FILTERED RESULTS
FILTERS
Ads Top
DARK MODE
CHART
MCap $2.8T 0%24h Vol $1009164563.7T 0%Fear & Greed 53/100Alts Index 55/100
BTC.D 59.4% 0%Stable.D 9.5% 0%ETH.D 10.7% 0%Others.D 20.4% 0%
AKE$0.0331+33.47%•BAT$0.2151+24.6%•CARDS$0.2978+13.45%•STRK$0.0868+12.78%•INJ$8.525+11.35%•PROM$5.569+10.21%•ZRO$2.085+10.14%•ZAMA$0.0743+9.89%•PYTH$0.0934+9.69%•SENT$0.0210+8.52%•
BTW$1.984-15.46%•RAIN$0.0081848-14.81%•WAL$0.0507-13.18%•DRV$0.3739-10.1%•BP$0.9276-9.36%•CC$0.1055-8.4%•JST$0.1315-7.24%•CHIP$0.0475-6.92%•A$0.0972-6.34%•BEAM$0.00278033-6.34%•
Top movers 24h
    Filters
      Coins
      Sentiment
      Impact
      Search
      FILTERED RESULTS

        

      Upgrade your plan
      Dashboard

      Backbone Labs' bOSMO Token Faces Redemption Issues and Compensation Plan

      A flaw in the liquid-staking contract for Backbone Labs' bOSMO token on the Osmosis platform has resulted in users being able to redeem approximately 50% more OSMO than they were entitled to since April 2026. This accounting error, which involved double-counting the OSMO staked to Backbone's validator, inflated the redemption rate to about 1.676 OSMO per bOSMO, while the correct figure was closer to 1.117 OSMO per token.

      The situation escalated on October 10, 2026, when a significant redemption transaction of 776,000 bOSMO extracted around 1.3 million OSMO from the community pool, which held about 97% of all bOSMO in circulation. In response, the Osmosis team has announced a compensation plan for eligible holders, but those who purchased bOSMO after a specific block snapshot will not receive compensation.

      Eligible holders will be compensated based on a snapshot taken at block 72,237,940, timestamped at approximately 02:59 BST on October 10, 2026. The distribution of compensatory OSMO is scheduled to begin on October 24, 2026, contingent upon the completion of the unbonding process for the redeemed OSMO. Meanwhile, liquidity for bOSMO has significantly diminished, with recent swaps yielding only about 0.06 OSMO for each bOSMO, highlighting the stark contrast to the correct backing rate.

      For those who bought bOSMO after the snapshot, the outlook is grim, as they are left with a token that is thinly traded and lacks a compensation pathway. The concentrated holdings in the community pool mean that a single coordinated redemption could have a substantial impact, unlike a more widely distributed token.

      © 2026 KLEA News. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

      Source: KLEA News

      .

      Terra Founder Do Kwon Sentenced to 15 Years in Prison for Fraud