🚨 Given recent Scroll developments and uncertainty,
Aave's ACI proposes changes "to mitigate potential risks arising from ongoing governance instability within the Scroll ecosystem"
• Reduce borrow and supply caps to current level on all assets
• Increase Reserve Factor to 90% for all assets
Aave is the 4th largest scroll protocol, with 6M TVL
Today: Scroll DAO 📜 governance is to be "paused"
DAO leadership resigned, but gov proposals are still live, ongoing. Straight from today's delegate call:
1. Haichen @shenhaichen (cofounder of SCR) started: they are "redesigning governance"
2. Raza @razacodes (SCR team member): They don't want to say "STOP"/"Dismantle" governance, they want to say "PAUSE". Much attention to wording.
3. Debate still ongoing as to what to do with current live proposals of this cycle. For example, there's a treasury management proposal and they have to decide if they'd honour it or not.
4. DAO leadership (Eugene) resigned this week
5. Scroll leadership (Raza) didn't entirely know which proposals were live, or much of what had been approved in the past
6. Reasons (and process) are also unclear at the moment. They asked for time to put everything in order and lay next steps
7. They used the word "EXPERIMENT" a few times
8. They don't have a clear view of next steps as of now
TLDR: they are redesigning governance, but the pathway forward is unclear; it seems to me like they'll take a centralized approach. No clear comms yet, or transparency, or plan. Just a "pause" announcement.
Meanwhile, olimpio still top #4 in governance power with 176K SCR. As always, thanks to all delegators 🫡. Will keep updated
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