PancakeBunny | Compensation Plan Revealed: Three Major Subsidies, Two New Tokens, Please Refer to Affected Users!

The well-known BSC mining revenue platform PancakeBunny was hit by a flash loan attack. Although the fund pool was not harmed, its token BUNNY was heavily sold off, causing the coin price to drop by more than 90%. The PancakeBunny team has released a new statement and compensation plan. Original Bunny Holders will receive compensation tokens pBUNNY, and another new token QFI will be issued.

How to Get Compensation?

1. Stake BUNNY Pool: Compensation for Contract Performance Fees

PancakeBunny announced that the original BUNNY single-asset pool will continue to operate and the accumulated contract performance fees before the attack, totaling $55 million, will be distributed to the pool's stakers over the next 90 days. The distribution amount is said to be a proportion of the locked asset TVL ranging from $20 to $30 billion, with the current TVL remaining at $11 billion.

In short, PancakeBunny is distributing the previous contract earnings as compensation.

2. Compensation Token pBUNNY: Airdropped to Original BUNNY Holders

PancakeBunny stated that they will establish a compensation mechanism by airdropping pBUNNY to the original holders of BUNNY, including holders of BUNNY-BNB LP tokens.

Reportedly, there are a total of 1.3 million original BUNNY holders, and the team claims to have taken a snapshot before the attack, with pBUNNY being distributed to holders at the time of the attack.

3. Compensation Pool: Four Sources of Income, pBUNNY+QFI

PancakeBunny stated that they will create a compensation pool with four income sources, and pBUNNY holders can claim rewards from this pool.

The first source, C1, is performance fees from PancakeBunny's contracts, with 30% set to be distributed over the next three months, estimated to be worth $30 million.

The second source, C2, is contributions from the Bunny team. Typically, for every 100 BUNNY tokens produced for the community, the team receives 15 BUNNY, which will also be donated in full.

The third source, C3, is rescue funds. The team is currently cooperating with Binance, and any rescued funds will be allocated for compensation.

The fourth source, C4, is a new token, QFI, airdropped to pBUNNY holders. The team mentioned that they have a lending and exchange project called QFI, with its token QFI to be airdropped 1:1 to pBUNNY holders. The project is said to have lending features like Aave and Venus, as well as interval pricing features similar to Uniswap v3.

Final Compensation Settlement

After the 90-day compensation period, pBUNNY will need to be exchanged back to BUNNY.

According to official estimates, if the market price of BUNNY is $30 after 90 days, each pBUNNY can be exchanged for approximately 4.53 BUNNY, resulting in the creation of 5.89 million new BUNNY tokens.

For detailed calculations, please refer to the official article.

To attract more funds and control circulation, the team stated that they will increase the reward output rate with the formula: BNB market price / BUNNY market price * 125%, and will continue to repurchase and burn BUNNY tokens.