Hart Lambur, the co-founder of Across protocol, denied accusations of misappropriating $23 million, emphasizing transparency and compliance with DAO norms.
Allegations of Fund Misuse and Reaction
Ogle, a senior employee at GlueNet, accused the Across Protocol of vote manipulation and siphoning funds.
Hart Lambur countered these claims, asserting compliance with DAO standards and a commitment to transparent voting practices. He pointed out that the addresses used for voting are publicly available and discussed the nonprofit nature of the fund management.
Lambur stated, "My team is free to buy tokens and privately vote in proposals, just like every other DAO out there. The addresses used are publicly disclosed and publicly linked." However, Ogle remains adamant in his claims, contributing to a broader discussion about insider advantages within DAOs.
ACX Token Price and Market Impact
According to CoinMarketCap, the ACX token of the Across Protocol currently trades at $0.13, with a 24-hour trading volume decline of 47.90%. Over the last 90 days, it has seen a 45.70% drop in price, while its market cap stands at approximately $59.24 million. This market reaction reflects overall sentiment and trust towards the protocol following the allegations.
Impact of Allegations on Governance and Reputation of Across
The accusations against Across bring significant discourse about the need for clear governance frameworks in DAOs. Lambur emphasizes the importance of transparency and regulatory compliance, which could help prevent further market volatility and strengthen trust in governance practices. Community opinion remains mixed, with some rallying behind the accused leadership and others advocating for a comprehensive audit.
The situation surrounding the allegations of fund misappropriation highlights complex governance and trust issues within DAOs. Transparency and adherence to standards will be critical for the ongoing development of the Across protocol and its market reputation.
