Parrot Protocol

<ul><li>Parrot Protocol recently unveiled a proposal to redeem all of its governance tokens.</li><li>The redemption would allow the DeFi project to become a token-less protocol.</li><li>The DeFi protocol’s governance token PRT tanked more than 3% following the proposal.</li></ul>Solana-based decentralized finance project Parrot Protocol recently forwarded a proposal to redeem its governance token PRT in order to become a token-free protocol. The move to ditch the token came two years after the DeFi protocol raised more than $80 million in its Initial DEX Offering (IDO).Crypto influencer Spreek took to Twitter recently to highlight Parrot Protocol’s questionable governance:<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/baace3b537494a269a534f7b8eea6465.png" />According to Spreek, the Parrot Protocol’s latest proposal sought to take $12 million from the remaining $72 million in IDO funds and give it to PRT holders, with the other $60 million going to the Parrot team. As per the proposal posted on Parrot’s <a href="https://app.realms.today/dao/8YDTzT86Tv3JF7SvHwF3EEu4bsiPf8LTUz6ukqVHuoKR/proposal/FWTCFkn8sSccSUL3UXKfGUfcR91hqNbNh8vsU92LATJm" rel="noopener noreferrer nofollow">governance forum</a>, the redemption price for the PRT tokens was set at $0.0045.The Parrot community responded to the governance proposal on the forum and called out the Parrot team for attempting to take a bigger cut from the IDO proceeds at the expense of the initial investors. The crypto influencer added that the Parrot team had unlocked their vested tokens earlier than previously stated, and would use it to vote in favor of their controversial proposal.Read full article at<a href="https://cryptotale.org/parrot-protocols-new-proposal-receives-criticism-from-community/" rel="noopener noreferrer nofollow"> CryptoTale.</a>

Parrot Protocol’s New Proposal Receives Criticism From Community

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