On Monday, decentralized autonomous organization Panda DAO put forth a new proposal to dissolve itself and return assets back to investors. According to the seven-point referendum, between 500 million to 700 million PANDA tokens out of 1.292 billion PANDA in circulation would be distributed among investors. Of those remaining, some would be redistributed among liquidity providers. Meanwhile, an estimated 50 million PANDA will be burned, and another 44.
As told by"Panda," the internal turmoil within the DAO greatly hampered the efficiency of operations. After raising 1,900 Ether at a price of 1 ETH=500,000 PANDA last year, the community was conflicted about how to best use the funds going forward. Since then, it appears that there was always a rift between Panda developers and users."We had a lot of ideas but little capital; our users wanted us to develop Panda Apps and even form a venture capital division, but we had to say no to these ideas."
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