MakerDAO Rejects the Creation of an Advisory Board

The community of DeFi project MakerDAO has rejected a proposal to set up a lending advisory board. More than 30% of the total number of MKR tokens in circulation participated in the voting on the initiative.

The MIP39c2-SP33 proposal called for the creation of a “Lending Oversight Core Unit” (LOVE-001). Its author was Luca Prosperi, head of the relevant department at MakerDAO.

The publication reads:

“The unit will contribute to the development of the platform by developing an advanced framework for checks and balances, acting as an additional line of defense and helping to educate the community.”

According to Prosperi, LOVE-001 could become a focal point for MakerDAO and increase the stability of the platform. The unit was also meant to advise the DAO on difficult issues.