Harmony to Allocate Towards Horizon Bridge Recovery Starting in October

Harmony plans to allocate towards recovery starting in October after confirming with partners who are steering the process. These funds will be used for grants to participating partners who will direct the funds to recovery mechanisms. In addition, Harmony will be working with DeFi partners who were affected and active organizations like Recovery One.

Previously, Harmony announced the updates of its Horizon bridge asset recovery proposal, proposing not minting more $ONE nor changing its tokenomics with a hard fork of the protocol. Instead, it proposes deploying the treasury towards both recovery and development of Harmony.

Source

Harmony

Cross-Chain

In This Article

Related News
Omni Network launches 'Core' mainnet to unify Ethereum's fragmented rollup ecosystem Omni Network launches 'Core' mainnet to unify Ethereum's fragmented rollup ecosystem
Omnity Launches Integration to Trade Bitcoin Runes Tokens without Gas Fees Omnity Launches Integration to Trade Bitcoin Runes Tokens without Gas Fees
Chainlink Launched Bridging app Powered by CCIP Chainlink Launched Bridging app Powered by CCIP
Cross-chain Protocol Wormhole to Airdrop 617M Tokens Cross-chain Protocol Wormhole to Airdrop 617M Tokens
Wormhole to Use AMD's Chip to Facilicate Cross-chain Messaging Wormhole to Use AMD's Chip to Facilicate Cross-chain Messaging
Latest News More More
11 Hours Ago 0xbow unveils ‘Privacy Pools,’ a new blockchain privacy tool drawing from Vitalik Buterin’s research
5 Days Ago Ethereum edges closer to deploying Pectra on mainnet with successful upgrade on Hoodi testnet
5 Days Ago MEXC Extends DEX+ Platform to Binance Smart Chain Users
March 25 Binance suspends employee for allegedly profiting off of insider information
March 25 BlackRock launches bitcoin ETP in Europe following US success
delate
Use TokenInsight App All Crypto Insights Are In Your Hands
Open