MakerDAO stakeholders vote down security proposal to address ETH collateral risk

Quick Take

  • MakerDAO stakeholders failed to approve an executive vote on a security proposal intended to help address a previously reported exploit risk.
  • Mariano Conti, head of smart contracts at MakerDAO, told The Block that the vote came close but ultimately did not pass.
  • Conti added that there will be another vote on the GSM in the future.
The MakerDAO community – for now, at least – has declined to activate a security feature that seeks to prevent the possible loss of all of its ether (ETH) collateral to would-be exploiters.  One element of the MakerDAO system is the Governance Security Module (GSM), which is designed to give MKR token holders – who […]

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Sep 22, 2021, 2:30AM UTC