Bitcoin News
DeFi Project Parrot Puts Fate of Over $70M Treasury, PRT Token, to Vote
![DeFi Project Parrot Puts Fate of Over M Treasury, PRT Token, to Vote DeFi Project Parrot Puts Fate of Over M Treasury, PRT Token, to Vote](https://i0.wp.com/www.coindesk.com/resizer/6sLHQ7_S-fCEOXTqoQYYUMkuesg=/1200x628/center/middle/cloudfront-us-east-1.images.arcpublishing.com/coindesk/IWYRPJBVXJHVRB2L4HMS6JY7AE.jpg?resize=780%2C470&ssl=1)
One popular way to accomplish this feat is by giving token holders a voting say in the protocol’s operations through a DAO. Indeed, Parrot sold over $80 million of its PRT “governance token” to the public in late 2021. But Parrot never set up a DAO through which PRT owners could vote on anything. Instead, the team executed major decisions, from changing tokenomics to “trust me bro” investments, without holding a formal vote.
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