Hector Network, a protocol built on the Fantom blockchain, proposed two suggestions for its neighborhood to vote on after suffering main losses from the Multichain hack earlier this month.

The proposal known as for both liquidating the protocol fully and redeeming its native HEC tokens in opposition to the $16 million price of belongings in its treasury, or migrating the community to a distinct chain below a distinct tag.

The forty eight-hour vote concluded on Monday, with 83% of the neighborhood in want of liquidation. In response to a post on the protocol’s Discord channel, the formulation of winding down will rob six to twelve months after the appointment of a liquidator, upright counsel and an auditor.

The price of HEC is down 62% over the final seven days, and is presently purchasing and selling at $1.17. The protocol’s stablecoin TOR lost its peg to the U.S. buck after the Multichain exploit, falling 85% to around $0.14 on the time of writing.

Despite the incontrovertible truth that the Multichain exploit dealt basically the most attention-grabbing blow, Hector’s troubles started unprecedented earlier with plenty of members of its neighborhood accusing the project of mismanaging the funds in its treasury and “sluggish-rugging” investors.

In response to data from DeFiLlama, Hector’s treasury as soon as held bigger than $116 million price of funds, but has step by step depleted over time. In June, the group disclosed that it had suffered a unfriendly-chain bridge exploit, which resulted in the loss of 650,000 USDC.

“The group has demonstrated, over the route of 18 months, by draw of a variety of actions each and each talked about right here and in the Neighborhood Discord, that their number 1 priority isn’t the token holders,” talked about pseudonymous neighborhood member “Lilbagscientis” to DL Records final month.