Solana’s Parrot Protocol submits proposal to go tokenless, investors risk facing -89% returns By Cointelegraph
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A recent proposal from the team behind Parrot Protocol — a Solana-based liquidity network — has sparked controversy among its community members. The proposal, up for a 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 redemption price was established at $0.0045 per token. According to data from CryptoRank, the protocol raised over $89 million since its inception in 2021, with a current return on investment (ROI) of -89% for investors in its initial DEX offering (IDO) and initial exchange offering (IEO). Having a negative ROI indicates that investors have lost money on their investment.
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A recent proposal from the team behind Parrot Protocol — a Solana-based liquidity network — has sparked controversy among its community members. The proposal, up for a 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 redemption price was established at $0.0045 per token. According to data from CryptoRank, the protocol raised over $89 million since its inception in 2021, with a current return on investment (ROI) of -89% for investors in its initial DEX offering (IDO) and initial exchange offering (IEO). Having a negative ROI indicates that investors have lost money on their investment.
Continue Reading on Coin Telegraph
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