Posted 9/27/2023, 7:04:00 PM
Jade Protocol Faces Calls to Liquidate Treasury and Dissolve DAO Amid Crypto Winter
- Jade Protocol faces calls to liquidate $31M treasury and issue redemptions after token surge
- Longtime member cites regulatory threats, crypto winter, and deal flow freeze as reasons to dissolve
- Activist investors pushed "rage quits" at other DAOs in past year, but this call is from longtime member
- Core team acknowledges "real challenges" but outlines hurdles to approving dissolution
- Proposal calls for $2M legal defense fund to help wind down DAO if approved