its share of the total net asset value. If the value of recovered funds exceeds the total net asset value, the excess amount will be distributed among users proportionally.
