Executive summary
In this proposal we ask the community to verify the amounts of osETH and osGNO to be returned to liquidity providers (LPs) in the osETH-ETH and osGNO-GNO pools affected by the recent Balancer V2 exploit and initiate the distribution. The distribution is set to happen via Merkle Distributor, allowing affected wallets to claim the recovered assets via the Merkle Distributor in the StakeWise UI. Note that we are basing our distribution numbers on the LP token ownership figures provided by the Balancer team.
Motivation
The recent Balancer V2 stable pools exploit across multiple chains has unfortunately affected LPs in the osETH-ETH and osGNO-GNO pools on Ethereum mainnet and Gnosis Chain, respectively. ~6,851 osETH and 13,495 osGNO were stolen alongside some amount of ETH and GNO.
Following a swift attempt at recovering some of the stolen assets, on November 3rd 2025 the StakeWise team was able to return ~5,041 osETH and 13,495 osGNO to the DAO address on behalf of affected users. These funds have been awaiting distribution to the affected LPs since.
In this proposal, we establish a methodology for calculating the fair amounts of osETH and osGNO to be returned to the affected LPs, and put forward two distribution lists, for Ethereum mainnet and Gnosis Chain, respectively, for your approval of the upcoming distribution.
Our methodology:
- Look at the LP token balances of all LPs in the osETH-ETH pool (https://balancer.fi/pools/ethereum/v2/0xdacf5fa19b1f720111609043ac67a9818262850c000000000000000000000635) one block before the exploit (23717403).
- Distribute ~5,041 osETH proportionately to the number of LP tokens held by each liquidity provider.
- Repeat process 1 for the osGNO-GNO pool (https://balancer.fi/pools/gnosis/v2/0x3220c83e953186f2b9ddfc0b5dd69483354edca20000000000000000000000b0) one block before the exploit (42954190).
- Distribute 13,495 osGNO proportionately to the number of LP tokens held by each liquidity provider.
The lists of addresses and their corresponding LP token ownership amounts were provided to us by the Balancer team, and were verified internally. The data can be found below:
osETH-ETH LP tokens on mainnet
| user | bpt | gauge | aura | beefy | total |
|---|---|---|---|---|---|
| 0xe2008b01a2ad0a9aeea9f71ecc6a176138553a61 | 0 | 10764.6755177014 | 0 | 0 | 10764.6755177014 |
| 0xecff9446b4fac66ab6d8a41933ada98eb66b38d6 | 0 | 0.0651310509 | 0 | 0 | 0.0651310509 |
| 0x2459ef8c3409a0168e49993fc2f2f4b56042bac7 | 0 | 0.019873178 | 0 | 0 | 0.019873178 |
| 0x0e1d2024f00aa3f785dc7d27603ce5ddc3b96a26 | 0 | 0.0188393404 | 0 | 0 | 0.0188393404 |
| 0x43e0775a55a48e6aabeef66560c2b24f8e86c372 | 0 | 0.0073490508 | 0 | 0 | 0.0073490508 |
| 0xc7a1d2e76d677747f9644ecb43fb293ef7702f82 | 0 | 0.0048984291 | 0 | 0 | 0.0048984291 |
| 0x99a9fff048daedff00961d178219707b9bc2bce3 | 0 | 0.0019883889 | 0 | 0 | 0.0019883889 |
| 0x797756431bfeb29a1bb56c558952015d6e20c36d | 0 | 0.0019644302 | 0 | 0 | 0.0019644302 |
| 0xa97b7a1ba7fb4be94313ee0b7467b559a69ca470 | 0 | 0.0004999623 | 0 | 0 | 0.0004999623 |
| 0xa0dfa7e2f16b394afd86fb346ba0250b6568f66a | 0 | 0.0001961209 | 0 | 0 | 0.0001961209 |
