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Mango DAO Embraces SOL, Rejects BTC With $1M Treasury Investment

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Don’t tell saylor: The DAO behind Solana DeFi hub mangomarkets rejected a plan to invest part of its $USDC treasury in $BTC, choosing $SOL exposure instead. realDannyNelson reports

with investment managers. More rare is the up-down community vote to swap stablecoins for volatile assets like solana.

“We were holding 100% USDC and not earning any interest on that capital,” he said in a Telegram message.DAOs dabbling in bitcoin Do Kwon, the founder of Terraform Labs and the chief figurehead of the Terra blockchain, is currently barnstorming a plan to backstop Terra’s UST stablecoin with up to $10 billion in bitcoin.“The people have spoken and no one wants BTC,” wrote Smith on Mango’s Discord Monday after the bitcoin proposal went down in flames. “Only 26k yes votes has got to be the least support for any serious proposal in Mango DAO’s history.

 

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