Adamant calls for vote on DAO and then sensors telegram to echo chamber a YES vote in favor of blacklisting Alameda's wallet from on Adamant. (Pic 1)
PROS:
-By blocking Alameda's address, Adamant hopes to stop rapidly falling price of ADDY and attempt to restore faith that ""a whale"" will not continue to sell and drive the price down.
CONS:
-Does not solve the problem at all as Alameda could just transfer funds to a different wallet(s) and deposit again.
-Creates even more problems in the future as more large investment will likely stay away from the project.
-Blacklisting is different from temporary bans - proposal seemed il-conceived on the part of ADAMANT.
-Censoring their community to message a YES vote is much worse than just not asking the community in the first place. Reflects poorly on the leadership.
This is directly from Adamant on their vote:
"There is a proposal to blacklist Alameda Research wallet: https://adamant.finance/governance
Users must have locked ADDY to vote. The vote ends July 11, 2021 at 6:30am Central.
Alameda Research deposited a large sum of funds over multiple vaults on adamant Adamant. This wallet team is a little less than half of Adamant’s TVL.
A team of this stature recognizing the yields and security of Adamant is flattering and says a lot about our work thus far. The problem is that this wallet is earning a lot of ADDY and habitually dumping. This has caused panic in our community and even more dumping from our community.
Blacklisting their wallet would mean they would no longer be able to stake and yield in Adamant. They of course will have access to their funds and everything they’ve earned.
We recognize this will be a monumental vote that can come with both praise and criticism, but we do want those who’ve trusted in Adamant by locking their ADDY to have the ability to vote on this."
In other news:
YELD, CRYSTL, FISH and PYQ maintain price.
HONOR, KOGE, KRILL all tumble.
OMEN slips after DIV . . . again.
PolyWEX is now less than $.0025 and still slow bleeding.
Twitter: @ococrypto
More info at: https://docs.google.com/spreadsheets/d/1zehsIQjIGigtuENgmtor7vx7YMEKbitb0-89HEr-UzI/edit?usp=sharing