Dsquared.finance (DSQ)

Dsquared.finance (DSQ) is a cryptocurrency project that has recently experienced a significant disagreement between its founders, BWS Labs and HessianX. The dispute primarily revolves around allegations of mismanagement, financial disagreements, and breach of contract. Despite attempts at negotiation, no resolution has been reached, leading to the organization of a community vote to determine the project’s future direction. The options on the table include either proceeding without BWS Labs’ trading services or returning the remaining treasury funds to investors under the supervision of a professional liquidator.

The dispute between BWS Labs and HessianX centers around several key points. These include the cost of software development services provided by HessianX, the halting of payments by BWS Labs, the termination of the joint venture, and the lack of communication or backup plan from BWS Labs. Negotiations have broken down due to BWS Labs breaching confidentiality and circulating untrue and defamatory statements. In light of these developments, the project can either source an alternative trading supplier or license its software to white-label partners for business continuity.

A governance vote has been proposed to ratify either the Business Continuity Plan or the Liquidation Proposal. The Business Continuity Plan, put forward by HessianX, involves completing the software minimum viable product, recruiting a qualified trading team, and appointing an interim CEO independent of both BWS Labs and HessianX. If a suitable trading team cannot be found, the project may shift focus to providing technology services and offering managed vaults for community members and investors. BWS Labs will no longer be involved, and HessianX has offered to buy their tokens. The results of the governance vote will determine the future of dsquared.finance and its impact on DSQ token-holders.