Vesta Finance tokens rose 165% on the 7th, and two joint ventures launched an "angry quit" proposal

Odaily Planet Daily News DeFi lending protocol Vesta Finance has three co-founders. Two of them, James “Atum” Peterson and Midnight, issued a “rage quit” proposal on the governance forum on September 9 to withdraw from the project. “Rage quitting” refers to the practice of liquidating (all or part of) a project’s funds and distributing the funds to investors. In the proposal, they expressed frustration with the lack of progress on the project and requested $1.68 million in compensation as a settlement. They believe that by disassociating themselves from current parties and obtaining compensation, they can eliminate the friction caused by conflicts of opinions and concepts and allow founders who are forced to exit to be fully compensated for their significant contributions. Another co-founder and CEO, Mikey Milken, opposed their "rage quit" proposal and proposed an alternative settlement of "acquiring shares of Atum and Midnight," saying it would not jeopardize the protocol upgrade plan. Milken said any proposals moving forward would need to take into account the interests of all stakeholders who remain interested in the future progress of the project, while allowing uninterested parties to leave. Milken also raised regulatory concerns related to a complete exit. He said that VSTA is a utility token and does not give its holders the right to make claims against the project treasury. Not everyone shares this view. Some investors, including early backers of the project, have already called for a "rage exit." Ogle, the main investor in Vesta, believes: "Currently, 'quitting' is the best outcome for investors. It will be difficult to recover from this." Several DAO members are also strongly demanding "exiting", which has a negative impact on all related parties. It’s always the “best solution”. It is reported that Vesta Finance is a DeFi lending protocol on the Arbitrum chain, with a TVL of more than $12 million. The project’s treasury holds $10 million in crypto assets (including USDC). On-chain data shows that while the conflict has divided the Vesta community, some opportunistic investors are pouring into the project’s native token VSTA to gain a share of the treasury funds. Since the dispute began, VSTA prices have increased by more than 150%. CoinGecko data shows that VSTA is currently trading at $0.376144, with a 165% increase on the 7th, and a market value of more than $6.97 million. (DL News)