While this could have been worse - in terms of bad debt - it is an important reminder of the value of risk management. Additionally, today’s chaos is a reminder of how public our protocols health is.
Transparency can be a strength of the protocol and other days, a weakness. Publicity of this “trading strategy” drew more eyes, attention, and negative sentiment toward the protocol’s native token.
I would also not be surprised if Avi is reading this - so hey, well done.
We are supportive of changes proposed by @Pauljlei and V3 supply caps by @OriN and encourage more proactive efforts, preparing users for the deployment of V3 mainnet.
There seem to be more reminders; the sooner this market is released - the more control we may have. @bgdlabs we will work alongside you to make this process easier, including today’s proposal.
I am grateful for discussions happening in parallel such as @monet-supply’s thread. Today, and any day working alongside a DAO is a reminder of improving processes and controls 