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SBF
@SBF_FTX
1) I think
@rleshner
has a really good point here! Nonetheless, I'm voting YES on 12. compound.finance/governance/add Why?
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🤖 Leshner
@rleshner
Dharma has a deep familiarity with the Compound Dai market & rate model, and I agree with the economics & goals of Proposal 012. The community seems firmly behind this proposal, too. However, I plan to vote ⛔️ Against the proposal to say "not now, but soon". twitter.com/Dharma_HQ/stat…
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SBF
@SBF_FTX
Replying to
@SBF_FTX
2) I agree that this was a fast-tracked vote and ideally there would have been more testing. I also agree that this is not a particularly scary change and that
@Dharma_HQ
is a pretty trustworthy party to have written it. Generally I would vote no given that above.
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SBF
@SBF_FTX
3) However all risks have to trade off against each other. And I think there's risk in _not_ making this change. DAI is always a bit scary. DAI, when people have incentives to go big, is way scarier.
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SBF
@SBF_FTX
4) There's a real worry that DAI might replace BAT as the coin-du-jour on
@compoundfinance
and get hundreds of millions of open interest. DAI isn't known to stress-test very well (see: 12, March); I worry that the existing parameters on Compound are too lenient for it.
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