Radiant Capital, a cross-chain lending protocol, has released an update on the recent theft incident, outlining efforts to recover stolen funds and implement a remediation plan. The update also touches on the election of a new community committee.
Recovery Efforts and Relief Funds
Radiant Capital is working to recover stolen funds and raise relief funds, but significant progress has yet to be made. The protocol is encouraging community members to participate in a survey to determine the best course of action.
Remediation Plan and Community Proposal
A community proposal will be submitted to the DAO for voting, outlining three recommended options for remediation. The proposal has undergone committee review and mediation, and the process is expected to be smoother going forward.
Committee Election and DAO Governance
A new proposal is in the works to elect a new community committee, which will replace the first committee. This process will be conducted annually, in accordance with the DAO charter. The governance process is expected to begin soon.
Source: M.theblockbeats.info
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