Hector Network Faces Liquidation Decision After Multichain Hack

Hector Network Faces Liquidation Decision After Multichain Hack



The Multichain shutdown has had an impact on the latest project, Hector Network. The majority of votes have been cast in favor of liquidating assets. Hector Network, a team responsible for a decentralized finance (defi) project on the Fantom ecosystem, is taking measures to minimize further losses following the bridge hack on Multichain.



The team has proposed a course of action for the decentralized autonomous organization (DAO). They suggest either liquidating the assets in the treasury or migrating the Hector Network, its assets, and the HEC token to another blockchain platform under a different name.



Based on the current snapshot, 196 token holders have participated in the vote, with 77.68% supporting liquidation over migration at the time of writing. The voting period will last for 48 hours, with two hours remaining before it


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#Adoption, #Altcoin, #Bitcoin, #Blockchain, #Cryptocurrency, #Cryptomarket, #Cryptonewstoday, #Ethereum, #Hector, #HectorNetwork, #MultichainHack, #News, #Regulations

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