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# $NearX Reimbursement Plan
- URL: https://www.staderlabs.com/blog/nearx-reimbursement-plan/
- Published: 2022-08-23T14:37:43.000Z
- Updated: 2026-06-05T04:32:11.000Z
- Description: Dear Stader Near Fam,
- Author: Dheeraj
- Tags: Near, #rahul, #medium, Import 2023-10-09 09:03, #staderlabs, #Import 2026-10-28 04:49

**Dear** **Stader Near Fam,**

Thanks a lot for your patience. We have completed indexing of the data before and after the exploit. Further to [**our comms on 18th August**](https://twitter.com/stader%5F%5Fnear/status/1559992693471604736?ref=staderlabs.com) detailing reimbursement to users who lost during $NearX contract exploit, we are sharing information regarding:

1. User eligibility for reimbursement
2. Exchange rate and conversion
3. Contract migration/ re-launch
4. Security measures & timelines

Detailed explanation for each of these is as below:

1. **User Eligibility for Reimbursement**

Users are defined based on two criteria mentioned below:

**Criterion 1: Pre-Exploit via Snapshot**

The exploit happened at the block height of ‘72133414’. The pre-exploit snapshot is being taken one block before the exploit transaction, hence, at the block height of ‘72133413’.

For each $NearX user, the pre-exploit snapshot will capture the following:

1. $NearX Holdings in user’s wallet
2. $Near Holding ($NearX in unstaking period; unstaked $NearX ready for withdrawal)
3. $NearX <> $Near LP on REF and Jumbo

**Criterion 2: During the exploit snapshot**

The Stader smart contract was completely paused at the block height of ‘72140610’. The ‘During the exploit’ snapshot will include all transactions after the exploit till the pausing of $NearX transfers.

For each $NearX user, the ‘During the exploit’ snapshot will hence capture the following transactions between blockheights ‘72133414’ and ‘72140610’:

1. $Near staked on Stader Dapp
2. $NearX unstaked on the Stader Dapp
3. $Near withdrawn from Stader Dapp after unstaking
4. Swapping of $Near for $NearX on Ref and Jumbo LP
5. Swapping of $NearX for $Near on Ref and Jumbo LP
6. Liquidity provision/withdrawal to/from $NearX <> $Near LP on Ref and Jumbo

Users will be reimbursed based on their holdings and transactions as per Criteria 1 and 2 outlined above.

1. Based on the ‘Pre-exploit’ snapshot, the corresponding new $NearX tokens and $Near will be sent directly to the user’s $Near wallet address. Refer to Table 1 in Section “Exchange rate and Conversion” for further details.
2. For ‘During the exploit’ snapshot, $Near spent on interacting with $NearX smart contract and the $NearX<>$Near LP on Ref/Jumbo will be reimbursed.

Current $NearX will be phased out and new $NearX will be issued.

**2\. Exchange Rate & Conversion**

**‘Pre-Exploit’ Reimbursement**

**Table 1**

![](https://www.staderlabs.com/blog/content/images/max/800/1-jamiesvljdhoih5jqdfqcg.png)

Users will receive $NearX and $Near airdrop in the same proportion as their LP holdings pre-exploit

**Illustration 1 : $NearX and $Near in wallet and Dex’s**

Here is an illustrative example of a user’s assets and associated reimbursements:

![](https://www.staderlabs.com/blog/content/images/max/800/1-wuy4icfibkpeu3k7s_xwjq.png)

*Based on the pre-exploit snapshot, the user will hence get a total of 496.81 new $NearX tokens and 294.23 $Near in their wallet.*

**‘During the Exploit’ Reimbursement**

As per transactions considered in Criteria 2, users will be reimbursed for the $Near spent on interacting with $NearX smart contract and $NearX<>$Near LP across Dex’s (Ref and Jumbo) post the exploit and prior to pause of $NearX transfers. For example:

**Illustration 2: Swap on Dex’s**

![](https://www.staderlabs.com/blog/content/images/max/800/1-p4nis1skk0eqyo6uqtypfa.png)

*Total Reimbursement = 43.27 $Near*

Users can review the following [**google sheet**](https://docs.google.com/spreadsheets/d/108AIyW7vGnrW1ts47L%5FRkgKPXKML2lyZ3uQLXFHBvwQ/edit?ref=staderlabs.com#gid=1053541337) to check the balance against their wallet addresses under Criteria 1 and 2.

[**Link to Google Sheet**](https://docs.google.com/spreadsheets/d/108AIyW7vGnrW1ts47L%5FRkgKPXKML2lyZ3uQLXFHBvwQ/edit?ref=staderlabs.com#gid=1053541337)

In case of any discrepancies, users can fill the following [**google form**](https://docs.google.com/forms/d/e/1FAIpQLSfJQSiC4S7XgTkBuzlXORxeNtZGBSnGcVPF86L623SBN%5FIO0Q/viewform?ref=staderlabs.com) to highlight the same before 1st September 2 pm UTC. Please provide relevant transaction IDs clarifying the discrepancy.

[**Link to Google form**](https://docs.google.com/forms/d/e/1FAIpQLSfJQSiC4S7XgTkBuzlXORxeNtZGBSnGcVPF86L623SBN%5FIO0Q/viewform?ref=staderlabs.com)

**3\. Contract Migration/ Re-Launch**

We are exercising utmost caution while we upgrade the contracts. Following are key steps we will follow during this update:

1. Total $Near holdings staked on Stader Dapp will be migrated to a new smart contract and staked across the same validators.
2. The new $NearX tokens minted will be equal in count to the old $NearX tokens with $NearX:$Near exchange rate of \~1.0153\. This is the same as the pre-exploit exchange rate.
3. Our security and audit experts will conclude a security audit on the migrated contracts.
4. The corresponding new $NearX tokens and $Near will be sent directly to the user’s $Near wallet address. The $NearX/$Near LP on REF and Jumbo will be created anew and users can provide liquidity to the new LPs.

**4\. Security measures & timelines**

For reinforced security, Stader is working with various security experts/ audit firms for the auditing of the upgraded smart contracts. The migration and audit is expected to take 2–3 weeks post which users will have access to their corresponding $NearX and $Near.

We will share exact timelines as we conclude audits and contract upgrades on our [**Twitter Near Handle**](https://twitter.com/stader%5F%5Fnear?ref=staderlabs.com) soon.