Source: blockchain.news
Illuvium, an interoperable blockchain game, is working to be a leader in decentralized governance and Web3 gaming. As part of this mission, the project community took advantage of their decentralized autonomous organization (DAO) to cancel an NFT pack opening event between Illuvium CEO Kieran Warwick and Three Arrows Capital (3AC) founder Su Zhu. The event, an “Influencer Illuvitars D1sk Battle,” was part of a series where prominent cryptocurrency personalities pitted against each other to open NFT packs.
However, due to the controversies surrounding Zhu and 3AC, the Illuvium community raised concerns about the potential risks of being associated with Zhu, who is currently facing various allegations of unethical behavior. Illuvium’s CEO suggested that the matter be voted on by his decentralized council, and after this, the council voted unanimously to cancel the event to avoid any association with Zhu.
According to Illuvium board member Deraji, the Illuvium project is committed to avoiding potential associations with unethical individuals and incidents that could impede mainstream adoption. “In this case, the community made their collective voices heard that this event jeopardized the reputation that DAO has worked so hard to build. We leveraged our governance model to prevent our most well-known figure from sharing a stage with Zhu,” Deraji explained.
Illuvium’s CEO accepted the result and expressed his confidence in the community’s decision. “While I weighed the benefits against the drawbacks, I will always respect the council’s verdict,” he said.
The DAO’s decision not to risk partnering with 3AC may have saved them from potential repercussions. On February 10, a crypto exchange project associated with 3AC sparked a backlash from members of the crypto community. Many people were enraged by the release, with some swearing never to use the exchange.
Furthermore, members of the community have consistently expressed their disapproval of Zhu for his role in 3AC’s bankruptcy. On January 3, the 3AC founder began launching accusations against Digital Currency Group, alleging that he conspired with FTX to attack Terra. However, members of the community called Zhu and asked him to focus on his own misdeeds.
This incident highlights the power of decentralized autonomous organizations and the importance of avoiding potential associations with individuals that could damage a project’s reputation. By listening to their community and leveraging their DAO, Illuvium was able to make a decision that aligned with their values and mission.
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