Gro DAO, a defi protocol, has voted to dissolve its decentralized autonomous group and protocol in response to mounting challenges plaguing the platform.
A snapshot of the proposal detailed the problems difficult the protocol. Over the previous three years, contributors and members have dedicated time and assets to construct the group and its flagship product, the Gro protocol.
Nonetheless, the protocol has confronted persistent points, together with prolonged intervals of underperformance and key departures throughout the Groda Pod, the first product pod of Gro DAO.
To navigate these challenges, Gro DAO sought an goal evaluation of potential pathways from web3 studios, with the findings documented within the Gro DAO Strategic Path Ahead.
Group members had been introduced with 4 distinct voting choices. The primary possibility is to unwind the protocol and the DAO. This path seeks to dissolve the Gro DAO and protocol and presents a method for stakeholders to exit with their funds.
The second possibility is to unwind the protocol however proceed constructing. This alternative seeks a extra streamlined strategy, specializing in leaner product growth. It includes dissolving the Gro Protocol however retaining the DAO to proceed work on the group.
The DAO has a 3rd alternative, permitting them to reject all of the choices. This offers the DAO with two potential outcomes. Consequence A stops the DAO from contemplating any pathways to decision sooner or later, whereas Consequence B permits for proposals detailing different decision paths.
The voting interval ended on Sept. 18, with an awesome majority of 70.95% selecting to unwind the protocol and DAO. This requires the fast dissolution of the Gro protocol and Gro DAO.
Moreover, Groda Pod is prolonged for 3 months, from Oct. 3 to Jan. 3, with a devoted funds of $180,000 allotted for the unwinding course of.
Crucially, customers have assured the flexibility to withdraw their property by means of Swimming pools, GVT, PWRD. The DAO will distribute the treasury to stakeholders who deposit their GRO tokens right into a redemption contract over 4 weeks of assortment.