Nemo Protocol: Plans to issue NEOM debt tokens to compensate user losses, will not use USD for compensation
Jinse Finance reported that Nemo Protocol, the Sui-based DeFi protocol previously hacked, has released its User Asset Recovery and NEOM Debt Token Plan V1.0. The plan discloses that all losses will not be compensated in USD, but instead, USD-denominated debt tokens equivalent to users' losses will be issued. Ultimately, all users will receive 100% principal compensation to make up for the losses caused by the previous security incident. The NEOM debt token is a token denominated at a 1:1 ratio with the US dollar. Loss calculations will be strictly based on a complete on-chain asset snapshot at the time the protocol was paused, ensuring fairness and justice.
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