- A group of activist investors proposes a treasury redemption program for GNO tokenholders, offering a share of Gnosis DAO‘s $220+ million treasury.
- The proposal, GIP
-150, argues GNO trades at a deep discount to treasury value, offering a potential payout of ~$170 per token versus a $131 market price. - Voting is underway until May 12, with 65% of early votes cast against the controversial plan labeled a “treasury rug” by critics.
- The group previously targeted projects like Rook and Aragon in 2023, earning the “RFV Raiders” nickname they reject.
- Beefy Finance recently introduced a buyback to avoid a similar play after its token fell below net asset value.
Activist investors are targeting Gnosis DAO’s $220 million treasury with a redemption proposal that could pay tokenholders approximately $170 per GNO. Voting on GIP-150 runs until May 12, but early results show 65% opposition. The proposal’s author, Wismerhill, claims GNO trades at a “persistent and widening discount” to treasury assets.
Consequently, the plan would let holders redeem their pro-rata share, excluding tokens held by Gnosis Ltd. This comes less than six months after the DAO fired its former treasury manager. DeFi commentator Ignas admits “the RFV logic has a point” but voted against it.
However, many in the ecosystem strongly oppose the move. Gnosis co-founder Sebastian Bürgel questioned when a respected builder became a “hedge fund.” Others, like Jito’s Nick Almond, dismissed it as a clear “treasury rug.” This group made similar plays in 2023, targeting projects like Rook and Aragon.
Meanwhile, Beefy Finance recently introduced a buyback to avoid an RFV play. The vote will test whether Gnosis tokenholders prioritize short-term business sense or long-term building potential.
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