Cryptocurrency

Aptos-based DeFi protocol Arco offers refund option after IDO issues

Zegex

Arco, an Aptos-based (APT) DeFi protocol, has asked the community to decide its fate after its initial DEX offering (IDO) failed on October 29th, causing protocol issues.

The team announced that the protocol had more than 300 people depositing at the same time, causing network congestion and delays. $ARC Token claim process.

Separately, the team revealed that several partners in the DeFi protocol have terminated their partnerships due to issues that occurred during IDO. was also included.

Arco says these issues have resulted in “contributors calling us scammers and even the media insinuating that we are planning to take our money and run away with it.”

Arco Protocol posted a Twitter poll asking the community to decide whether to refund users, hand over control of the project to the community, or trust the team to continue building the protocol.

On the other hand, Arco said, “The ArcoFamily was once the largest and most successful community in Aptos. We were united, unstoppable and stronger than any other project.”

As of press time, over 40% of the votes are demanding a refund from the project.

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