in , ,

MakerDAO Members Voting on a Safeguard Against BProtocol Flash Loan-Type Attack

makerdao-members-voting-on-a-safeguard-against-bprotocol-flash-loan-type-attack

  • The Maker DAO community is voting Friday on a proposal to change its governance system to harden it against flash loan attacks.
  • This proposal comes after the team from BProtocol flash borrowed $7 million worth of MKR tokens from derivatives platform dYdX to swing a vote on Maker in their own favor.
  • Maker DAO’s MKR token is required to vote on changes to the DeFi platform.
  • According to a Maker DAO forum post, the proposed fix extends the delay between a proposal’s passing and its implementation from 12 hours to 72 hours, which would give the community enough time to review and veto an unfair vote.
  • Additionally, the proposal would also deactivate two modules that allow users to freeze Maker’s liquidation engine and its oracle service.
  • The proposal is being put to an on-chain vote Friday, Oct. 30.

https://www.coindesk.com/maker-dao-vote-on-safeguard-against-flash-loan

Leave a Reply

Your email address will not be published. Required fields are marked *

bitcoin-developers-still-divided-on-specifics-of-taproot-activation

Bitcoin Developers Still Divided on Specifics of Taproot Activation

desperation-among-filecoin-miners-creating-a-big-market-for-fil-borrowing

Desperation Among Filecoin Miners Creating a Big Market for FIL Borrowing