Whale: 'Plans to set up a Treasury-Led DAO amid concerning Whale Wallet Liquidation'

IconCryptoNewsTerminal Staff01 Aug, 2024

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Whale: 'Plans to set up a Treasury-Led DAO amid concerning Whale Wallet Liquidation'

Amid the 48% price drop of KUJIRA (KUJI) following the liquidation of the Cosmos-based project's foundation wallet, Kujira clarified via X , "There is a FUD going around that the entire foundation treasury is at risk, which is not true. The foundation treasury currently holds 14 million KUJI safely. Taking this incident as an opportunity, we are planning to set up an operational DAO responsible for treasury and core protocol. The DAO will initially own the treasury and core protocols, and its mission will be to safely reduce debt."

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