For Crypto Investors Down Bad in Hector, the DAO Can’t Die Fast Enough
Hector Network will take six to 12 months to hold a liquidation. Token holders want their money back sooner. Original Source
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Hector
Hector (HEC) to Liquidate Crypto Treasury Amid Fallout From Multichain Collapse
Hector now plans to redistribute the proceeds of its treasury to HEC holders proportionally and based on their positions as of July 14. The final amount distributed could be lower than $16 million, as “all contractual, statutory and other legal obligations, including costs of the liquidation, must be fully settled”
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Hector Network Fight Centers on Efficacy of DAO Governance
For more than an hour, members peppered the lawyer, who identified himself as Dali from the tech law firm Sparring, with questions about HIP 40, a proposal to wrap Hector Network within an offshore corporate structure that includes directors, supervisors and a management board. In other words: an organization with
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DeFi Project Hector Mulls Legal Wrapper to Shield DAO
That setup would ensure Hector’s own employees would have final say over all proposals considered by the DAO. The only non-employee, the pseudonymous Sonoro, is currently the chief of a group of “oracles,” community members who currently have the power to write HIPs but under the new setup have the
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