- Mango DAO is voting on a settlement offer with the SEC.
- The offer involves destroying all of the DAO’s MNGO governance tokens.
- Voting ends on Thursday.
Members of Mango DAO are supporting a proposal that would destroy the MNGO governance token and pay a hefty fine in a proposed settlement with the US Securities and Exchange Commission.
On Monday, a legal representative of Mango DAO, the digital collective that administers the Mango Markets protocol, put the proposal to a vote. It’s already reached the required threshold of votes needed to pass.
“This proposal, if approved, will authorise the DAO Representative to propose a settlement offer to the SEC that would include the payment of a civil penalty in the amount of $223,228,” the proposal said.
Additionally, the DAO would be required to destroy all MNGO tokens in its possession, those it may come to possess in the future, and petition exchanges to delist MNGO for trading within…
