SwissBorg remains committed to supporting users affected by the Kiln incident through a clear and transparent recovery process. As part of the Community Recovery Plan, we are now entering its next phase: the Solana Support Grant. This marks the first concrete step in delivering relief to impacted users.
An initial grant to begin the recovery
We are preparing the first grant for impacted users on 17 Dec 2025. The initial grant is expected to total around $4M and will be distributed proportionally among affected users based on their relative share of the impacted SOL strategy at the time of the incident. Depending on market conditions and treasury considerations, it may be issued in USDG (a MiCA-compliant stablecoin) or in SOL.
Additional grants will be released gradually over the coming quarters. Their timing and size will depend on market conditions and SwissBorg’s treasury needs. As stated previously, achieving a full recovery for affected users remains our guiding goal, one we are pursuing responsibly, sustainably, and with the strongest commitment we can provide without jeopardising the wider community or SwissBorg’s long-term strength.
Distribution of the grant
To process the Solana grant and address the losses from the affected SOL Staking Strategy, the following steps will be implemented:
- Release of a new app version
- A new version of the SwissBorg app will be made available, likely requiring a mandatory update by the user.
- Adjustment of impacted positions
- The impacted SOL Staking Strategy will be marked with a 97.7675% loss.
- The remaining 2.2325%, representing the portion of funds that was not lost, will be automatically redeemed and returned to users.
- Mandatory T&C decision
- Impacted users must accept or decline the Support Grant Terms & Conditions by 17 March 2026 before regaining access to the app’s functionalities. Where a user does not agree to the Support Grant Terms, they will cease to be eligible for the program.
- If the user accepts the T&Cs
- The first grant payout will be issued immediately.
- Users will be able to:
- View all past grant payouts,
- See the schedule for the next planned payout (which may occur earlier if additional funds are recovered).
- If the User Declines the T&Cs
- The user will not receive any support grant.
- The user cannot revert this decision later; accepting the T&Cs after declining will not be possible.
A fair and transparent framework
To keep the process fair and consistent, future Support Grants are expected to use the value of each user ’s position at the time of the incident as a reference point. This ensures transparency and alignment for everyone, while giving us the flexibility to adapt as conditions evolve.
Impacted users will receive direct in app notifications with clear details once their grant is ready.
Standing by our community
While the breach occurred at Kiln, we have chosen to make this gesture and support those affected through a structured grant program. This decision reflects our commitment to the integrity of the SwissBorg platform and to the community that powers it.
We cannot reverse the impact of Kiln’s security breach on our SOL staking strategy. We can, however, show what defines SwissBorg. A platform that acts responsibly. A community that stands together. A commitment to doing what is right, even in challenging moments.
