After the Drift hack, Project 0 has resumed operations, but the haircut for the lenders is pretty severe. It’s said to be an average loss of 2.61%.

USDC and SOL, USDT only need a 1% reduction, but BTC and ETH are at 2.61%. WIF and BONK are even worse, with cuts up to 6.62%. Since there’s about $1.91 million in remaining losses, they seem to have decided to distribute that to the credit pool.

Due to this hacking attack, until Drift’s assets gradually recover, the actual haircut might be slightly smaller. Some members of the community are unhappy with the unified pool system. Loss distribution in such situations is really challenging.