HectorDAO affected by Multichain, votes to liquidate $16m in treasury
Hector Network is the latest project to have been affected by the Multichain shutdown. The majority of votes move to liquidate assets The Hector Network, a team behind a decentralized finance (defi) project on the Fantom ecosystem, is taking steps to prevent further losses following the bridge hack on Multichain. The project put forth a proposal to the decentralized autonomous organization (DAO), suggesting either to liquidate assets in the treasury or to migrate the Hector Network, the assets, and the HEC token to another chain under a different brand. The snapshot reveals that 196 governance token holders have cast their votes, with 77.68% favoring liquidation over migration at the time of writing. You might also like: Crypto lending protocol Geist Finances ceases operations after Multichain shutdown According to the proposal, the voting period will last for 48 hours, with two hours left before the time lapses. The Hector Network team said the reason for ...
