Mango Markets DAO is voting on the "SEC Settlement Proposal."

ChainCatcher news, Solana's decentralized exchange Mango Markets is voting on a settlement agreement with the U.S. Securities and Exchange Commission regarding alleged securities violations.

The DAO has proposed a solution where Mango Markets will pay a fine of $223,000 to the SEC, destroy its held MNGO tokens, and seek to delist from the trading platform.

The proposal aims to address the SEC's allegations while avoiding litigation and does not admit or deny any wrongdoing. The proposal has reached a quorum with 106,717,813 votes, all voting "in favor."