LIQUIDATION UPDATE.
24 Jul 2023, 08:55
LIQUIDATION UPDATE
As of July 17, 2023 at 1600 UTC time, Hector Network, which operated as a DAO, entered into liquidation mode with a majority vote (83.3%) of the Hector Network DAO community (https://t.me/hectornetworkann/1552).
As a result, all operations of Hector Network ceased to exist and are in the process of shutting down.
The assets of Hector Network, less any contractual and statutory obligations and liquidation costs, will be redistributed to $HEC tokenholders through a redemption process. Only the $HEC tokens acquired before the snapshot taken on July 14th at 1200 UTC (https://t.me/hectornetworkann/1548) will be eligible for redemption. The $HEC tokens held by the Hector Network treasury will not be considered for the purpose of redistribution. Since the Liquidation Committee was appointed to oversee and run the liquidation process (https://t.me/hectornetworkann/1553), the Liquidation Committee will post all communication and instructions related to the process, timing, and filing of redemption submissions.
As part of the liquidation process, in the next 24 - 48 hours all social media channels except Discord, Telegram and Twitter will be shut down. Discord, Telegram and Twitter communication channels will transition to announcement-only channels where the Liquidation Committee will provide updates and FAQs.
It is important to rely on official communications from these sources only to avoid misinformation, as fraudulent information may be circulating.
We understand that this may be a challenging time, and we appreciate your patience and cooperation throughout the liquidation process. Please stay tuned for further announcements and frequently asked questions (FAQs) that will address common concerns.
Thank you for your understanding and cooperation.