Maker token holders (MKR) refused to compensate the losses of collateral holders in the DeFi project MakerDAO, liquidated during the March market downturn. The poll results published in the voting system.
The platform’s token serves not only as the ‘fuel’ for paying fees for the use of smart contracts, but also gives every MKR holder the right to vote. The vote results in a majority-backed decision being adopted.
From September 8 to 22, 38 voters who together held 87,899 MKR participated in the compensation-plan poll. The option opposing compensation received 65% of the votes (more than 57,000 MKR).
Source: Maker Governance Portal.
Back in March, due to flaws in the Auction Keeper system amid the Ethereum price collapse, attackers siphoned off more than $8 million from MakerDAO.
In April, investors filed a $28 million class-action lawsuit against the Maker Foundation and several affiliated entities. They accused them of deliberate misrepresentation of the risks associated with owning CDPs (collateralized debt positions).
Later, in its report, the Maker Foundation announced changes made to the MakerDAO system to prevent such crises in the future.
ForkLog wrote about the lessons from DeFi’s ‘Black Thursday’ in a piece.
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