News list for " debt token"
According to TheBlock, Sui-based DeFi platform Nemo has announced a compensation plan that includes distributing debt tokens called NEOM. Earlier this month, Nemo suffered a $2.60 million hack. In order to repay affected users, the platform plans to inject recovered funds and some liquid loans and investment payments into a redemption pool.
The previously hacked Sui body DeFi protocol Nemo Protocol released user asset recovery and NEOM debt token plan V1.0, which disclosed that it will not use US dollars to repay all losses, but issue US dollar debt tokens equivalent to the amount of user losses. Ultimately, all users will receive 100% principal compensation to make up for the losses caused by previous security incidents. NEOM debt tokens are a 1:1 dollar-denominated token. The loss calculation will be strictly based on the complet...
In an interview with Caixin, the founder of HashKey Group, Xiao Feng, said that in the era of digital economy, the dollar stablecoin is actually the tokenization of the dollar, the purpose is to continue to maintain and promote the dominance of the dollar. This strategy is combined with the tokenization of U.S. debt, making cryptocurrency the "pick-up man" of U.S. debt. The current attitude of the United States is that if payment clearing and settlement bypasses SWIFT (International Fund Clearin...
