Last time, I wrote Harmony One is 95% Harmony Done. It seems I was wrong. It is 99% that One is Done now. They have made a proposal to reimburse those who were affected by the hack. Link below.
https://talk.harmony.one/t/reimbursement-proposal-horizon-incident/20665/6
TLDR: No bail out. Loss will be reimbursed in ONE tokens. Worst yet:
One holders have NO saying the proposal. All you got is whether those were affected by the hack should be reimbursed 50% or 100%. You gotta bite the inflation proposal.
You gotta sell ONE in centralised exchanges if you would like to buy back your lost tokens like USDC or ETH.
ONE being reimbursed will be MINTED and not from the treasury wallet. Remember who said their treasury wallet could cover the loss. Hell no. They will PERFORM the hardfork to increase number of ONE in circulation. Your ONE will be diluted by new ONE minted in a span of 3 years.
Basically, Harmony team is NOT taking responsible for the hack, they are not gonna pay you a damn thing. It is future investors who are gonna buy new ONE will be paying up for the reimbursement. It is INSANE and ABSURD.
another TLDR: Those who are affected got f***ed twice. They will reimburse you by the worthless token which will be diluted in 3 years as more ONE will be redeemed.
To ONE holders. Be prepared to see a volatility of ONE in a few month. There might be a case it will be pumped by some whales so you could be their exit liquidity.
To me (not a financial advice): One is as good as Done now.
You can get bonuses upto $100 FREE BONUS when you:
💰 Install these recommended apps:
💲 SocialGood - 100% Crypto Back on Everyday Shopping
💲 xPortal - The DeFi For The Next Billion
💲 CryptoTab Browser - Lightweight, fast, and ready to mine!
💰 Register on these recommended exchanges:
🟡 Binance🟡 Bitfinex🟡 Bitmart🟡 Bittrex🟡 Bitget
🟡 CoinEx🟡 Crypto.com🟡 Gate.io🟡 Huobi🟡 Kucoin.
Comments