Proposal to Disable Deposits on CEL

[eldude]

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: https://snapshot.org/#/bancornetwork.eth/proposal/0xb4dbbc5edb107d03bc43ebc23f37e996a3a04cb85ae6de2fbfe4860281e3987f
• 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’” https://www.coindesk.com/policy/2022/06/13/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.

[sylentz]

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