Dash User Launches Vote to Demote CEO Ryan Taylor, Company Burning $500K Per Month

After a referendum was launched to demote Dash CEO Ryan Taylor due to missed deadlines, one disgruntled Dash community member put the privacy coin's decentralized governance model to the test.

Submitted Aug. 6 by user SavingPrivateDash, the proposal suggests that Taylor should be bumped down to an advisory role and that human resources should appoint a new CEO. As a network governed in a decentralized fashion, Dash designates the power of voting solely to masternodes.

For the cost of 5 Dash, any user may propose changes and initiate a vote, which is what was done by the pseudonymous SavingPrivateDash.

Down over 91 percent from its January all-time-high of $1,561, Dash has been one of the bigger losers of the top-25 by market capitalization.

The entire market's unrelenting downturn may be unremarkable, but SavingPrivateDash is pointing the finger at Taylor.

"Ryan destroyed the market's confidence in Dash by repeatedly breaking promises and missing deadlines. Dash was once valued at 0.09BTC and it is now 0.02, in spite of millions of dollars available to him. Vault accounts, usernames, friends lists, easy to use mobile wallets, marketplace. None of the 2016 promises were kept."

SavingPrivateDash, who claims to be a masternode operator, lists various unfulfilled promises and "Mistakes" presumably made by Taylor.

On the development front, the user seems mainly concerned by the apparent lack of progress on Evolution, Dash's new decentralized payment platform.

The document's author appears equally scornful of Bradley Zastrow and Fernando Gutierrez, Dash's head of business development and chief marketing officer, respectively.

"I do not have any other alias and I do not post on Reddit, Dash Forum or Discord, because Dash communities are not welcoming to criticism."