The project team announced a governance system update, revealing plans to launch a DAO model for the ZKasino network, following accusations of a $32 million rug pull against the developers.
As per the project team, implementing the DAO governance model marks a pivotal stride in advancing ZKasino’s decentralization efforts.
Several potential applications for DAO have been suggested, such as altering game contracts, introducing fresh games, fostering community initiatives, and updating the platform.
“In light of recent uncertainties, maintaining trust within our community remains our top priority at ZKasino.” – ZKasino team
Earlier, ZKasino faced allegations of fraudulent behavior towards its users. The project team amassed 10,515 ETH, subsequently shutting down the Telegram channel and preventing fund withdrawals.
Etherscan data additionally verified that over $32 million worth of user assets were transferred to another address and subsequently routed to the Lido Finance liquid staking protocol.
Following the incident, the MEXC crypto exchange revoked the listing of the ZKAS project’s native token, while the Ape Terminal platform scrapped the initial coin offering. Additionally, VC firm Big Brain Holdings has disassociated itself from ZKasino, stating it had never directly invested in this crypto casino.
