Re: FratDAO financial hazing incident

Today, we bore witness to financial hazing immortalized on the ledger.

FratDAO pledge @cap_asw sent ~0.152 MKR to MCD ESM

This represents the first deposit into the emergency shutdown contract ever recorded. As acting FratDAO Prez – I write to you to propose either of the paths outlined as immediate remedies to a grave risk.

  • A drastic increase of MKR needed to initiate an emergency shutdown.

  • A formal recommendation (from a certain governance community member) re: a more humorous alternative contract to receive financial hazing deposits.

As financial hazing (think frat findom) ramps up with incoming pledge classes, we expect the 50k MKR threshold to be reached in early Q1 2022 (could be much sooner idk).

While the Maker governance community would act to redeploy in such an event (see example framework outlined outlined ) – the ensuing network disruption would create a profit opportunity for bad actors in the space (read: Nancy Pelosi).

FratDAO financial hazing deposits would also be disrupted.

FratDAO is committed to remaining a beacon of virtue – we urge the Maker governance community to consider our recommendations.

In the bonds of brotherhood.

-0xThad

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FYI: Current MKR threshold is 75k MKR. Maker Governance - Emergency Shutdown Module
(It was increased at the beginning of the year AFAIK).

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There ya go - 0x0

Oh true ---- 75k good catch, was looking at old esd lmao

Seems like they have sent MKR to the old ESM contract. Thanks for the beer money :slight_smile:

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bro it’s a frat do u know how hazing works??

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We understand the hazing, but everything points to the fact that it may not be possible for the MKR to be recovered :confused:

bro thats the point the pledge burn the dai to pledge allegiance to fratdao

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Have you considered joining the Strategic Happiness Core Unit?

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lol ! :rofl: @aburban90

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i will accept the role of makerdao head of SHCU

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Why not Pledgemaster of MakerDAO?

Yeah, he deserves his own Core Unit!

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…Ok, I am gonna go back to work

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