Thank you for the information. I’m not sure what the response/reception has been like after the above modifications were made. =)
Thank you for all your work and good intentions.
I hope everything turns out for the best!
Thank you for the great news.
However, the users who submitted the withdrawal requests in the previous subvoting round (users not included in Chunk1) have not yet received any compensation. What is the compensation process for this case?
Please provide an update.
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Thank you for your efforts.
However, the refund for my Unstake application has not been completed.
Support via Discord tickets has also stalled midway.
Please address this matter.
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Thank you very much for the updates!
For the compensation for impacted users, when should we expect to hear the updates? It had been more than 3 weeks from the previous post now
Thank you for the information. When the team has time, I would like to ask if you could update us on the progress of the recovery plan that has been implemented - what the current situation is like. This way, in terms of communication, we might be able to support each other in one way or another. =)
@SeiyaChida
As mentioned in recent posts, it’s important to provide regular updates on progress whenever possible.
In particular, although the redemption for nsASTR holders has been completed, those who were in the process of unstaking before the incident are still stuck in limbo.
It was also mentioned that support on Discord (including tickets) hasn’t been active, so this issue needs to be addressed.
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@Maarten
Sorry to ask, but could you please reach out to @SeiyaChida again?
I understand that starting Phase 2 of the repayment may take some time, but there are still people who haven’t received their redemption from Phase 1, and this issue needs to be addressed first. This should be treated separately from any delays related to Phase 2.
However, since there’s been no response on the Discord support tickets either, several people are getting confused and concerned.
Regardless of how long the process takes, having no communication for an entire month is not a good situation.
Even if updates are provided only once a month, that policy should be clearly communicated — and in any case, the users still waiting from Phase 1 need a separate follow-up.
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Message from Seiya:
I’ve been following up with the UB team on this matter a couple of times over the past few weeks, but there’s been no reply yet. I also sent another message today. Soneium BD team has been following up as well.
Once they respond, we’ll need to pause our contract and enable withdrawals for Chunk 1 users who withdrew after the subvoting period and before the post-hack, since their assets were in the form of nsASTR.That’s why we have to wait for UB’s announcement and redeem process for UB users before we can proceed. In short, we’re currently on hold, waiting for UB.
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@Maarten
Thank you for relaying the messages despite being busy (and sorry for putting you in that position).
It would be best if he could post directly himself… but I assume he’s intentionally staying out of the public eye to avoid receiving too many messages.
If possible, I really think this information should be announced to the community as is. I don’t understand why there hasn’t been any explanation of the current situation.
Of course, an announcement may draw some criticism — but it would still be far better than remaining silent.
If the reason is that it might conflict with the acquisition contract, that’s understandable, but even then, the community doesn’t know that, so some form of communication is still necessary.
Well, unless Neemo actually comes here to check the forum, my comments don’t mean much anyway…
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Thank you for your efforts in updating the information.
However, this updated information does not provide a solution for users who requested withdrawals in sub-voting rounds (users not included in chunk1).
Will the issue be resolved for users not included in chunk1 by waiting for the redemption process for UB users, just like chunk1 users?
@seiyaChida, please answer.
Can you share a deeper update on two points the community’s worried about?
Neemo → Zoth alignment?
From your earlier message it sounds like Neemo’s LST/LRT + Vault infra will plug into Zoth’s stablecoin stack (Atlas / ZeUSD). Could you explain how that translates into actual value for previous Neemo users?
In other words: is the plan mainly “help build the new product and earn upside going forward,” or does that tie back to making users whole from before?
Appreciate any clarity you can share.
UntitledBank has announced the compensation portal. Now, anyone who deposited ASTR/nsASTR (even borrow or loop ASTR) can withdraw their funds from UntitledBank.
Once this process is completed and we confirm that users have stopped withdrawing from the NeemoRefundManagerNsASTR contract, we’ll pause the contract temporally and enable withdrawals for Chunk 1 users who withdrew after the subvoting period and before the post-hack, since their assets were in the form of nsASTR.
Also regarding Zoth aquisition, we can’t disclose information because of NDA. We will announce it once we are aligned.
Below is the announcement from the UntitledBank team.
