MakerDAO stakeholders vote down security proposal to address ETH collateral risk
January 3, 2020, 11:36AM EST · 3 min read
- 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 […]