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Nemo Protocol Introduces NEOM Token to Compensate $2.4M Hack Losses
Nemo Protocol Introduces NEOM Token to Compensate $2.4M Hack Losses
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BTCCSquare news:
The Sui-based DeFi platform Nemo Protocol has unveiled a compensation plan for users affected by a recent $2.4 million hack. The solution involves issuing NEOM tokens equivalent to the USD value of losses, as the platform lacks sufficient capital for direct reimbursement.
Nemo's debt token strategy acknowledges fluctuating valuations, with the company pledging full transparency in calculating losses and distributing tokens. The recovery framework offers three options: migrating assets to secure contracts, immediate NEOM redemption, or holding the tokens pending future recovery efforts.
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