Friday, November 8, 2024
Home > Parrot

Solana’s Parrot Protocol submits proposal to go tokenless, investors risk face -89% returns

A recent proposal from Parrot Protocol's team, a Solana-based liquidity network, has sparked controversy among its community members. The proposal, up for vote until July 27, calls for the redemption of its PRT tokens for liquid treasury value, and the transition to a no-token protocol.Based on the proposal, the PRT

Read More

DeFi Project Parrot Puts Fate of Over $70M Treasury, PRT Token, to Vote

The redemption plan appears to heavily favor employees and Parrot’s venture investors. Last November, Parrot finance unlocked all remaining team and VC tokens two years ahead of schedule. Community members claim the modified vesting schedule gives these insiders a redemption price of $0.055, 22% higher than the original, public investors. Source

Read More