Kujira Responds to Liquidation Concerns: Establishing DAO for Asset and Protocol Management
On August 1st, PANews reported that the Kujira team announced on platform X their decision to use part of their operational funds to enhance ecosystem liquidity. This decision was deemed reasonable at the time. However, subsequent events, including security vulnerabilities and social engineering attacks, caused market instability. Misleading claims of an "exit scam" by some social media influencers exacerbated market fears. The team clarified that 14 million KUJI remains secure in the organization's treasury, and the entire treasury is not at risk. To improve transparency and accountability, Kujira will establish a Decentralized Autonomous Organization (DAO) to manage the treasury and core protocols.
Previously, KUJI token experienced a 40% drop due to the liquidation of Kujira Foundation's operational wallet.
