Is CongruentFi a Scam Project?

Key Takeaways:

Sudden Price Drop
Sudden Price Drop

Below is a quick overview of this project.

Congruent.fi has described itself as the leader in the Governance Token (GovFi) space by accumulating top-quality DeFi protocol governance tokens, developing new Governance-as-a-Service products, and optimizing governance of people, protocols, and tokens to unlock hidden value.

The main reason for this slippage is that the community has voted in favour of liquidating the treasury. While the outcome saddens the team, they have said that they are a DAO after all and must follow the decision of the community and will begin preparations to implement the liquidation.

The team has thanked everyone who came out to vote and voiced their strong support during the last few days. It meant a lot to them. They will keep everyone posted on the process as it develops and the next steps.

In preparation for the snapshot, all those who have vGaas currently in the process of unstaking will need to cancel the unstaking process before April 30 at 5 pm UTC so that those tokens will show up in the snapshot. Failure to cancel the unstaking before April 30 at 5 pm UTC when the snapshot is taken will result in those tokens being ineligible for the snapshot.

Also, note that, in accordance with the proposal, the LP will be removed by April 29 at 5 am UTC. Therefore, if users wish to sell their tokens before the LP is removed, please do so before then.

People who hold GaassGaaswsGaas, or vGaas are not required to do anything.

As crypto scams are increasing nowadays, our readers should stay alert.

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Yash Kamal Chaturvedi

Btech Computer Science, Maharshi Dayanand University, Rohtak (2023)

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