Based on CoinEdition, Shiba Inu has announced a new financial restructuring initiative called 'Shib Owes You' (SOU) to compensate users affected by a security exploit earlier this year. The plan converts verified losses into Ethereum-based NFTs, allowing users to track and manage their claims on-chain. The SOU system centralizes ecosystem revenues to fund user restitution, with non-performing projects being paused or discontinued. The smart contract has been audited but remains inactive as SHIB's price declines by ~4% amid market volatility.
Shiba Inu Launches On-Chain Debt System to Compensate Hack Victims
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Summary
Shiba Inu announced on-chain news about a new initiative called 'Shib Owes You' (SOU) to address losses from a crypto hack earlier this year. Verified victims will receive Ethereum-based NFTs to track claims. The SOU system uses ecosystem funds for restitution, with underperforming projects being paused. The smart contract has passed audits but remains inactive as SHIB drops ~4%.
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