Convex DAO Vote: Revocation of Mochi's voting weight

As many are probably aware, Mochi ( https://twitter.com/MochiDeFi ) founded by Azeem ( https://twitter.com/AZtztk ) used Mochi tokens, combined with the Mochi lending platform and a fixed price oracle, to lend themselves 46M USDM. They then extract DAI from their own factory pool using the USDM, which was arguably created illegitimately. Further, they swapped the DAI for ETH and used it to buy CVX tokens and vote-locked them ( https://twitter.com/AndreCronjeTech/status/1458588862998003713?s=20 and https://twitter.com/boredGenius/status/1458732732540854276?s=20 ).

These actions resulted in swift action by the Curve Emergency DAO to kill the USDM gauge rewards ( https://gov.curve.fi/t/the-curve-emergency-dao-has-killed-the-usdm-gauge/2307), as it is a clear governance attack against both Curve and Convex, as well as an attack on the USDM liquidity pool itself.

Curve, as well as several members of the Convex community, have asked that Convex take action against Mochi and Azeem. As this has wide reaching implications, and the epoch for the CVX that Mochi locked doesn’t start until the 18th of November, we are putting up for a vote to allow the Convex community to decide the appropriate course of action.

Convex has no ability to take away Mochi’s ill-acquired vlCVX, nor the ability for them to obtain the cvxCRV rewards for being locked.

A possible action is to revoke the protocol's ability to vote on proposals for the next 4 months that it is locked. This action could be reversed at a later date via another DAO vote. This will not stop the selling of the CVX tokens once the lock period is over, and will not stop the vlCVX earning cvxCRV rewards in the interim.

The Convex DAO can either:

• Take action, revoking Mochi’s vlCVX voting power from having any weight in Convex proposals.
• NOT take action, and allow the vlCVX to participate in governance votes.

Pros of taking action:

• Removes the ill-acquired vlCVX from voting in proposals and receiving Votium incentives

• Establishes a clear line of precedence for others to not cross.

• Prevents the vlCVX from being used for further disguised actions.

Cons of taking action:

• Revoking voting power can be perceived as against the laissez-faire ethos of DeFi.

• Does not stop the selling of the CVX tokens in the future when it unlocks.

• Does not prevent the receiving of cvxCRV rewards.