Neemo Finance Compensation Portal Live,
Go to Portal: https://app.untitledbank.co/compensation/neemo,
What Happened at Neemo Fianance?,
During the recent security incident at Neemo Finance, both the Neemo-ASTR Earn Bank and the nsASTR/ASTR Borrow Market were compromised when an attacker borrowed out all available ASTR from the market(bank). For comprehensive details regarding the incident, please refer to Neemo Finance’s official report: https://medium.com/@neemo_fi/neemo-post-mortem-report-76ff2bacb0b8
Untitled Bank’s Compensation Framework,
Neemo Finance’s initial reimbursement plan faced challenges when our Adaptive Interest Rate Model increased borrow interest, discouraging borrowers from returning ASTR. Untitled Bank, Neemo Finance, and Astar Foundation collaborated to create a compensation framework that minimizes losses and protects users. Rather than having users claim directly through Neemo Finance’s compensation portal, we’ll provide a contract to redistribute compensation after obtaining it from Neemo Finance by liquidating positions through nsASTR oracle price adjustment. **
Final Compensation Rates,
After extensive analysis and negotiation between Untitled Bank, Neemo Finance, and Astar Foundation, we’ve established clear compensation rates:
:
: Neemo-ASTR Bank Users: 95% Compensation,
:
: nsASTR/ASTR Market Users: 52.55% Compensation,
How Your Compensation is Calculated,
We use a comprehensive tracking method that accounts for your entire activity history with Neemo Finance: :: Neemo-ASTR Bank Compensation Method Calculate your ASTR principal based on all deposit, withdraw, and share transfer events from Neemo Bank’s creation and apply 95% compensation rate :: nsASTR/ASTR Market Compensation Method Calculate your ASTR principal based on all supply collateral, withdraw collateral, borrow, and repay events from nsASTR/ASTR Market’s creation and apply 52.55% compensation rate Connect your wallet to Untitled Bank x Neemo Fiannce Compensation Portal and check your total compensation amount. :
:Important: The nsASTR amounts displayed on the portal are for reference only. Each transaction has a different nsASTR conversion rate, so simple calculations will not match your actual compensation. Minimum threshold: 10 ASTR total compensation required. If you have only nsASTR collateral to withdraw and no ASTR borrow, you may need to withdraw the collateral manually.
- Go to the explorer.,
-
For withdrawCollaterael,
-
enter ID 7,
-
set the asset to the amount of nsASTR you want to withdraw multiplied by 10^18,
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Provide the address where you want to receive the nsASTR.,
Why These Rates?,
Bank Users (95%): Bank deposits represented lower-risk savings activity and receive higher protection. Market Users (52.55%):** Market activities involved leveraged positions with inherent risks, reflected in the compensation rate. Thank you for your patience. We know this process has taken time, but finding the best possible solution for our users required extensive negotiation and careful planning.
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Thank you for the update!
I understand this must be a difficult process, but I have a few questions.
- You mentioned that withdrawals for Chunk 1 users will begin once the UB process is completed, but it seems like full completion could be difficult. How are you defining the threshold for “completion” in this context?
- Why can’t this process be carried out in parallel with withdrawals for Chunk 1 users?
- How are users handled who, after the incident but before the contract was paused, submitted withdrawal requests and ended up burning their nsASTR?
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Thank you so much for the update! It’s good to see concrete progress on the compensation process — especially the collaboration between UntitledBank, Neemo Finance, and the Astar Foundation. Transparency around the calculation method and compensation rates really helps restore trust. I have a few question for you:
- The 95% rate for the ASTR bank vs 52.55% for nsASTR/ASTR market users makes sense given the leverage risk, but did that mean those users will not get any additional compensation in the future even if there is any additional fund available?
- For the “liquidating positions through nsASTR oracle price adjustment”, Could the team elaborate on how this mechanism works and how it ensures fairness across Astar users?
Thank you for the detailed update and for clarifying how the compensation process will work. It’s good to see clear steps outlined for both ASTR and nsASTR users, along with transparency on the reasoning behind the different compensation rates.
I’ll go through the portal and related contract details, and if I come across anything that needs clarification or further discussion, I’ll reach out.