Stream Finance @StreamDefi

IF YOU HAVE ALREADY SUBMITTED THE FORM, DO NOT SUBMIT IT AGAIN.   As part of the next steps toward a potential global resolution, Stream is continuing to collect and confirm information regarding potential creditors and claimants. If you have not yet submitted information, please use the updated website below: forms.streamsoftrestructuring.com   The updated form includes wallet verification as part of the submission process. You will not receive a separate follow-up email requesting wallet verification.   Submitting this form does not establish or confirm any claim, entitlement, or right to payment.   Frequently Asked Questions: x.com/StreamDefi/sta…   IF YOU HAVE ALREADY SUBMITTED THE FORM, DO NOT SUBMIT IT AGAIN.

Stream Finance @StreamDefi

3 months ago

FAQ’s Q: What if I have multiple wallets? - A: Enter your total claim across all wallets and identify the largest ones. If you have more than five wallets with Stream exposure, please submit an additional form Q: How should I price my claim? - A: Enter the claim amount you

2 3 5 18K 2

All – we understand there is concern across the community regarding phishing scams and questions about emails received after submitting the claims form. These emails are valid and the next step toward validating potential claims. Please take note of the points below, and if you have any questions you can reach out to [email protected].    •After submitting the claims form, you will receive a follow-up email from Stretto ([email protected]) requesting wallet verification •Be sure to check the email address it is from, and note the message should properly note the email address and wallets specified in your claim submission •The email contains a link for you to sign each wallet identified in your claims form that you believe has exposure to Stream •Validating the link between wallets and users is critical to evaluating the data asserted in the claims form   To report spoofing or phishing attempts, or to report that you've been a victim, file a complaint with the FBI's Internet Crime Complaint Center (IC3), the Consumer Financial Protection Bureau (CFPB) and the Federal Trade Commission (FTC).

FAQ’s Q: What if I have multiple wallets? - A: Enter your total claim across all wallets and identify the largest ones. If you have more than five wallets with Stream exposure, please submit an additional form Q: How should I price my claim? - A: Enter the claim amount you believe is correct, and include the holding and pricing-date assumptions used to calculate that amount in the description Q: Is there a deadline? - A: No deadline date has been set yet. Please submit the form as soon as possible Q: Can I amend a claim? - A: Yes. Create a new form and note in the claim description that it replaces a prior submission Q: I was exposed through a DeFi platform (Beefy, Silo, Euler, etc.) - what do I enter? - A: Enter the claim value you believe is correct and note the DeFi platform in the Holding Type field. Include any wallets in the “Wallets” section that you believe are linked to that platform Q: My country is not on the list. What do I do? - A: Please select the closest available country and note your actual country in the description, including that it is not listed as an available

As part of the next steps toward a potential global resolution, Stream is collecting and confirming information regarding potential creditors and claimants. Follow this link to submit claim information: na2.docusign.net/Member/PowerFo…. Submitting this form does not establish or confirm any claim, entitlement, or right to payment.

The Stream Trading Protocol (Stream Soft Holding Company) is in the midst of identifying ways to maximize the value of its assets for the benefit of customers and creditors.  The goal is to consolidate, liquidate, and distribute assets as expeditiously and prudently as possible under the circumstances.  To that end, we are considering several different strategic alternatives, all of which will require participation from customers and creditors in some form.  We will provide additional details, likely in the next few weeks. Please continue monitoring the Discord and X channels as well as the Stream website for updates. In the interim, please direct your inquiries to Jeremiah Ledgwidge at Cooley LLP ([email protected]).

@anze____ This is not the external fund manager, this is in house, for clarity zero funds were lost in house.

Yesterday, an external fund manager overseeing Stream funds disclosed the loss of approximately $93 million in Stream fund assets. In response, Stream is in the process of engaging Keith Miller and Joseph Cutler of the law firm Perkins Coie LLP, to lead a comprehensive investigation into the incident. We are actively withdrawing all liquid assets and expect this process to be completed in the near term To keep our stakeholders informed, we will provide periodic updates as additional information becomes available. Until we are able to fully assess the scope and causes of the loss, all withdrawals and deposits will be temporarily suspended. Any pending deposits will not be processed at this time. Our decision to retain Perkins Coie LLP reflects Stream’s unwavering commitment to transparency and robust corporate governance.

The intention was for these funds to always be used as an insurance fund, this is what internal communications have been saying for months, including @klyra's dated investor updates. We agree we have not been as transparent as we should have been on how the insurance fund works. We are working to change this and make it more apparently 1) How / when fees are applied and with what methodology 2) What split of fees goes to insurance fund vs operations (has historically roughly 90-10) 3) We are also in the process of separating the wallets for each strategy and for the insurance fund. This takes time as you know given all the different positions across multiple chains that need to be unwound and moved.

Over the last few days, there have been a lot of questions about recursive looping, what it is, and why we use it. Recursive looping is when a protocol loops its own asset to capture a spread in interest rates. For example, if you have an asset earning 15% that you can borrow against at 10%, on 1x you make 15% (no borrow cost), on 2x you make 20%, 3x 25%, 4x 30%, etc. This increased yield then goes back to users either in the form of yield or our insurance fund. This allows users to earn more while taking on more risk. DefiLlama has decided that recursive looping is not TVL per their own definitions. We disagree with this, but to be transparent to users the website now makes a distinction between user deposits (~$160M) and total assets deployed across strategies. (~%$520M). To make this easier to understand for users and not show different numbers that are confusing, we have also updated our website. We have signed letters of engagement with third party attestation companies and have shared access to our books. These things take time to do right, but we are moving as fast as we can to give users guarantees. In the meantime, our dashboard has been updated with a breakdown of where funds are deployed to. dashboard.streamprotocol.money

@Liquidity4U @x256xx Hi Exit, If you look at the debank addresses provided on lighter, you can see an addition $200M. You can also see transfers from these wallets onchain to CEXs. We agree it is not ideal setup currently which is why we are pushing as hard as we can on attestations.

Happy to announce Stream has signed letters of engagement with various reputable firms, who will be handling our proof of reserves, >400m of our backing is public and transparent on chain, In the mean time we have shared our books to various curators and are in the process of completing a transparency dashboard to make it easier for users to digest Feel free to reach out with any questions regarding this process and we are more than happy to address them all!

@MoistyPoisty @TheDeFinvestor @heyitsStylez @solsticefi Yep! Delta neutral strats are more efficient on CEXs, as you can see w Ethena's distribution

@danyokkuu @domdotx @0xlawlol Just use Stream

@MoistyPoisty @TheDeFinvestor @heyitsStylez @solsticefi Hi Moisty! You are right, there is a big gap right now, given our dramatic growth, some things like the transparency dashboard were not upgraded. We are in the process now of unveiling a new dashboard and having third party attestations. Thanks for the feedback :)

@0x63FaD @Cbb0fe @reservoir_xyz Stream does not curate any markets or participate in any self lending period for full transparency🫡

@kamaromponx Its same structure as Ethena etc, is to process updates in NAV dynamically Should be possible alr

Today was an incredible test for all major protocols Stream has functioned as intended, and remains in profit. A full breakdown of how we managed risks and exposure will be published when the dust settles For those particularly badly hit, we are also hiring! Just use Stream

@apostlehearty BD, technical, front end, everything