Altcoins protocol Harmony (ONE), He made a new proposal to his community and partners on compensation for the victims of the $100 million hack that took place in June.
The Idea of Issuing New Altcoins to Cover the Loss Was Reacted by the Community
In the attack, Harmony and Ethereum The Horizon Ethereum bridge, a cross-chain bridge, was used to move assets between blockchains.
The attackers are worth $100 million BUSD, USDC, ETH and WBTC He stole altcoin assets, then continued to launder funds by exchanging all the tokens for ETH.
Harmony offered a $1 million reward to return the stolen funds, but to no avail. Harmony’s core team then submitted a hard fork proposal to issue billions of new Harmony ONE tokens as part of its plan to reimburse hack victims.
At the time, the main team opposed spending the foundation treasury, saying these funds were for growth and ecosystem plans.
The Harmony community did not appear happy with this proposal in the management forum, worrying about the inflationary impact of such a coin issuance. The offer was later withdrawn.
Harmony Protocol Presents Its New Proposal for Compensation for User Damages
In the new proposal, announced today via a blog post, the Harmony altcoin team said that after listening to Harmony’s validators and community, it has adopted the goal of “protecting the foundation of the Harmony Blockchain with 0% new coin issuance” and now proposes to use the foundation treasury for recovery funds:
“We recommend not printing any more ONE tokens or changing our tokenomics by hard fork of the protocol. Instead, we propose to use our treasure for both recovery and development.”
Harmony added that it will provide a detailed update in the coming days outlining the mechanisms for allocating funds allocated for the recovery.
*Not investment advice.
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