2024

April

ZigZag

<p class="is-style-lead">The developers of the ZKasino project presented a DAO management model for ZKAS token holders.</p> 
<p>The project team shared an update to its governance system, in which the developers, who were previously accused of a $32 million rug pull, are preparing to launch a <a href="https://crypto.news/tag/DAO/" target="_blank" rel="">DAO</a> governance model for the ZKasino network.</p> 
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   <p lang="en" dir="ltr">DAO Governance for <a href="https://twitter.com/search?q=%24ZKAS&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="">$ZKAS</a> Holders:<br><br>We are excited to share the next chapter in the journey of the <a href="https://twitter.com/search?q=%24ZKAS&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="">$ZKAS</a> token.<br><br>As part of our commitment to decentralisation, we are preparing to launch a DAO governance model for the ZKasino chain through <a href="https://twitter.com/SnapshotLabs?ref_src=twsrc%5Etfw" target="_blank" rel="">@SnapshotLabs</a>.<br><br>The DAO will empower…</p>— ZKasino (@ZKasino_io) <a href="https://twitter.com/ZKasino_io/status/1782416797108514978?ref_src=twsrc%5Etfw" target="_blank" rel="">April 22, 2024</a>
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<p>According to the project team, launching the DAO governance model is a significant step towards making ZKasino as decentralized as possible.</p> 
<p>Some potential use cases for DAO have been proposed, including changing game contracts, introducing new games, community initiatives, and platform updates.</p> 
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 <p>“In light of recent uncertainties, maintaining trust within our community remains our top priority at ZKasino.”</p> <cite>ZKasino team</cite>
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<p>Previously, ZKasino was <a href="https://crypto.news/zkasino-under-scrutiny-users-face-withdrawal-issues/" target="_blank" rel="">suspected</a> of engaging in fraudulent activities against users. The project team collected 10,515 ETH, then closed the Telegram channel and blocked the withdrawal of funds.</p> 
<p>Etherscan data also confirmed that more than $32 million in user assets were transferred to another address and then sent to the <a href="https://crypto.news/tag/Lido-Finance/" target="_blank" rel="">Lido Finance</a> liquid <a href="https://crypto.news/tag/staking/" target="_blank" rel="">staking</a> protocol.</p> 
<p>In connection with the incident, the MEXC crypto exchange <a href="https://www.mexc.com/support/articles/17827791515425" target="_blank" rel="">canceled</a> the listing of the native token of the ZKAS project, and the Ape Terminal platform <a href="https://twitter.com/apeterminal/status/1781836764958830658" target="_blank" rel="">canceled</a> the initial coin offering. VC firm Big Brain&nbsp;Holdings has also distanced itself from ZKasino and claims it had never invested directly in this crypto casino.</p> 
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   <p lang="en" dir="ltr">Big Brain Holdings invested into the <a href="https://twitter.com/ZigZagExchange?ref_src=twsrc%5Etfw" target="_blank" rel="">@zigzagexchange</a> project in 2022, which subsequently resulted in financial losses for us. Some of the previous founders of that project are now part of the <a href="https://twitter.com/ZKasino_io?ref_src=twsrc%5Etfw" target="_blank" rel="">@ZKasino_io</a> team, which appears to be fraudulent. <br><br>We have never invested in ZKasino…</p>— Big Brain Holdings (@BigBrainVC) <a href="https://twitter.com/BigBrainVC/status/1782024980013703594?ref_src=twsrc%5Etfw" target="_blank" rel="">April 21, 2024</a>
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<p> You might also like: <a href="https://crypto.news/zigzag-drama-unfolds-heels-fraud-allegations/" rel=""> ZigZag drama unfolds on heels of fraud allegations </a> </p>

ZKasino presents DAO governance model following accusations of $32m rug pull

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