Solana’s Parrot Protocol submits proposal to go tokenless, buyers threat going through -89% returns

A current proposal from the group behind Parrot Protocol — a Solana-based liquidity community — has sparked controversy amongst its neighborhood members. The proposal, up for a 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 information 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 unfavourable ROI signifies that buyers have misplaced cash on their funding.

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