MNGO from FTX estate vote for Mango Markets buyback proposal
Mango Markets, a Solana-based decentralized exchange, has been thrust back into the public consciousness after the conviction of Avi Eisenberg for market manipulation related to an exploit of the platform. Amid this attention, governance for Mango Markets has passed a buyback proposal that will benefit a subset of users, specifically those who have participated in governance. This proposal got over the finish line in part thanks to a large voting bloc made up of MNGO tokens recently purchased from the FTX estate. Several weeks ago, the FTX cold wallet began liquidating SPL tokens, including MNGO. Following that, a new proposal was submitted to governance, that was narrowly defeated. ‘DonDuala’ shared the text of this proposal in Discord and suggested using money from the Mango Markets Treasury to repurchase MNGO in order to support the currency’s market value. Some shady Mango DAO dealings. 10 days ago 333m MNGO were bought or moved from the FTX cold storag...