| 0x22ff9a5afa2b3e294154c561342c04f6293ccc99 | 0 | 0.0001033876 | 0 | 0 | 0.0001033876 |
| 0xceb38f0318fc32c9f150dbe341a9d9a5a48ac628 | 0 | 9.8255293810383e-05 | 0 | 0 | 9.8255293810383e-05 |
| 0x406ea761fa359ecf45bda6008cb8c11a782af992 | 0 | 7.6479995333702e-05 | 0 | 0 | 7.6479995333702e-05 |
| 0x1e77b48b0f5aa424c1106557cd396305307ce11f | 0 | 7.3977361945734e-05 | 0 | 0 | 7.3977361945734e-05 |
| 0x65ba947e7a6c563416a3f37906762aaaa92ddaf4 | 0 | 6.5297792291554e-05 | 0 | 0 | 6.5297792291554e-05 |
| 0x68866a4abaa060d5d0308885cf4b466f1b3513eb | 0 | 6.515120968671e-05 | 0 | 0 | 6.515120968671e-05 |
| 0xc0185809810303adf47e1aa38e4b8f379b045d01 | 0 | 6.2078395856589e-05 | 0 | 0 | 6.2078395856589e-05 |
| 0x2bff0d5bc65b920806a50c5e27b879b05a6538ae | 0 | 5.7657511868356e-05 | 0 | 0 | 5.7657511868356e-05 |
| 0x704b2424eba621b5bbf93757bb0de151fb027a63 | 0 | 5.5487845284184e-05 | 0 | 0 | 5.5487845284184e-05 |
| 0x1b2a960f8a98c6f194cbf44c0a7c717bf06a0c09 | 0 | 5.4489441813871e-05 | 0 | 0 | 5.4489441813871e-05 |
| 0xb076bf418b3943285e5535b304404165461730bb | 0 | 5.3302893905001e-05 | 0 | 0 | 5.3302893905001e-05 |
| 0xc8ce766cc0fbe00fb2ac5c035706585555fbae33 | 0 | 4.9972774147859e-05 | 0 | 0 | 4.9972774147859e-05 |
| 0x88e51f14c760b7302bfa9d28f99a75a9d2192c59 | 0 | 4.9126958053198e-05 | 0 | 0 | 4.9126958053198e-05 |
| 0xefa9524ac8703db3a172c605210936a15ec166b1 | 0 | 4.9030227668152e-05 | 0 | 0 | 4.9030227668152e-05 |
| 0xa8b7680e4c377d7fd684b6b067c37c360fa63d34 | 0 | 4.4659781709072e-05 | 0 | 0 | 4.4659781709072e-05 |
| 0xede84ad58b69c93626947355cb4084aab6208fee | 0 | 4.3606947859083e-05 | 0 | 0 | 4.3606947859083e-05 |
| 0x37ff5bd9aa66980a1c92ec51e6de1e51b0ca3317 | 0 | 4.2743732566637e-05 | 0 | 0 | 4.2743732566637e-05 |
| 0xb2ce2dc18fbe788a4445d6d7623669896b77e5d6 | 0 | 4.148720113327e-05 | 0 | 0 | 4.148720113327e-05 |
| 0xd85a7d8ff1188dfa86343667da58d12f82da31da | 0 | 4.0173391449633e-05 | 0 | 0 | 4.0173391449633e-05 |
| 0x1d8b48d43a79b587509588c7e4b125db36f35c96 | 0 | 3.9194873559132e-05 | 0 | 0 | 3.9194873559132e-05 |
| 0xa434e204477ecd41ecbef43bbabf8654c92bcb3e | 0 | 3.9102095235744e-05 | 0 | 0 | 3.9102095235744e-05 |
| 0xb24eee0bbec1a73828abcce86a6e5c303765853b | 0 | 3.9005129819301e-05 | 0 | 0 | 3.9005129819301e-05 |
| 0xfa34fe311e880c999eea9a17f314430a25134d56 | 0 | 3.8734951760387e-05 | 0 | 0 | 3.8734951760387e-05 |
| 0x81d63c7d505eaab5211538a8ab3d24399c6138be | 0 | 3.6057839723366e-05 | 0 | 0 | 3.6057839723366e-05 |
| 0x4d2e44aba1988f42aa45c4189b8ce343b079dcc2 | 0 | 3.5304557723692e-05 | 0 | 0 | 3.5304557723692e-05 |
| 0xd2dd1286d35d7bfa3ed0675b09f3bf4dbf3cca86 | 0 | 2.2761655679806e-05 | 0 | 0 | 2.2761655679806e-05 |
| 0x359bcca1150d6d90127832e24736a49642c0d764 | 0 | 2.2733657421042e-05 | 0 | 0 | 2.2733657421042e-05 |
osGNO-GNO LP tokens on Gnosis Chain
| user | bpt | gauge | aura | beefy | total |
|---|---|---|---|---|---|
| 0x490b23abbf90797830799f78fad420cf88ece81e | 0 | 73.8813681731 | 0 | 0 | 73.8813681731 |
| 0xd145860c3cad12aeec9d8021d36b48d7fad09454 | 0 | 71.3314030762 | 0 | 0 | 71.3314030762 |
| 0xb7e28e5bc7e256a7a29bbdbcb558a8dc297ca8d7 | 0 | 9.624807512 | 0 | 0 | 9.624807512 |
