TL;DR
After the $9.6M zkLend exploit, I propose using unallocated DeFi Spring rewards to partially compensate victims. This honors Starknet’s commitment to users, reignites investor trust, and aligns with our “DeFi Spring” ethos.
As zkLend is the major ecosystem protocol, lack of action from the governance will lead to destructive impact in terms of confidence towards StarkNet ecosystem in the long run.
Suggestions
Starknet Foundation directly negotiate with the relevant parties to acquire the ZKLEND platform and fully compensate all the affected users.
Potential sourcing could be from treasury or reallocating remaining defi spring rewards.
Why This Works:
No new inflation: Uses existing DeFi Spring funds (already budgeted).
Win-win: Victims recover losses and stay invested in Starknet’s growth.
Signal to investors: “We protect users” → More capital inflow → STRK demand
Why Vote YES?
Fix the stain: Proactive compensation = Stronger reputation.
Preserve DeFi Spring momentum: Investors see Starknet as “safe” to build/play.
Bail out? In crypto? Negative ghost rider. We all accept the risks associated with whatever protocols we engage with. If the zkLend terms and conditions did not specify and provide means for a bail out, then there is no bail out. If the Starknet DeFi Spring terms and conditions do not specify and provide means for a bail out, then there is no bail out. We don’t get to re-write history when we realize we made a costly mistake. Most people involved in crypto have made mistakes that have cost them dearly, myself included, it’s part of the learning and growing process.
Additionally, $9.6 million dollars is an incredible amount of money. Asking any entity to cover that loss is preposterous. If the Starknet and larger crypto community want to help those who were severely affected by this attack, then perhaps someone at zkLend can complie a list of wallet addresses, along with their losses, and post them on a website. People can then donate willingly.
I agree with the previous poster. Crypto is the wild west. I did not see anything in Stark’s or ZkLend’s terms suggesting a bail out.
I can see some upside to the original post, however those who were burnt, while they will appreciate the bail-out I doubt they will ever return. Defi spring is to attract new users, and as sympathetic as this gesture would be, I do not believe Stark would see a return on investment.
No se cumpliria el objeto de las recompensas del DEFISPRING, ademas los usuarios afectados de Zklend son muy pocos, para el universo de dinero comprometido, ademas los que usamos defi aceptamos los riesgos y en epsecial ellos que tienen esa cantidad de dinero, y si trataran de compensar debiera ser a los que tenen menos de 1000 usdc, asi abarcan mas usuarios y optmizan los recursos
This isn’t the way to go. Do we start doing relief packages for every dapp that gets compromised in the ecosystem? I think what we should be focusing more on is to prevent situations like this to happen which is why I’m genuinely glad the the SN foundation is taking steps to bring more (and train) security focused entities like the recently launched Cairo smart contract security course.