Aavegotchi Community Rejects Proposed Acquisition Offer

According to Foresight News, a proposal was made by Aavegotchi community members on July 22 to purchase the DAO treasury at a 60% discount based on the 14-day average price, amounting to approximately 16 million GHST, valued at around $3.2 million. The proposal was submitted by Rongming Investment, a subsidiary of the Chinese equity financing firm Yifeng Investment. The outlined transaction would grant Rongming Investment the rights to use and market Aavegotchi's intellectual property, dissolve the DAO, and distribute proceeds to active community members. However, the proposal faced significant opposition, with over 90% of the community members rejecting it. Only more than 2 million GHST tokens participated in the vote, reaching just 28% of the required quorum. If the current trend continues, the acquisition offer is likely to be rejected. The voting process is scheduled to conclude on July 25.