Hello, everyone. The last few days we held many calls to discuss options and tradeoffs, engaging over 20 validators, 20 community members, and 15 bridge and DeFi partners. We sincerely value engaging and gathering support from our community, partners, validators, and their delegators.
Among all proposals, one strategy is using Harmony Foundation’s treasury for partial reimbursement over months while minting new tokens to replenish the treasury over years. This aims to align the long-term commitment of the team, validators, and community.
Another strategy is increasing and repurposing fees from transactions, instead of burning the fees in the current protocol, towards reimbursement and ecosystem growth. This aims to align the long-term growth of our applications, users, and ecosystem.
We have completed a draft “Summary of the Harmony Horizon Bridge Hack” with the technical details, currently under legal review and to be published soon. Later next week we will also publish a longer blog covering many more proposals and their tradeoffs.
Again, thanks for your patience. We are eager to work with you to find a solution together.
Stephen Tse