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Stargate DAOStargate DAOby0xCff5be1cf3C7Cfe073Ade82d1dC27be33c998D6e0xCff5…8D6e

Deprecation of METIS Pool on BSC

Voting ended over 2 years agoSucceeded

Proposal: Following the recent PolyNetwork exploit over the past weekend that significantly impacted the Metis token on BSC, we hereby propose the deprecation of METIS-BSC pool and pathway on the Stargate bridge. This measure will eliminate potential vulnerabilities that might jeopardize the safety of our community members' assets.

Rationale: --Security: Given the recent exploit, we have concerns about the potential implications on our systems. This concern arises from the potential exposure of our network to similar vulnerabilities that led to the recent exploit from PolyNetwork. --Trust: We are fully committed to preserving the trust and confidence of our community members. By taking proactive measures to secure their funds, we believe that we can maintain this trust and continue to build a safe, reliable decentralized ecosystem. --Risk Mitigation: Deprecating the pool would allow us to substantially mitigate any potential risks and ensure the safe operation of Stargate as a bridge.

Proposed Next Steps: In the spirit of transparency, we outline the next steps that we would take in the process of deprecating the pool: --Communicate with both communities --Disable pool --Close pool

By taking these steps, we believe that we can significantly mitigate the potential risks posed by the PolyNetwork exploit while also ensuring the ongoing security and integrity of our platform.

We welcome and encourage constructive feedback and alternative viewpoints from the Stargate DAO community on this proposal.

Thank you for your time and consideration.

Off-Chain Vote

Yes
7.34M veSTG93.4%
No
301.6K veSTG3.8%
Abstain
216.2K veSTG2.8%
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Discussion

Stargate DAODeprecation of METIS Pool on BSC

Timeline

Jul 12, 2023Proposal created
Jul 12, 2023Proposal vote started
Jul 15, 2023Proposal vote ended
Oct 26, 2023Proposal updated