Kujira proposed DAO to solve the issues of fairness, security

Kujira, a decentralized finance (DeFi) platform, has faced major challenges after the team deployed operational funds to improve liquidity and mobility in the ecosystem.

This launch was met with “exploiters, socially engineered attacks, and failures in the ecosystem,” resulting in rapid sales and market instability.

According to the official X-Post, Kujira Group has announced that it will post a proposal to establish a Decentralized Autonomous Organization (DAO) called Kujira Operational DAO.

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Impact and community response

The group stated that they “worked hard” to protect the jobs, but the volume of sales made this impossible.

Although this was designed by a few, we take full responsibility for the site getting to this point, and we are truly sorry for the cost.

Kujira's team denied what “certain influencers” had said on X, suggesting that what was going on was a “carpet”.

The DeFi platform team's public announcement prompted mixed reactions from the community, including Blockchain Ecologist, who described the decision as “extremely irresponsible management.”

RELATED: Blended finance proposals spark accusations of ‘management abuse'

Kujira treasury status and proposed solution

The group refuted claims that the entire treasury was at risk, stating that 14 million KUJI tokens are “safe and sound in the treasury”.

Kujira's Operational DAO Proposal The DAO includes ownership of Kujira's treasury and core protocols, the “First Order to Securely Reduce Debt”.

“We do this through Fuzion's Bonds product, which allows us to offer the community a discount on $KUJI, with multiple maturities and to minimize long-term price impact.”

Related: DeFi Protocol Removes Key Line of Code That Led to $212K Hack

Kujira community pool proposal

The group proposed moving the community pool to an operational DAO to allow for a “longer and more considerate voting period for support requests as opposed to the standard 48 hours.”

“Over time, the foundation's positions will be transferred to the Dao, providing a sustainable source of income for the foreseeable future.”

According to Kujira X's announcement, the team plans to release the “BOW v2, USK v2, GHOST v2 and Perps” roadmap in the coming months.

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