By George Ward
The Illuvium decentralized autonomous organization (DAO) is voting on a proposal to sever the project’s ties with Su Zhu, the co-founder of Three Arrows Capital (3AC). The vote aims to cancel the D1sk Battle event involving Zhu and Illuvium’s CEO Kieran Warwick.
Illuvium DAO Voting Deadline Is March 1st
One of the council members expressed concern that maintaining a direct association with Zhu, a controversial figure, could potentially result in the project being labeled a scam. In June of last year, 3AC, a cryptocurrency hedge fund founded by Zhu and Kyle Davies, collapsed due to its inability to fulfill margin calls.
As a result, 3AC could not repay funds borrowed from Voyager Digital, a cryptocurrency broker. This, in turn, led to the downfall of Voyager in the following month.
Recently, Warwick announced a match with Zhu for Illuvium’s Beyond NFT collectible game. Some individuals raised concerns that the CEO’s decision may be a publicity stunt aimed at utilizing Zhu’s social media following for promotional purposes.
Meanwhile, the proposal to cancel the battle contains the following statement:
“Illuvium has always strived to cultivate an image of distinctiveness and excellence. The proposed ‘battle’ aligns an Illuvium co-founder with a person of unspeakable character. It also does so under the guise of an invitation from the Illuvium DAO. This perception could be damaging to the reputation of Illuvium and its community.”
The proposal has garnered four affirmative votes and zero negative votes from eligible voters. The deadline for voting on the matter is March 1st.
Warwick Using Controversy To Publicize Illuvitar Project
Meanwhile, the proposal has generated extensive discussion within the Illuvium Discord community, with some members considering it a harmless, friendly competition. On the other hand, others contend that Zhu’s values do not align with the principles upheld by the Illuvium DAO.
A member of the Illuvium community, Animositas | Ani Knows, expressed their opinion, stating, “I am not concerned about what he or anyone else does in their personal lives, but associating our brand with Zhu could harm Illuvium.”
Subsequently, Warwick weighed in on the discussion and shared his views. He believed that the community would ultimately reject the proposed battle, which would provide an opportunity to establish a public relations narrative to launch Illuvitar.
If the Illuvium community fails to block the proposed battle, the association with Zhu would still attract attention to the project. Recently, Zhu introduced OPNX, a marketplace that permits users to exchange claims for frozen funds on insolvent exchanges.
However, despite requests for collaboration from 3AC liquidators, the co-founder has yet to respond.
HeraldSheets.com produces top quality content for crypto companies. We provide brand exposure for hundreds of companies. All of our clients appreciate our services. If you have any questions you may contact us. Cryptocurrencies and Digital tokens are highly volatile, conduct your own research before making any investment decisions. Some of the posts on this website are guest posts or paid posts that are not written by our authors and the views expressed in them do not reflect the views of this website. Herald Sheets is not responsible for the content, accuracy, quality, advertising, products or any other content posted on the site. Read full terms and conditions / disclaimer.