The post Web3 Platform Lets Users Decide on Token Unlock After $11M Hack appeared on BitcoinEthereumNews.com. Altcoins After suffering an $11 million exploit in September, Web3 social hub UXLINK is trying a new approach to rebuilding trust – letting its own users decide how recovery will unfold. Over the past week, the project opened a community vote to finalize what it calls the “Phase 2 Swap & Compensation Plan.” The proposal aims to release a portion of locked tokens to fund reimbursements and stabilize liquidity, effectively turning token governance into a rescue mechanism. A Grassroots-Led Reset Instead of issuing a top-down directive, UXLINK’s developers placed the decision in the hands of token holders. The proposal, live on Snapshot until October 9, gives the community a choice: unlock a limited amount of UXLINK tokens early, estimated between 8% and 12% of supply, or stick to the original vesting plan. If approved, the unlocked tokens won’t go into circulation immediately. They’ll be transferred into a multi-signature vault managed by several signers, creating a pool dedicated to compensating victims and processing redemptions. Investor allocations will remain untouched, ensuring that early backers follow the original release timeline. Balancing Accountability and Recovery Part of the recovery strategy involves using assets reclaimed from exchanges and a fraction of the team’s own reserves to reimburse those affected. The plan also includes a token repurchase scheme – a move analysts say could ease market pressure while restoring confidence in the project’s economy. At press time, the proposal enjoys near-unanimous support, with more than 99% of votes backing the measure. The final percentage for the early unlock will be determined after coordination with partner exchanges and blockchain auditors. A Test of Decentralized Governance For UXLINK, which brands itself as a social network built on blockchain participation, this governance moment doubles as a real-world stress test. If successful, it could show that a decentralized community can… The post Web3 Platform Lets Users Decide on Token Unlock After $11M Hack appeared on BitcoinEthereumNews.com. Altcoins After suffering an $11 million exploit in September, Web3 social hub UXLINK is trying a new approach to rebuilding trust – letting its own users decide how recovery will unfold. Over the past week, the project opened a community vote to finalize what it calls the “Phase 2 Swap & Compensation Plan.” The proposal aims to release a portion of locked tokens to fund reimbursements and stabilize liquidity, effectively turning token governance into a rescue mechanism. A Grassroots-Led Reset Instead of issuing a top-down directive, UXLINK’s developers placed the decision in the hands of token holders. The proposal, live on Snapshot until October 9, gives the community a choice: unlock a limited amount of UXLINK tokens early, estimated between 8% and 12% of supply, or stick to the original vesting plan. If approved, the unlocked tokens won’t go into circulation immediately. They’ll be transferred into a multi-signature vault managed by several signers, creating a pool dedicated to compensating victims and processing redemptions. Investor allocations will remain untouched, ensuring that early backers follow the original release timeline. Balancing Accountability and Recovery Part of the recovery strategy involves using assets reclaimed from exchanges and a fraction of the team’s own reserves to reimburse those affected. The plan also includes a token repurchase scheme – a move analysts say could ease market pressure while restoring confidence in the project’s economy. At press time, the proposal enjoys near-unanimous support, with more than 99% of votes backing the measure. The final percentage for the early unlock will be determined after coordination with partner exchanges and blockchain auditors. A Test of Decentralized Governance For UXLINK, which brands itself as a social network built on blockchain participation, this governance moment doubles as a real-world stress test. If successful, it could show that a decentralized community can…