Gnosis DAO redemption proposal voting is fiercely contested, with whales' votes reversing the co-founders' stance

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ChainCatcher news, Gnosis DAO is conducting a Snapshot vote proposing to allow GNO holders to proportionally receive DAO treasury shares through a voluntary redemption mechanism. According to analyst Ignas data, the treasury holds about $223 million in assets (including ETH, stablecoins, and ecosystem tokens), approximately 1.3 million GNO are eligible for redemption, with each GNO corresponding to about $170 in treasury value, while GNO is currently trading at around $132, about 27% below the value.

The vote has reversed twice within 24 hours: after Gnosis co-founder Stefan George cast an opposition vote, the situation temporarily reversed, then a whale wallet holding 67,000 GNO cast a supporting vote, causing supporters to regain the lead. Currently, about 116,000 GNO support (around 65%), 59,600 oppose, and 1,600 abstain, surpassing the quorum of 75,000 votes, with voting continuing until May 12.

Supporters argue that Gnosis Ltd. has become a financial black hole with a structural misalignment of interests with holders, while opponents warn that redemption will weaken projects with actual users like Gnosis Pay, Circles, and Gnosis Chain, and may trigger a chain reaction affecting other DAOs trading below net asset value.

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