Kujira: will establish and operate DAO responsible for managing the treasury and core protocol

Golden Finance reported that the Kujira team published an article on the X platform, providing a detailed explanation of the recent Liquidity crisis and market panic. The team stated that they had previously decided to use some of the operational funds for the Liquidity and activity promotion of the ecosystem, which was considered reasonable at the time. However, a series of events that followed, including security vulnerabilities and social engineering attacks, led to market instability. Some ‘influencers’ on social media incorrectly referred to this situation as a ‘Rug Pull’, which is not true but undoubtedly exacerbated market panic. The team reiterated that there are still 14 million safe KUJI in the foundation’s treasury, and the claim that the entire treasury is at risk is inaccurate. To enhance transparency and accountability, Kujira will establish the Kujira Operational DAO, responsible for managing the treasury and core protocol. The primary task of this DAO is to safely reduce debt, planning to offer discounted KUJI to the community through Fuzion’s bond products, and setting various expiration and vesting plans to drop the impact on long-term prices.