| 0x4d864b0ddec2a861506c8baa676e2d99a4c30a84 | 0 | 6.2061757093 | 0 | 0 | 6.2061757093 |
| 0xb71979375b99ce0752b7f5c7b092c31171c4a7a1 | 0 | 5.9808721672 | 0 | 0 | 5.9808721672 |
| 0xbc5fba1fef0ba69e401cdf97197d75a5f9d9d4c6 | 0 | 5.4301893632 | 0 | 0 | 5.4301893632 |
| 0xe2e4bfbd11e40ad260d5bf7701d52ba2f13d15a9 | 0 | 5.1385429838 | 0 | 0 | 5.1385429838 |
| 0x67aef98e1b78f7b4661c8acc508ed6fbb2d5fb78 | 0 | 3.5318706566 | 0 | 0 | 3.5318706566 |
| 0x852932cbc3001c0f6f03ac88df3e9a94afb1202e | 0 | 2.0185363899 | 0 | 0 | 2.0185363899 |
| 0x034e1f7a66b582b68e511b325ed0ccb71bb4bc12 | 0 | 1.2660187239 | 0 | 0 | 1.2660187239 |
| 0x4c501ebd8372c3357732aa41fb351ef3bb150939 | 0 | 1.0427641293 | 0 | 0 | 1.0427641293 |
| 0xf10581d6ba3d531bc3ce9b24af359089fe7616f1 | 0 | 0.7791285033 | 0 | 0 | 0.7791285033 |
| 0xa75f653684df8355f970db10926befe7665ef704 | 0 | 0.5237861589 | 0 | 0 | 0.5237861589 |
| 0x0ae57350662045c32b34f3b1e70c36e4ef1502e2 | 0 | 0.4476341304 | 0 | 0 | 0.4476341304 |
| 0xa3c66134d9c88c6c0b3e9c488ea2b330a8a61d8a | 0 | 0.1934779073 | 0 | 0 | 0.1934779073 |
| 0xff8fe929ef87f2c840ab9208175298c557ecd53b | 0 | 0.1031604153 | 0 | 0 | 0.1031604153 |
| 0x03c2bfd2509de9b13d0124015077e100a292336d | 0 | 9.9425140069372e-05 | 0 | 0 | 9.9425140069372e-05 |
Based on the numbers above, the amount of osETH and osGNO to be distributed to the affected LPs is as follows:
Distribution to osETH-ETH LPs
| account | osETH |
|---|---|
| 0xe2008b01A2AD0A9AeEA9f71ecC6A176138553a61 | 5041.0657568025 |
| 0xeCfF9446b4FaC66ab6d8A41933aDA98eb66b38d6 | 0.0305006788 |
| 0x2459Ef8c3409A0168E49993FC2F2F4b56042bAc7 | 0.0093065506 |
| 0x0E1d2024F00aa3f785dc7d27603ce5dDc3B96a26 | 0.0088224075 |
| 0x43e0775A55a48E6aabeeF66560C2b24f8E86C372 | 0.0034415388 |
| 0xc7a1d2E76D677747f9644EcB43Fb293EF7702f82 | 0.0022939199 |
| 0x99A9FFF048DAedfF00961D178219707B9bC2BCE3 | 0.0009311566 |
| 0x797756431bfeb29A1Bb56C558952015d6e20C36D | 0.0009199369 |
| 0xA97B7a1ba7Fb4BE94313ee0b7467B559a69CA470 | 0.0002341309 |
| 0xA0DFa7e2F16b394AFd86fb346BA0250B6568F66A | 9.1842843336307E-005 |
| 0x22fF9A5AFA2B3E294154c561342c04f6293CcC99 | 4.8416092078333E-005 |
| 0xcEb38F0318fC32C9f150Dbe341A9d9A5a48ac628 | 4.601266394306E-005 |
| 0x406eA761FA359Ecf45bDA6008cb8c11a782af992 | 3.5815355968989E-005 |
| 0x1e77b48b0F5AA424c1106557cD396305307cE11f | 3.4643380143691E-005 |
| 0x65ba947E7a6C563416A3f37906762aAAA92dDaF4 | 3.0578763305448E-005 |
| 0x68866A4AbAA060d5d0308885cf4B466f1B3513Eb | 3.0510119104459E-005 |
| 0xC0185809810303adF47E1aA38e4B8f379b045d01 | 2.9071129461847E-005 |
| 0x2BFF0D5Bc65b920806A50C5E27b879B05a6538aE | 2.7000842545049E-005 |
| 0x704B2424eba621B5BbF93757Bb0De151fB027A63 | 2.5984794090716E-005 |
| 0x1b2a960F8A98c6f194CBf44C0A7c717bF06a0c09 | 2.5517244693859E-005 |
| 0xb076bf418B3943285E5535B304404165461730bb | 2.4961587812017E-005 |
| 0xc8CE766cC0Fbe00Fb2ac5C035706585555FBae33 | 2.3402102563606E-005 |
| 0x88E51F14C760B7302BFa9D28f99A75A9d2192C59 | 0.000023006 |
| 0xEfa9524AC8703DB3a172C605210936A15ec166b1 | 2.2960710830504E-005 |
| 0xa8B7680e4c377d7fD684B6B067c37c360fA63d34 | 0.000020914 |
| 0xEDe84Ad58b69c93626947355Cb4084aAb6208fee | 0.000020421 |
