The Jade Protocol is facing calls from a longtime member to liquidate its $31 million token treasury and issue redemptions to all token holders.
Following the proposal, the native JADE token registered a significant surge in value.
Jade Protocol Faces Calls To Liquidate
Jade Protocol is an investment group specializing in sourcing early-stage crypto deals. The protocol’s native token is the JADE token, which trades on Avalanche and BSC. The token also allows users to access the larger Jade Protocol community. On Wednesday, the protocol faced calls to liquidate after a longtime member proposed that the decentralized autonomous organization (DAO) liquidate its $31 million treasury and begin issuing redemptions to token holders. Under the “Dissolve DAO” call-to-action, the JADE token would become a cashout.
A Risk To All Token Holders
The proposal was put forward on the 25th of September by a member with the screen name VampireOfCrypto. The proposal cited an extremely unfa
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