Nemo Protocol is compensating $2.4M hack victims by issuing NEOM debt tokens, one per lost dollar.
A three-path recovery plan—migration, compensation, and restoration—ensures users have multiple recovery options.
A Redemption Pool will manage recovered funds, with NEOM holders entitled to proportional claims.
The Sui-based DeFi platform Nemo Protocol has said that the compensation plan would be made available for the recent $2.4 million hack victims. To recover their losses, the platform is launching a debt token called NEOM that will pay the victims so that the community can gain back trust.
NEOM Token to Compensate Losses
Per Nemo Protocol’s blog post recently, one NEOM token will be minted for each dollar of loss confirmed. This will be calculated based on a pre-hack snapshot of user balances. Instead of distributing USD, the team opted for a debt token strategy, citing insufficient capital reserves.
Nemo stated, “Our goal is to make every user whole by issui
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