Hi, and thank you for a measured message on a topic that has caused real harm to real people. Let me be as clear as I can on each of your questions.
Is [RFC] Arbitrum USDC Vault (OLD) User Reimbursement still active, or on hold / abandoned?
Neither “moving to a SIP” nor “abandoned” describes it accurately. The honest status is: open, but paused, and never promoted to a SIP. It has not been formally closed, but under current conditions no contributor or delegate has been able to put a fundable proposal in front of governance.
The reason is the one laid out in the thread, and it hasn’t changed. The loss is ~$1.49M USDC across affected depositors. A reimbursement denominated in SUMR at current price and liquidity would require selling more SUMR than the entire DAO treasury holds, crashing the very asset used to pay you, so recipients would receive cents on the dollar. A reimbursement streamed from protocol revenue, at today’s revenue, is a multi-decade horizon. These are arithmetics that I posted openly before.
What that leaves as genuinely realistic is a trigger-based path rather than a calendar date: reopening a concrete proposal if and when the debt receipts the DAO still holds against Silo become recoverable at the Silo level. Nothing has triggered yet, which is the frustrating but truthful state.
On consistency with the July 6 incident
This is a fair question and I want to answer it precisely, because the two situations look similar but the mechanics differ in a way that matters. The July 6 remediation is largely about returning the affected vaults’ own remaining, reclaimable USDC, the capital still sitting in asynchronous-withdrawal arks to those vaults’ depositors, minus the attacker’s shares, via a Merkle distribution. It is asset return, not the DAO treasury funding losses out of pocket, which has been approved, executed, and is in progress now.
Your case is different in one hard respect: the Arbitrum loss became bad debt held at Silo, so there is no pool of the vault’s own reclaimable assets to hand back. A comparable “return what’s recoverable” mechanism for you depends on a Silo-level recovery that hasn’t materialized. So I can’t honestly tell you the July 6 framework sets a precedent that mechanically applies to you.
I’d also note the DAO is currently working through an operational realignment for the transition period.
- [RFC] Determining the Future Direction of Lazy Summer DAO
- [RFC] Operational Realignment for the Transition Period
… there you can find the latest discussion, polls and more.