The Mantle decentralized autonomous group (DAO) paused the continued token migration to cease the collapsed FTX trade and Almeda Analysis from changing $43 million price of BitDAO (BIT) tokens to Mantle (MNT) tokens.
A neighborhood member of the Mantle began the dialogue with individuals about stopping FTX from migrating BIT to MNT tokens.
BitDAO swapped 100 million BIT tokens in trade for 3.3 million FTX tokens with Alameda on Nov. 2, 2021. As a part of the commerce, each events publicly agreed to carry one another’s tokens for 3 years, that’s until Nov. 2, 2024.
Through the fallout of FTX in 2022, BitDAO suspected that Alameda dumped the tokens and demanded to supply a proof of hodling 100M BIT. After just a few months, the BitDAO neighborhood proposed the unification of the BitDAO ecosystem, which handed with the overwhelming help of its neighborhood on Could 19.
The Mantle neighborhood remains to be involved with the BIT tokens held by Alameda, which turned the subject of debate on August 17. The conversion of FTX Group’s BIT to MNT shouldn’t be carried out routinely as there are various disqualifying components, as argued by Cateatpeanut.
The neighborhood member demanded the brand new MNT migration good contract, which is able to be capable of cease the automated migration of FTX-owned tokens. “The on-chain migration contract has been paused till the conclusion of this dialogue and vote,” was additionally talked about by a neighborhood member.
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