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DAO Suddenly Cancels Plans to Donate 100 ETH to ‘On-Chain Sleuth’ ZachXBT | CoinMarketCap | Cryptonews

cryptonews: Confusion is swirling within a decentralized autonomous organization (DAO) after plans to donate 100 ETH to a well-known, on-chain crypto sleuth were suddenly canceled.🧐

On Twitter, it was suggested this action may have been taken by someone who wanted to stop ZachXBT from performing further investigations.

ZachXBT had said he was grateful for the donation, writing:”It will mostly remain unspent in case the bear market lasts for an extended period of time. Also plan on hiring a dev intern in the coming months. Potentially will upgrade some of my equipment too.”

All seems in order so far. But things soon got a little murkier after it emerged that the proposal had been abruptly canceled — meaning the funds were not sent to ZachXBT.Governance client House of Nouns claimed a technical quirk meant the proposal could be canceled by an anonymous wallet — and on Twitter, it suggested this action may have been taken by someone who wanted to stop ZachXBT from performing further investigations.

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Nouns DAO to donate $123,000 to on-chain sleuth ZachXBTNouns DAO says it is making the 100 ETH ($123,000) donation to support ZachXBT’s investigative efforts in the crypto space. Fully support Thoroughly deserved, zachxbt is doing gods work on CT… Worth it

$aid OrtNewATH Everyone should know this!! Christmas giveaway has begun!! Why doesn’t anyone talk about it Why did the media keep a blind eye on this? Does anyone know if it’s possible to participate twice! ChiefraFba gives the most accurate signals and analysis in my experience Why is no one talking about this?

Why isn’t anyone talking about this

Nouns DAO $123K donation to ZachXBT scrapped, vote to be repeatedNouns DAO has been forced to redo its planned 100 ETH ($123,000) donation to ZachXBT after the initial proposal was mysteriously canceled. dcfgod do you think this is a proper use of funds? lol ppl always mess this up If I know of one guy who would deserve a donation of that size, it would be zachxbt. 🫡

Why don’t they want us to know about this?

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ZachXBT had said he was grateful for the donation, writing: "It will mostly remain unspent in case the bear market lasts for an extended period of time. Also plan on hiring a dev intern in the coming months. Potentially will upgrade some of my equipment too. December 8, 2022, 4:59PM EST." All seems in order so far. But things soon got a little murkier after it emerged that the proposal had been abruptly canceled — meaning the funds were not sent to ZachXBT.

Governance client House of Nouns claimed a technical quirk meant the proposal could be canceled by an anonymous wallet — and on Twitter, it suggested this action may have been taken by someone who wanted to stop ZachXBT from performing further investigations. Undeterred, it confirmed that a new, identical proposal has been created to ensure that ZachXBT receives this 100 ETH reward — and House of Nouns added that it is a "near certainty" that the vote will pass once again. Further explaining what happened, Hong Kim wrote in the newest proposal: "I had delegated my nouns to the House of Nouns team without knowing that until a prop reaches execution (even after voting passes) removing voting power from the proposer's address can mean that anyone can cancel the prop. Unfortunately it was canceled as a result. My sincere apologies for the need to revote.

" Why Is ZachXBT Receiving This Cash? Hong Kim argued that ZachXBT "is a public good serving the ecosystem through tireless research exposing countless scams" — adding: "Recent events have highlighted the dire need and importance of such work." But they acknowledged that giving donations to individuals can prove controversial in the event that there's a conflict of interest — and said one doesn't exist here. "I attest that I have no prior (or planned future) relationship with ZachXBT and that today was the first time I contacted them (via Twitter) to ask for their permission to make this proposal." House of Nouns has expressed confidence that ZachXBT will receive their reward "in about a week" after voting ends. 0 people liked this article I cover the crazy world of crypto.

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