2026-01-08 01:23:50

A major investor in the BNC ecosystem has publicly challenged board governance, alleging defensive tactics including poison pill provisions and bylaw modifications designed to obstruct shareholder oversight. The dispute centers on a delayed annual shareholder meeting, scheduled well beyond mid-December, alongside disagreement over the protocol's treasury allocation strategy. The investor contests a potential pivot in blockchain focus, questioning whether the organization should maintain commitment to one chain or explore alternatives—a decision with significant implications for ecosystem liquidity and developer activity. These governance tensions surfaced in regulatory filings, highlighting the friction between institutional stakeholders and board leadership on strategic direction. The standoff reflects broader Web3 governance challenges as protocols scale and stakeholder interests diverge.

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GateUser-5854de8b

· 01-08 01:51

The poison pill strategy is really just traditional capital tactics brought into the crypto world.

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TerraNeverForget

· 01-08 01:45

Is it the same old poison pill? This BNC has really learned the sneaky tricks of traditional finance. --- Single chain or multi-chain, this thing determines life or death... Without liquidity, nothing else matters. --- Regarding governance, Web3 is still too immature, being played thoroughly by institutions. --- Waiting until December to hold the board meeting? Clearly just stalling for time. --- How to allocate the treasury is a major issue, and now it’s even being used as a bargaining chip. --- Wow, the regulatory documents are all laid out openly. This is getting serious. --- Single chain vs multi-chain, choosing the wrong one could ruin the entire ecosystem. --- With such severe利益分化, can BNC even survive? --- Is this what they call "decentralization"? Uh... --- Endless defensive strategies indicate that someone is really panicking.

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TideReceder

· 01-08 01:43

Coming back with this set again? Poison pill is so outdated, do you really think we're fools? --- Single chain or multi-chain, can't figure out this problem, how to grow big and strong? --- Delaying the shareholders' meeting... this is just stalling for time, it's obvious. --- Internal conflicts within the ecosystem, liquidity suffers, developers should have left long ago. --- Board's tactics are brilliant, just missing directly saying "you have no rights." --- Treasury distribution must be transparent, or who will trust you? --- Feels like Web3 governance is becoming more and more like traditional corporate drama, isn't it? --- If investors dare to openly confront, it means the issue is serious. Waiting for the follow-up. --- Multi-chain ecosystem is just like this, in the end, it still depends on the stability of a single chain.

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OnchainHolmes

· 01-08 01:40

It's the same old story, poison pill to block investors... Does this board really see themselves as Ironclad Warriors? Internal conflicts within BNC are heating up. Multi-chain or single-chain? It feels like a game of power in the new era. Treasury allocation has been stuck for so long. I think it's all about disagreements over profit sharing. Delaying the shareholders' meeting—this move is brilliant... but it will blow up sooner or later. The debate between sticking to a single chain and expanding to multiple chains boils down to fear of losing control. This governance chaos, the ecosystem token should have been destroyed long ago. The board wants to monopolize the discourse power, how can investors tolerate that? Exciting times. A soul-searching question: who should really have the final say?

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GateUser-beba108d

· 01-08 01:35

It's the same old trick again, the poison pill clause🙄 Do you really think we're all fools? --- Single chain or multi-chain, this should have been discussed openly long ago. Why does it have to be dragged into regulatory documents? --- The BNC board of directors is really causing trouble. You've already drained the liquidity with your internal conflicts. --- Wait, postponing until mid-December? What about the liquidity? Are the developers still around? --- Investors daring to oppose indicate something's wrong. The tight defensive stance makes it even more suspicious. --- The direction of the protocol should be openly discussed. Stop with these delaying tactics.

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