MangoDAO, the governing body of Solana SOL -2.89%-based lending and trading protocol Mango Markets, has approved a $1 million investment in mSOL tokens aimed at diversifying the DAO’s treasury pool. mSOL is a SOL-linked token used to pay staking rewards.
MangoDAO’s treasury currently holds around $700 million worth of tokens. Brian Smith, a MangoDAO contributor who helped lead the treasury proposal, said: “Mango development team has contributed a lot, and I hope governance becomes more effective in the future”.
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