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UXLINK Sets October 4 Snapshot Vote on Hack Victim Compensation

UXLINK Sets October 4 Snapshot Vote on Hack Victim Compensation

UXLINK unveils details of its Phase 2 compensation proposal, with a focus on early token unlock rates and compensation for hack victims, as a Snapshot vote nears.

Fact Check
The statement is directly confirmed by multiple credible sources. Evidence from CoinMarketCap and crypto.news explicitly states that UXLINK holders were scheduled to vote on October 4 regarding a proposal to unlock tokens to fund compensation for victims of a September hack. Other sources corroborate that a vote on a compensation plan was taking place.
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Summary

UXLINK has revealed its Phase 2 Swap & Compensation Plan proposal, outlining early unlock rates of 8%-12% for community, treasury, and team allocations. Investor tokens will remain on their original vesting schedule. The proposal, with a 99.99% approval rate on Snapshot, will utilize funds to buy back UXLINK tokens for affected users. The final vote is set to conclude by October 9, 2025.

Terms & Concepts
  • Multisig Wallet: A type of digital wallet that requires multiple signatures (private keys) to authorize transactions, enhancing security.
  • UXLINK Token: The native utility token of the UXLINK network, used for governance, transactions, and participation in ecosystem activities.