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
2 Hours Ago Tether plans further Bitcoin mining expansion in South America with Adecoagro tie up
1 Day Ago North Korean hackers use fake Zoom updates to deliver ‘NimDoor’ macOS malware targeting crypto firms
1 Day Ago JPMorgan's blockchain unit tests new carbon credit tokenization application with S&P Global
4 Days Ago Ethereum community plans onchain ‘time capsule’ to mark 10th anniversary of network’s genesis block
June 25 Circle's post-IPO stock surge pushes market cap near Coinbase and USDC
delate
Use TokenInsight App All Crypto Insights Are In Your Hands
Open