Following up on reports of liquidating its treasury assets with no DAO vote or official statement from the team, i am asking to clarify the situation as it seems that they might be closing shop by selling the tokens that were being used for market making.
The tokenomics indicate that the Axo DAO is designed to allow AXO holders to vote on how to use treasury funds. The sell off seems to be a decision that had no community involvement.
The treasury wallet with handle $axo.treasury started selling tokens about a month ago. Heres a brief breakdown on the tokens sold.
$IUSD 178K
$DJED: 84k
$USDM: 92k
$AXO: 8k ADA
$SNEK: 29K
$IAG: 22K
$LENFI: 15K
$LQ: 13K
$MIN: 10K
$WMTX: 9K
$SUNDAE: 5K
$AGIX: 4K
$INDY: 3.5K
$STUFF: 5.8K
$FLDT: 12K
It's fair to note that the $AXO treasury has suffered massive losses on these tokens through market making with a realized total loss of over 800k ADA, with an additional 600k+ of unrealized loss attached to the remainder of $AXO tokens still held by the treasury.
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