We should not forget the crucial, underlying promises that DeFi is built upon:
Everyone is given equal rights to interact with smart contracts in a trustless way. There is no censorship, there are no exceptions, there is no authority besides everyone’s secret, private key. Smart contracts -and thus all actions someone takes- are deterministic. Their outcomes are guaranteed to all involved parties which have signed said contract with their private key.
That being said, LPs that have signed the migration to V3 have agreed to
- unlimited deposits
- Instant Impermanent Loss Protection
- Revised tokenomics
- Their surplus not being migrated to V3
- etc.
Others have decided to not migrate and to not accept V3 terms. They continue using V2.1 under V2.1 terms.
A DAO vote that forcefully moved positions to V3 would not only undermine the fundamental principles of equal rights, trustlessness, and determinism. It would also break the self-sovereignity of LPs over their tokens and force the LPs to terms that they have never signed or agreed to.
What we all did agree to was -among others- ILP protection and the right to withdraw at any time. I understand that these privileges have been paused by a rightful DAO vote and I agree to this decision. Aforementioned points of breaking fundamental ideas of DeFi, though, is something which I can’t accept.