ONE currently has a total supply of 13.1 billion tokens, implying that if the proposal is accepted, the team will increase ONE’s supply from 19% to 38% during the following three years. Did we not study inflation? One commentator stated that the price does not rise when you expand supply.
“DO NOT MINT MORE!” Those staking will be severely harmed as a result of this. Many felt that this would impact the token’s price negatively. The community appears to be most dissatisfied with the idea, owing primarily to the inflationary impact of minting new tokens. They opted against using the foundation treasury in the interest of the project’s lifespan and welfare since reimbursing from the treasury would substantially impair the foundation’s capacity to support the expansion of Harmony and its ecosystem. The team claimed it should not use treasury funds for hack reimbursement since it intended to preserve such assets for future goals and development. Therefore, the best way to transfer assets to the network is to use the Harmony One bridge. Binance currently does not support ONE tokens to be transferred via the Harmony network. You can transfer ONE tokens to your MetaMask wallet using a centralized exchange. The second one is to mint 4.97 billion ONE tokens ($99 million), which would be sufficient to compensate all victims. Step 3: Transfer ONE Tokens to Your MetaMask. The first option is to mint 2.48 billion ONE tokens ($49.6 million), which the team claims will provide victims 50% compensation at the current market price of $0.02 per ONE token. The most recent proposal gives community members two alternatives for determining how many tokens to mint. Image: Themarketperiodical Million-dollar options Harmony proposes minting billions of One token. This proposal needs a hard fork of the Harmony blockchain since it raises the ONE token supply. On Wednesday, the team proposed that the community fork the Harmony network and create a new supply of tokens to begin the payment process. In June, a hacker stole $100 million in crypto assets on the Harmony-run Horizon bridge on Ethereum. ONE token is used as the network’s native asset to pay for transaction fees. Harmony is a proof-of-stake (PoS) blockchain that boasts itself as a speedier and more affordable alternative to Ethereum.
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