| 0x37Ff5Bd9aA66980a1C92EC51E6De1E51B0Ca3317 | 2.0016763738514E-005 |
| 0xb2CE2dc18FBe788A4445D6D7623669896B77e5D6 | 1.9428333778811E-005 |
| 0xd85a7D8fF1188Dfa86343667dA58D12F82Da31dA | 1.881308058365E-005 |
| 0x1d8B48d43a79B587509588c7e4b125DB36F35c96 | 1.8354843545096E-005 |
| 0xa434E204477Ecd41eCbef43BBabf8654c92Bcb3e | 1.8311395730228E-005 |
| 0xb24EeE0bBEC1A73828ABcCe86A6E5C303765853B | 0.000018266 |
| 0xfA34fe311E880C999eeA9a17F314430A25134D56 | 1.8139463524895E-005 |
| 0x81D63C7d505EAab5211538a8Ab3D24399C6138be | 1.6885779863483E-005 |
| 0x4d2e44abA1988f42aa45C4189b8cE343B079DCc2 | 0.000016533 |
| 0xd2dd1286d35d7BFA3ed0675b09F3bf4DBf3Cca86 | 1.0659216139577E-005 |
| 0x359bcca1150d6D90127832E24736a49642c0D764 | 1.0646104637677E-005 |
Distribution to osGNO-GNO LPs
| account | amount_gno |
|---|---|
| 0x490b23aBbf90797830799F78Fad420cf88ECe81E | 5317.863994106 |
| 0xd145860c3cAD12AeEc9D8021d36B48d7fAd09454 | 5134.3215407008 |
| 0xb7E28E5bc7E256a7a29bbdBCB558a8dc297Ca8d7 | 692.7784174022 |
| 0x4D864b0DdEC2A861506C8bAA676E2D99A4c30a84 | 446.7107088242 |
| 0xb71979375B99Ce0752B7f5C7b092C31171C4A7a1 | 430.4937163182 |
| 0xBc5fBa1FEf0ba69E401Cdf97197d75a5f9d9d4C6 | 390.8564393123 |
| 0xE2E4BFBD11E40AD260D5Bf7701D52Ba2F13d15a9 | 369.864194338 |
| 0x67Aef98E1B78f7b4661c8aCc508ed6FbB2d5Fb78 | 254.2184621231 |
| 0x852932cbC3001C0f6F03ac88dF3E9a94AFb1202E | 145.2910558371 |
| 0x034e1f7A66b582B68E511B325ED0cCB71bb4bc12 | 91.1260247927 |
| 0x4c501Ebd8372c3357732AA41FB351EF3Bb150939 | 75.0565122788 |
| 0xF10581D6Ba3d531bc3ce9B24Af359089FE7616F1 | 56.0804370176 |
| 0xA75f653684DF8355f970db10926bEfE7665ef704 | 37.7012990396 |
| 0x0AE57350662045c32B34f3b1E70C36E4EF1502E2 | 32.2199965078 |
| 0xa3C66134D9c88C6c0b3e9C488eA2b330a8a61d8A | 13.9262336677 |
| 0xfF8FE929eF87F2C840Ab9208175298c557ecd53B | 7.4253234868 |
| 0x03C2bFd2509dE9b13d0124015077e100a292336D | 0.0071564643 |
Specification
With this vote, 5,041 osETH and 13,495 osGNO will be transferred from the StakeWise DAO addresses to the Merkle Distributor addresses on Ethereum mainnet and Gnosis Chain, respectively. The two distribution lists provided above will be supplied to the Merkle Distributor contract by the team to enable the distribution to begin. There will be no time limit on claiming the funds.
Considerations
Barring any errors in the distribution lists, this is a straigthforward refund process that has previously been used to refund staking fees to Boost users, and retroactively distribute incentive tokens like SSV in StakeWise Vaults using the technology.
Discussion & vote
The Snapshot vote has been created here: https://v1.snapshot.box/#/stakewise.eth/proposal/0x9e28b6b05d8252d792c07bcdbb3e828fb1cf3f4c9e3d9df1472aded4afab0095
Please share your comments & thoughts on the proposal, and feel free to verify our distribution list independently!
UPD 27 Nov: following communication with users in Discord and the team at Balancer, it has become clear that some LP tokens have not been accounted for; the Snapshot has been suspended for now and is pending a recalculation of LP token amounts by the Balancer team.
UPD 5 Dec: the new Snapshot vote with the latest distributions is live.