Timeline of the Decline
November 2021
$495.00
All-Time High - Peak euphoria
January 2022
$100.00
OHM fork fatigue sets in
June 2022
$5.00
DeFi 2.0 narrative completely dead
Current
$0.50
Post-collapse trading
What Went Wrong
-
OHM Fork Dynamics
As another OHM fork on Fantom, HEC couldn't escape the collapse of the entire rebase token category.
-
Treasury Mismanagement Claims
Community raised concerns about treasury allocation and whether funds were being used appropriately.
-
Market Conditions
The 2022 bear market was especially harsh on experimental DeFi protocols with unproven economics.