Conversation

2) NOT INVESTMENT ADVICE. Really not advice of any kind. I obviously have conflicts of interest here. Take that for what you will.

3) in case you were living under a rock, or for some reason prioritize the rest of your life above crypto twitter drama (priorities people!)-- yesterday this was proposed for CREAM governance: snapshot.page/#/cream/propos

4) Let me start with a few high level remarks: first, that I understand where this is coming from, and some version of it isn't crazy! There's a lot of FTT on

@CreamdotFinance

right now. I think that some version of a cap on single assets put there would be reasonable.

Address 0xDa495C2Ab0a91623564126778D5AB20fA87C1DFc | Etherscan

5) Second, I understand governance here and if the CREAM community wants a change, ok. But I'm skeptical of the current system: As of now a single address is >75% of all votes: etherscan.io/address/0xDa49 which is fine! but a bit ironic. Also how does a 3 choice vote resolve?

etherscan.io

The Address 0xDa495C2Ab0a91623564126778D5AB20fA87C1DFc page allows users to view transactions, balances, token holdings and transfers of ERC-20, ERC-721 and ERC-1155 (NFT) tokens, and analytics.

6) Anyway: There are a lot of problems with the proposal. I'll start just by noting the inaccuracies.

7) a) "3 - If FTT were de-listed, no other users would likely be impacted; there is very little supply volume, and very little borrowing demand for FTT" False. This would drastically reduce borrow demand, lenders would no longer get interest, and TVL would go way down.

8) b) "5 - SBF borrowed YFI which destroyed its price, he sold it on Binance and other exchanges - only once he was caught, did YFI go back up" False. 200 net YFI short over days does *not* destroy it! This is just off by an order of magnitude. The impact wasn't huge.

Replying to

and

Catching up on the drama, but did you

@SBF_Alameda

borrow YFI and then dump the price on exchanges to make the short profitable? Did you not see anything wrong with that? Would that be market manipulation in a normal market? Genuinely asking, not sure.