The ZKasino project developers have introduced a new DAO management model for ZKAS token holders. This update comes after accusations of a $32 million rug pull, and the team is now preparing to launch a DAO governance system for the ZKasino network.

DAO Governance for $ZKAS Holders:

We are thrilled to announce the upcoming launch of a DAO governance model for the ZKasino chain. This move is in line with our commitment to decentralization and will be facilitated through @SnapshotLabs. The DAO will empower token holders to have a say in the network’s governance.

The introduction of the DAO governance model marks a significant step towards increasing the decentralization of ZKasino. This system will allow token holders to participate in decision-making processes related to the platform.

Some potential use cases for the DAO include modifying game contracts, introducing new games, supporting community initiatives, and implementing platform updates. The goal is to foster trust and transparency within the ZKasino community.

Previously, ZKasino faced allegations of fraudulent activities, including a suspicious collection of 10,515 ETH from users followed by the closure of the Telegram channel and blocking of fund withdrawals. Etherscan data revealed that over $32 million in user assets were transferred to another address and then sent to the Lido Finance liquid staking protocol.

As a result of these incidents, the MEXC crypto exchange delisted the ZKAS token, and the Ape Terminal platform canceled the initial coin offering. VC firm Big Brain Holdings also distanced itself from ZKasino, stating that it had never directly invested in the crypto casino.

Furthermore, Big Brain Holdings highlighted their investment in the @zigzagexchange project in 2022, which led to financial losses. Some of the former founders of ZigZag Exchange are now part of the @ZKasino_io team, raising concerns about the legitimacy of the project.

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