Hedge fund supervisor Arca is stepping up its marketing campaign to overtake Gnosis, claiming the decentralized exchange and prediction market platform has deviated from its authentic mission.
The put up describes Gnosis’ $12.5 million 2017 token sale (which valued the mission at $300 million) as an “interest-free loan.” After borrowing the cash, the staff “failed to deliver the products laid out in its fundraising whitepaper,” Arca contends. The merchandise Gnosis created generate value just for its administration, Arca claims.
In that article, Köppelmann is quoted as saying Gnosis “had already been working on an alternative path for the GNO token, which we think is much more appealing. Our own proposal includes a Gnosis DAO and gives much more ownership to GNO holders. It will be presented to the community very soon.”
Makes an attempt to succeed in Gnosis for remark Tuesday had been unsuccessful.
Large image: The state of affairs means that along with cash and cachet, establishments are bringing activist investing methods to crypto.
Correction (Sept. 8, 23:20 UTC): An earlier model of this text overstated the proceeds from Gnosis’ 2017 token sale. They totaled $12.5 million, valuing the mission at $300 million.