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Aavegotchi DAO Poised to Reject $3.2M Buyout Proposal: Nearly 90% Say No!
In a shocking turn of events, the Aavegotchi DAO is set to reject a whopping $3.2 million buyout proposal submitted by Rongming Investment. The staggering opposition is evident in the nearly 90% rejection rate, as the majority of token holders have spoken out against the deal.
The proposed acquisition sought to purchase the DAO’s treasury at a meager 60% discount from its 14-day average price. However, the community has overwhelmingly rejected this offer due to concerns about undervaluation and doubts over Rongming’s motives.
This drastic response suggests that the Aavegotchi DAO is committed to maintaining its decentralized structure and refusing any attempts to undermine its independence. The project’s strong financial foundation also plays a significant role in this decision, as it has already raised $30 million through an innovative DAICO process, allocating a substantial $22.5 million to the treasury.
In addition to the financial backing, Aavegotchi has made significant progress by migrating its ecosystem from Polygon to Coinbase’s Base blockchain. This strategic move was approved by 93% of voters and demonstrates the community’s unwavering dedication to their vision.
It appears that this buyout proposal’s failure will reinforce the community’s power in decision-making processes and solidify their commitment to the project’s roadmap, including the expansion into cross-platform gaming and deeper protocol decentralization.
Source: crypto-economy.com
