News+

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 […]

Subscribe to The Block News+ to
Unlock this Feature

Choose Your Plan

Save $ vs. paying monthly

Annual

$
per year
Join Now

Monthly

$
per month
Join Now

Questions?

If you want to know more about what you get with a Membership, or you need help convincing your manager, we got you covered. You can find the details and learn more about the benefits by clicking the link below.

Related Reading

Bitcoin mining firm Genesis Digital Assets raises $431 million led by Paradigm

Iceland-headquartered bitcoin mining firm Genesis Digital Assets has raised $431 million in a strategic funding round led by investment firm Paradigm.  Genesis Digital Assets said in an announcement on Tuesday that other investors in the round included NYDIG, Stoneridge, FTX, Ribbit, Electric Capital, Skybridge, and Kingsway Capital. Kingsway also invested $125 million in a previous […]
Read Full Story
Sep 22, 2021, 2:30AM UTC
More