DeFi Project Parrot Holds Contentious Vote on Future of $70M Treasury

One popular way to accomplish this feat is by giving token holders a voting say in the protocol’s operations through a DAO. Indeed, Parrot sold over $80 million of its PRT “governance token” to the public in late 2021. But Parrot never set up a DAO through which PRT owners could vote on anything. Instead, the team executed major decisions, from changing tokenomics to “trust me bro” investments, without holding a formal vote.

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• Source: https://www.coindesk.com/markets/2023/07/21/defi-project-parrot-puts-fate-of-over-70m-treasury-prt-token-to-vote/?utm_medium=referral&utm_source=rss&utm_campaign=headlines