Foresight News reported that Ostium has updated the design of its second-phase recovery plan for OLP holders who lost more than 1,000 USDC and did not choose Convenience Allocation.

According to Foresight News, the plan includes two options: a default Class A payout in USDC installments and an optional Class B allocation in Ostium Labs equity.

Funding for Class A would come from a proportional share of assets recovered after Phase 1 and future recoveries, a designated portion of Ostium protocol and Gateway revenue, initially 50% of Ostium opening fees, and possible partner incentives or revenue sharing.

Class B would be distributed at the next priced financing round and would use the same equity class held by the team, with participating OLP holders receiving up to a fixed percentage of the total equity.

The Phase 2 portal is scheduled to go live on October 30, when eligible OLP holders' outstanding losses will be added to the Class A recovery contract and can be claimed proportionally as funds are deposited.

Holders may indicate in advance how much of their losses they want converted into equity, but the indication will not be binding. At the next priced financing round, they can confirm the actual conversion amount within a selection window and convert at that round's valuation; if total requests exceed the cap, allocations will be made proportionally.

Ostium said the detailed mechanisms and amounts for each class are still being developed, and the recovery plan is voluntary and does not guarantee full loss recovery.