Ranger Finance token holders decide to liquidate the project through governance voting.
PANews, March 11 — According to SolanaFloor, last week, token holders of the Solana ecosystem project Ranger Finance voted via on-chain governance to liquidate the project. This is a rare case where investors used on-chain governance mechanisms to dissolve a project and return treasury funds just two months after the token launch.
This decision originated from a proposal submitted on March 3 by a group of RNGR token holders, accusing the team of making significant misrepresentations about the business prior to fundraising. The proposal was ultimately approved, resulting in the removal of 5,047,250 USDC from the Ranger treasury and liquidity pool, which will be distributed to RNGR token holders. Ranger initially launched its token using MetaDAO's futarchy governance system, a model designed to let the market guide governance decisions.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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