Proposal to Fire Dash CEO is Out There

Proposal to Fire Dash CEO is Out There

Dash, a growing cryptocurrency that has been experiencing numerous developments pointing towards growth, may run out of money soon. A new proposal has been submitted for the purpose of demoting the CEO, Ryan Taylor and reducing the overall expenses before the coin runs out of all the money.

This new proposal appeared on Dash Central, the coin’s master node monitoring service that allows the master node to vote on proposals. The main topic of this proposal is to demote the CEO to an advisory level and instructs HR to hire a new CEO. The multiple reasons for the proposal are available on the description of the proposal on the DASH website.

The specific reasons are Ryan’s ineffectiveness at promoting the welfare of the Dash community as it is undergoing huge growth and expansion. Some of the reasons are the low market confidence in Dash and Ryan managing the company irresponsibly.

The reasons also include issues in Technology, Marketing and Business Development and ultimately stating that Ryan Taylor is not a leader and Dash Group is a stale and boring company that does not innovate.According to a Dash user, Ryan has been unable to create a viable ‘safety net’ for the Dash community to rely on. A snippet from the proposal is as follows,

Ryan had access to more than $30,000,000 USD in funding and didn’t create a safety net for DCG. Because of his unforgivable mistake, other important community projects are either already defunded or at serious risk of being defunded. Ryan jeopardized the financial stability of his entire company, and many other community projects, in spite of the ludicrous amounts of money that were available to him.

Obviously, this proposal has caught the attention of many in the cryptocurrency industry and has invited responses from other projects giving their views on what is going on within the Dash Group.

Riccardo Spagni, the project lead at Monero tweeted,
Dash’s burn rate is so high that it’s at jeopardy of not being able to continue if the price drops lower.

@BitcoinBirch tweeted,

Dash is quickly running out of money with a $500k/mo burn.I personally know of 2 other well known cryptos with multi 8-figure marketcaps that are also almost out of money.This is the step before coins go to $0.Who’s next?

The proposal has been created by ‘SavingPrivateDash’ and the final voting deadline is in 5 days. The post also asks users a deposit of 5 Dash($694 USD) with a final due date on deposits of September 16, 2018.

The current voting status is 92 yes, 858 No and 25 Abstain. This shows that there is a lot of support for Ryan Taylor in the community and most users don’t share the views of this proposal. For the proposal to pass, there need to be 1249 more Yes votes. Ryan Taylor is not the only person the owner of this post is unhappy with. The owner is also unhappy with Fernando Gutierrez, the CMO, and Bradley Zastrow, who holds the position of Head of Business Development. The owner of this post said in the proposal,

If this proposal does not pass in this cycle, I will still submit two other ones on the next: one to fire Fernando and another to fire Bradley. Also on 2019 Jan 01, I will submit this exact same proposal again (Demoting Ryan Taylor). Let’s see how many of you change your mind after realizing Evolution was not delivered, and deadlines from the roadmap were missed yet again.

Read Also:Dash Partners with AloGateway

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Pallavi Janiani

Pallavi Janiani

Content Writer
I am studying Business and psychology at the university of Minnesota. Apart from learning about how the economy and the human mind works, I spend my time dancing with my bollywood fusion team, reading, writing, traveling, usually with a cup of coffee in my hand.