For people that don’t know the background on this, I’d suggest reading up on the gov-sec module tag.
The last executive to activate this failed to pass. There are a number of reasons why that could have been the case, whether it’s because MKR Token Holders didn’t want the gov-sec module activated, or because the bar set by MKR securing the previous executive was too high, or something else.
The basic trade-off for activating the governance security module is thus: Defence against theoretical crypto-economic attacks by a well-funded attacker vs. Defence against technical smart contract issues.
I don’t feel that I’m qualified to judge which of these is more severe. But I’ve heard differing opinions from various people that I would expect to be able to judge the level of these risks, enough so that I am still unsure whether it should be activated.
Personally I’m leaning towards yes, we should activate it with the 24 hour delay. This gives us a minimum level of defence against theoretical crypto-economic attacks while still potentially allowing reaction to a technical issue in the Maker Protocol smart contracts.
Such an attack only needs to happen once for everything to fall apart. Regardless of the relative likelihoods, the severity of such an attack would be very high especially considering we knew about the possibility and voted against mitigating it.
If anyone more able to speak to their judgement of risk here wishes to add their comments, I’d be happy to add them to this initial post.
- Yes, we should have another executive vote now.
- No, we should not have another executive vote yet.
- Abstain (I just want to see results)
- Abstain (I have no opinion)
- Abstain (I don’t feel I am knowledgeable on the subject)
- Abstain (I disagree with the poll options)
- Abstain (I have a different objection)
This poll will close on 20th February 2020 immediately after the Governance and Risk meeting, this will allow time for governance to take into account new information regarding the ‘darkfix vehicle.’
Previous statement: I will evaluate the progress of this request on 18th February 2020. At that time, this poll will either be closed, or extended if there has not been a reasonable amount of participation.