Umbrella Network announces compensation plan for ChainSwap att | NFT News

Umbrella Network announces compensation plan for ChainSwap attack

The Umbrella Network (UMB) team has now frozen the tokens recently issued by hackers and plans to issue a new contract for UMA tokens at BSC next week and distribute it 1:1 to UMA holders at BSC before the hack.

To offset the opportunity cost to users during this period, Umbrella Network will also distribute new UMA tokens to users at BSC and incentivize users to keep the new tokens. Users will receive 25% additional airdrops for every 25 days of ownership.

Rewards held up to 100 days will double the number of tokens for additional airdrops. In addition, Umbrella Network plans to redeem 110 ETH worth of UMA tokens in the Ethereum chain on the marketplace and store them in a public address.