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Someone is attempting to buy the house, but the tenant is resisting. Zinc has come out against ZKFG-007, a MetaDAO proposal to acquire ZKFG governance tokens at $0.15 USDC each, a move that would effectively take Turbine Cash DAO LLC private.
The proposed price appears generous on paper. ZKFG is trading at roughly $0.0847, meaning the $0.15 offer represents a premium of about 77% over the current market price. The offer is also about 1.5 times the token’s original ICO price.
Zinc says its priority is continuing to generate revenue and provide updates to the community rather than cashing out through a two-day Dollar Cost Averaging mechanism proposed by MetaDAO as the acquisition vehicle.
According to the article, the ZKFG token functions as the governance and ownership instrument for a MetaDAO project that raised nearly $969K during its initial coin offering. Zinc’s tokenomics also include a revenue split that directs 1% to the ZKFG treasury, creating a recurring income stream for holders.
This is not the first time a buyout attempt has stalled. A prior proposal, ZKFG-006, failed due to what were described as escrow and execution flaws. Zinc has distanced itself from MetaDAO’s current effort, indicating that the earlier failure did not build confidence in the process.
MetaDAO uses a futarchy governance model, where proposals are traded in conditional markets rather than decided through simple token-weighted voting.
The article notes that a previous proposal for an OTC sale of up to 2 million ZKFG tokens at a 25% discount was approved through this system. That suggests MetaDAO’s governance mechanics are not inherently hostile to deals, but the market’s acceptance of this specific transaction—at this price and with these consequences—remains the key question.
The 77% premium over the current market price could appeal to holders considering an exit. For investors who bought near the ICO price, the offer is described as roughly a 50% premium over entry, while those who bought recently around $0.0847 could view the nearly doubled exit as difficult to ignore.
However, Zinc’s opposition shifts the framing toward long-term value. If the revenue-sharing model continues and the project grows, the article says Zinc’s implicit argument is that the value of holding ZKFG could exceed $0.15.
Coinbase has launched a High Yield USDC vault within its in-app DeFi lending offering, adding a second lending option that provides exposure to a wider range of collateral assets. The product is powered by Morpho infrastructure and uses vault allocations curated by Steakhouse Financial.
