Gnosis DAO's ongoing Snapshot vote on a proposal for GNO holders to claim a share of the DAO treasury is gaining traction as whale votes shift. The treasury, valued at approximately $223 million, includes ETH, stablecoins, and ecosystem tokens. With GNO trading at about $132, the redemption offers a 27% discount, valuing each GNO at $170 in treasury assets.
The vote has seen significant shifts, notably when a whale wallet holding 67,000 GNO voted in favor, countering an earlier opposing vote by Gnosis co-founder Stefan George. Currently, 116,000 GNO (65%) support the proposal, surpassing the quorum of 75,000 GNO, with the vote open until May 12. Proponents argue the redemption addresses structural misalignments, while opponents caution it could undermine projects like Gnosis Pay and Gnosis Chain.
Gnosis DAO Redemption Proposal Gains Support Amid Whale Vote
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