Solana's Parrot Protocol submits proposal to go tokenless, buyers threat face -89% returns

A current proposal from Parrot Protocol’s group, a Solana-based liquidity community, has sparked controversy amongst its group members. The proposal, up for vote till July 27, requires the redemption of its PRT tokens for liquid treasury worth, and the transition to a no-token protocol.

Primarily based on the proposal, the PRT redemption worth was established at $0.0045 per token. In accordance to knowledge from CryptoRank, the protocol raised over $89 million since its inception in 2021, with a present return on funding (ROI) of -89% for buyers in its Preliminary DEX Providing (IDO) and preliminary alternate providing (IEO). Having a unfavorable ROI signifies that buyers have misplaced cash on their funding.

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