Humanity Protocol is transitioning from its legacy H token to a new Ethereum-based version due to a security breach that affected its ecosystem. In a recent statement, the protocol announced that a new audited ERC-20 token has been launched. This token will replace the existing H token, and eligible holders across Ethereum, BNB Chain, and Humanity Mainnet will receive new tokens based on their account balances calculated from a snapshot taken prior to the incident.
To ensure the integrity of this transition, all addresses that were involved in the exploit have been flagged and excluded from the airdrop distribution. Holders of the H token who possess it in standard wallets will automatically receive their new token directly. Conversely, those with funds in decentralized finance protocols and liquidity pools should be aware that their distribution will occur through a specific management mechanism established for this purpose.
What does this mean for the future of Humanity Protocol? As part of its recovery strategy, the protocol has plans to relaunch its mainnet soon, with the newly established H token serving as the native gas token for transactions on the network. The development team is actively collaborating with exchanges and other key infrastructure providers to facilitate this migration seamlessly.
Furthermore, in responding to potential unresolved scenarios, Humanity Protocol has set up a compensation fund alongside a claims portal. This resource will assist holders impacted by various edge cases and those who purchased tokens after the snapshot date. This initiative shows the protocol's dedication to its community while ensuring stability through this critical transition period.