VIP-71 AutoFarm Refund and New Collaboration with Venus

VIP-71 AutoFarm Refund and New Collaboration with Venus.

This VIP Proposal is followed by the previously held Snapshot vote help on August 18th 2021. Venus proposal: AutoFarm Refund and New Collaboration with Venus. (


On the 21st of April 2021, there was an incident on the Autofarm platform that resulted in a loss of tokens for users leveraging the Autofarm Venus vaults and created a long lasting issue between the protocols. To come to a conclusion which is beneficial for all affected parties, Autofarm posted a new proposal on the Venus Community Forum. After a successful Snapshot vote, the next step is a VIP vote for both Autofarm & Venus communities to vote on.


The total number of affected transactions on the Autofarm platform amounts to 10839 transactions (see here). The funds in question are currently residing in the Venus Treasury and are awaiting a successful resolution through the appropriate governance channels.

In the proposal, Autofarm proposes Venus to return 85% of the affected assets as can be seen in the table in this article Autofarm Proposal v2: Collaboration with Venus - Proposals - Venus Community

Compensation plan

As seen in the tabe, the total amounts to be refunded are:

  • 254,570.00000000 BUSD
  • 1,936,584.59126978 USDT
  • 1,369,406.64665034 USDC
  • 37.00913319105 BTCB
  • 666.16156780432 ETH
  • 13,709.7090667452 DOT
  • 10,703.2057613293 LINK
  • 12,388.2870590230 SXP
  • 201,408.8075515110 ADA

These assets will be sent by Venus to the AutoFarm treasury on BNB chain:


After the assets are sent to the Autofarm treasury, the assets will be transferred to a designated contract from which the assets will be distributed to all affected wallets.

Currently AutoFarm has ~746 BNB in autoSAFU, AutoFarm will use 50% of the autoSAFU, 373 BNB to buy $AUTO.

That AUTO (approx $108,968) will be reimbursed to affected users as well, on top of the 85% from Venus that will also be used to compensate users, weighted on total loss amount per user.

Autofarm will commit to the following

  • Reimburse the received assets from Venus to all affected wallets; a detailed compensation plan will follow;

  • Reinstate Venus vaults on the Autofarm platform with a newly-worked strategy;

  • In addition, Autofarm will permanently provide discounted fee rates for the reinstated Venus vaults. These will only have a total of 3.6% performance fee and <0.1% deposit fee, in comparison to the other BNB vaults on Autofarm which are at 4% and <0.1% respectively.

  • In the future, these new Venus vaults will also be allocated to earn additional $AUTO or other additional token rewards that would further boost the APY of the vaults.

Venus will commit to the following

  • Return ~85% of the lost assets to the Autofarm treasury as mentioned in the breakdown above.

  • Venus will keep a reward bounty for helping solve this issue of 15% of the assets to fund community approved endeavors.

  • There will be no additional out of pocket cost from Venus protocol.

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