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> Solend had "governance", which has the explicit goal of allowing for decentralized decisions to upgrade the contract and change the rules of engagement. I’m

by mcintyre1994 4y ago

> Solend had "governance", which has the explicit goal of allowing for decentralized decisions to upgrade the contract and change the rules of engagement. I’m not sure if this was true before 24 hours ago? If you click back on the link of this post you get to the DAO page: https://realms.today/dao/SLND https://realms.today/dao/SLND It seems that the vote to take control of the whale account was the first ever vote of this DAO. The Solend twitter account also refers to it as the first governance vote: https://twitter.com/solendprotocol/status/1538441350441422848 https://twitter.com/solendprotocol/status/153844135044142284... I’m not sure exactly when the Solend DAO was formed, but it doesn’t seem true that past users were involving themselves with a Solend that had governance. That seems to be an innovation specifically to solve this problem.

gruez 4y ago
>I’m not sure exactly when the Solend DAO was formed, but it doesn’t seem true that past users were involving themselves with a Solend that had governance. That seems to be an innovation specifically to solve this problem. A quick search for "site:solend.fi governance" kinda disproves this. There aren't any explict pages on how governance works, but there are pages[1][2] (last modified 2 months ago) that havementions to governance tokens. [1] https://docs.solend.fi/Architecture/access-controls https://docs.solend.fi/Architecture/access-controls [2] https://docs.solend.fi/protocol/bug-bounty https://docs.solend.fi/protocol/bug-bounty
- mcintyre1994 4y ago
  Kind of. The first link has: > For now, there isn't a timelock program, but transitioning to governance in the future will cause upgrades to go through a governance vote as well. So not really suggesting any currently functional governance, which makes sense given they never did a vote before. That said the important thing here is probably that they document an upgrade authority, and that they control its keys. The second link mentions governance only in the context of types of attacks that are in scope for a bug bounty, which doesn’t really tell users anything about governance. I wouldn’t be surprised if they copied this from somewhere TBH, it doesn’t seem very tailored.

gruez 4y ago

>I’m not sure exactly when the Solend DAO was formed, but it doesn’t seem true that past users were involving themselves with a Solend that had governance. That seems to be an innovation specifically to solve this problem. A quick search for "site:solend.fi governance" kinda disproves this. There aren't any explict pages on how governance works, but there are pages[1][2] (last modified 2 months ago) that havementions to governance tokens. [1] https://docs.solend.fi/Architecture/access-controls https://docs.solend.fi/Architecture/access-controls [2] https://docs.solend.fi/protocol/bug-bounty https://docs.solend.fi/protocol/bug-bounty

mcintyre1994 4y ago
Kind of. The first link has: > For now, there isn't a timelock program, but transitioning to governance in the future will cause upgrades to go through a governance vote as well. So not really suggesting any currently functional governance, which makes sense given they never did a vote before. That said the important thing here is probably that they document an upgrade authority, and that they control its keys. The second link mentions governance only in the context of types of attacks that are in scope for a bug bounty, which doesn’t really tell users anything about governance. I wouldn’t be surprised if they copied this from somewhere TBH, it doesn’t seem very tailored.