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1) I think

has a really good point here! Nonetheless, I'm voting YES on 12. compound.finance/governance/add Why?

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Jul 1, 2020

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

Jul 1, 2020

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.

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.

10:34 PM · Jul 1, 2020Twitter Web App

Replying to

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.

SBF

@SBF_FTX

Jul 1, 2020

5) But all things considered I feel conflicted on this vote given what

@rleshner

said.