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Podcast: On The Brink with Castle Island
Episode: Jeff Dorman (Arca) on asserting tokenholder rights
Description: Jeff Dorman is the CIO at Arca, which is currently engaged in a fascinating standoff with Gnosis, a token project in which they have a position. Arca is asserting that Gnosis has delivered little value to tokenholders and has proposed that they perform a tender offer for GNO tokens with the assets held on their balance sheet (which exceed the capitalization of GNO). Covered in this episode:Â The original purpose of Gnosis as laid out in the whitepaper Why Gnosis only sold 5% of their tokens in the initial sale How Gnosis's dutch auction backfired How the original objective t...