Update: The vote has now passed. Thanks to all who voted!
Based on the recent goings on regarding flash loans, and the general concern over the risk of governance attack it seems likely that we are going to put an executive proposal to activate the GSM on-chain on Friday.
Once the GSM executive goes live on Friday we need to make sure that it is activated as quickly as possible in order to minimise the risk of governance attack.
In the meantime, in order to defend against a possible governance attack, consider moving your MKR to the ‘Hat’ proposal.
So, to conclude, I am asking MKR Holders to do two things.
1. When this weeks executive vote goes up (Friday, 12pm EST), please review it promptly, and seriously consider voting to activate the GSM as quickly as possible. It is critically important that this is activated as soon as possible.
2. Vote for the current hat proposal prior to Friday. This is the executive proposal that has already passed, and was created the Friday before last. The more MKR on this proposal, the safer the Maker Protocol is from attack. Current hat proposal can be found here: https://vote.makerdao.com/executive-proposal/activate-the-savings-rate-spread-and-the-sai-and-dai-stability-fee-adjustments