Panda DAO says it will dissolve and return investor's assets due to internal strife
Cointelegraph
Published Sep 19, 2022 12:30PM ET
Updated Sep 19, 2022 02:00PM ET
On Monday, decentralized autonomous organization Panda DAO put forth a new proposal to dissolve itself and return assets back to investors. According to the seven-point referendum, between 500 million and 700 million PANDA tokens out of the 1.292 billion PANDA in circulation would be distributed among investors. Of those remaining, some would be redistributed among liquidity providers. Meanwhile, an estimated 50 million PANDA will be burned, and another 44.56 million PANDA will go toward compensation for eight of the project's core developers.
Should the referendum pass and the dissolution process complete, the Panda dev team plans to remove PANDA from Uniswap, publish all of the project's open source code and shut down all social media under the Panda DAO umbrella. As for reasons for the dissolution, the Panda DAO team wrote:
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Written By: Cointelegraph
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