Maker DAO drama flares amid proposal to tackle ‘governance attack’
Referenced by
Sky’s governance proposal divides community
Crypto news
News story
The screenshots in question can be found in this post from Phoenix Labs’ CEO Sam MacPherson (a Spark and ex-Maker contributor) and detail a plan to accumulate MKR voting power and conduct a “takeover” of the protocol’s governance.
Crypto news
Quote
The debate kicked off when GFX Labs’ PaperImperium — a long-time Maker community member and regular critic of the project’s recent direction — took to X to raise concerns over a fast-tracked governance proposal which relaxes restrictions on borrowing against the MKR governance token. The changes which, according to the thread, ”bypassed due process” would have the effect of “>2x the credit line for MKR holders, and raise the LTV from 50% to 80%”.
Crypto news
Quote