Proposal to Disable Deposits on CEL

DAO Archive (SUBMITTED)
1

This proposal is expected to appear on Snapshot for voting on June 19, 2022 (Lisbon) . Make sure to stake your vBNT for voting before this date and time to participate in the DAO decision.

To pass, this proposal needs a quorum of 35% and 66.7% FOR votes.

TL;DR

  • The $CEL token was migrated to V3 following BIP17: Snapshot
  • Celsius recently put users on HODL mode making it harder to withdraw assets
  • As per CoinDesk, “Crypto Lending Service Celsius Pauses Withdrawals, Citing ‘Extreme Market Conditions’” Crypto Lending Service Celsius Pauses Withdrawals, Citing 'Extreme Market Conditions'
  • Pausing withdrawals is not okay, and I propose with disable $CEL deposits.
  • This is not the type of token/project our DAO should support

Voting Instructions

  • To disable deposits permanently on $CEL, vote FOR this proposal.
  • To do nothing, vote AGAINST.
  • You may ABSTAIN to help reach quorum, without making a decision one way or another.
4 Likes
2

Agree with this to prevent possible manipulation while price tanks (see UST depeg etc.)
But also shouldn’t be an issue since down-only is minimal IL risk

1 Like