Panda DAO issued the issue of closing the project to vote – Bits Media

The decentralized autonomous organization Panda DAO announced a possible termination of activity in connection with the problems of internal management of the project and the lack of sufficient funding.

Decentralized autonomous organizations (DAO) Offer special Project management model or company, which distributes voting rights between all community participants. In this way, The entire DAO team is involved in making managerial decisions.

Although in theory it sounds fair, In practice, such a management model can become a significant problem. Especially, If the DAO voting system is based on tokens -based. Such a system can lead to hostile absorption of the DAO “whales” project, or a certain part of the community can “push” the advantageous proposal for itself.

Obviously, Panda Dao is faced with similar problems, And this forced the developers' team to nominate the issue of closing the project to vote. Commenting on your proposal, They explained, that over time, the combination of votes and the development of effective solutions have become impossible.

“One DAO faction wanted, so that the developers focus on short -term profit with a low level of risk, eg, on the ransom of tokens. Another faction wanted to get a long -term profit, abandon all ransom and accumulate money in the treasury ", - said on Twitter one of the members of the developer team under the pseudonym Panda.

He told, that over the past year, the dialogs between developers and Panda DAO users have almost always led to disagreements:

“We had a vision of that, How the project should develop, But our users insisted on their decisions, So that we take up the development of the Panda application or form a unit of venture capital. At the same time, they forgot, that developers do not work for free, And I also think, that none of them understands, how to survive in a long bear market ".

If most participants vote for closing the project, The developer team plans to remove the Panda token from the Uniswap exchange, Publish the open source code of the project and close all the social networks Panda Dao. Also, between investors will be distributed from 500 to 700 Milln Panda from 1.292 billion tokens, in circulation.

The crisis of internal management is not the only problem, threatening DAO life. The other day, the New Free Dao project has been subjected to several instant loan attacks, after which the NFD token course collapsed on 99%.