The Decentralized financial platform Synthetix has a $ 27 million plans to get a crypto options platform to obtain after negative community feedback.
A Synthetix spokesman Cointelegraph said on May 22 that the proposal was it, stood on them community And to Get on“Does not reflect,” and both projects have come up with “retreating from the proposed acquisition.”
Synthetix said On May 14th it will get to get In a token exchange deal, the pricing of 1 SNX token up to 27 DRV token, which appreciates approaching nearly $ 27 million, awaiting approval from both communities.
The Synthetix approach to Ben Celermajer’s leading Cointelegraph said that other community concerns were the three-month token lock-up period and the price of the deal, part of which Synthetix tried to address without lock-up for those holding less than 1 million DRVs.
“While we understand commercials do not reflect all members of the community, a number of holders from both communities believe the deal is fair and acceptable,” he said.
“However, we acknowledge that the response is less expected, and we have no intention of moving forward with something intended to be a cooperation and constructive effort.”
Celermajer said Synthetix will continue to evaluate opportunities for developing a decentralized derivatives platform at Ethereum mainnet.
Get a community concerned with the benefits of the deal
Get community members stated concerns Over the deal with the project forum, especially around the token exchange rate and the overall benefit of the platform deal.
Writing the user “Ramjo” wrote on May 14 that the token exchange rate was “a poorly consulting the cost of getting as a platform,” and the “equivalent of selling the bottom and locking the lows.”
Related: Synthetix SNX Stakers founder threatens with ‘The Stick’ to fix SUSD DEPEG
Another user, “Alvarohk,” called the deal “difficult to justify,” as they claimed that the derivation formed more income than Synthetix, and there was no clause in the agreement to stop Synthetix from “printing millions of new tokens and maintaining us.
“I found Synthetix guide plan to issue an additional 170 million SNX to increase its supply to 500 million from 330 million,” Alvarohk added in a follow-up post.
“Why is this information not disclosed when asked about it? It will remove an additional 60% off the amount of offer made to get,” they added.
Get, which synthex started In 2021 as Lyra, operated as a Decentralized Protocol option But it remained part of the synthetix ecosystem.
It eventually revealed to get and take steps to operate independently from Synthex, such as moving from the use of SUSD stablecoin and the liquidity of the synthetix.
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