A longtime member says the DAO “poses a major investment risk to all token holders,” and should shut down.
Jade Protocol is an investment group that sources early-stage crypto deals. Its JADE token – which trades on the Avalanche and BSC blockchains – is currently an access ticket into the community. Under the “Dissolve DAO” call-to-action posted earlier this week, JADE would instead become a cash out.
In his Sep. 25 proposal, a member with the screen name VampireOfCrypto cited darkening regulatory skies that he said are slowing Jade’s progress and imperiling all DAOs, which are crypto collectives whose token-holders have a say in decision-making. Stormy legal questions and the brutal crypto winter have combined to freeze out crypto trading volume as well as Jade’s deal flow, according to the investor, who joined Jade’s Discord server in July 2022. “The DAO poses a major investment risk to all token holders,” VampireOfCrypto said in the post.
“Distributing all treasury funds back to all token holders without delay is the ultimate win-win situation for everyone,” he wrote. VampireOfCrypto did not respond to a request for comment.In the past 12 months a group of activist investors have pushed for"
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