# Proposal to Disable Deposits on CEL

**URL:** <https://gov.bancor.network/t/proposal-to-disable-deposits-on-cel/3667>\
**Category:** DAO Archive (SUBMITTED)\
**Created:** [June 13, 2022, 4:53am UTC](https://gov.bancor.network/t/proposal-to-disable-deposits-on-cel/3667 "2022-06-13T04:53:16Z")\
**Posts on this page:** 2\
**Page:** 1

<div class="post-metadata">

**Author:** ![eldude](https://avatars.discourse-cdn.com/v4/letter/e/c6cbf5/32.png) [@eldude](https://gov.bancor.network/u/eldude)\
**Post date:** [June 13, 2022, 4:53am UTC](https://gov.bancor.network/t/proposal-to-disable-deposits-on-cel/3667/1 "2022-06-13T04:53:16Z")

</div>

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](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/](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.

---

<div class="post-metadata">

**Author:** ![sylentz](https://dub1.discourse-cdn.com/flex013/user_avatar/gov.bancor.network/sylentz/32/147_2.png) [@sylentz](https://gov.bancor.network/u/sylentz)\
**Post date:** [June 13, 2022, 6:23pm UTC](https://gov.bancor.network/t/proposal-to-disable-deposits-on-cel/3667/2 "2022-06-13T18:23:43Z")

</div>

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