Liquid It faces one of the most complex challenges since its establishment related to gel and governance code.
suddenly to cross out One of the permanent contracts associated jelly It sparked a series of reaction to criticism, loss of confidence, and the fluctuation of the market. However, it has also become a starting point for a deep renewal of the protocol and the system of governance.
What happened with Jelly at the height of the liquid?
Everything began Suspicious movements in the markets related to gel symbol. In response to these abnormal dynamics, the sound of the liquid network befriending the immediate deletion of the permanent contracts associated with the original.
A radical decision, but it is necessary to protect users from possible manipulation and maintain the integrity of the protocol. The removal of contracts has been approved through The internal voting mechanism for the fighters.
To reduce the economic damage suffered by the concerned users, Fyric Foundation has announced an automatic recovery program based on the series, except for the addresses that were identified as suspicious or related to fraudulent behavior.
Criticism and comparison with FTX
The intervention, despite what it justifies according to the excessive liquid team, sparked strong criticism in the encryption community, which sparked a hot debate about transparency and Decentralization of the protocol.
Among the most important voices, those Grie Chen, chief executive officer PeterOne of the main central exchanges in the sector. In a tweet that was viral, he compared to what happened on the height of the liquid to a collapse FTXWith highlighting how, even in environments that define themselves as a central power, the decision -making force is sometimes concentrated in a few hands.
According to Lishn, the unilateral anomalies without a clear process of general consensus reflect the unrivaled and possibly ripe governance, just as in the case of FTX, where the central decisions led to a disaster.
It touches the criticism with a major point: How much is it central to the Defi platform if it is possible to make decisive decisions by a small number of auditors without notice?
Fluid elevation responses: Governance on the new series and rules
Pay the general pressure to respond with concrete actions. A new risk management framework has already been presented, with the aim of increasing transparency and promoting decentralization.
Among the main innovations of the liquid and its rule
• Series voting system As for the deletion: every decision will be taken directly on Blockchain, and avoid coordination outside the chain. If the legal quorum is unfortunately between the auditors, the procedures will be carried out automatically through the Hypercore engine.
• General announcement of voting intentions: In the upcoming updates, investigators will be asked to deliver their decisions in advance, allowing society to prepare and express opinions.
On March 29, a test was made to delete myro to show new system functions. The auditors 2, 3, 4 and 5 threw their votes, while the auditor 1 chose to refrain from abstaining, pending the completion of the class authorization program.
Impact on the market: the noise tries to recover
The reaction of the distinctive symbol of the noise, the original on the liquid hyper platform, was negatively over the accident. On days after the deletion of gel, the price has lost about 28 % of its value.
but, It seems that the situation is slowly settling:
• The bear pressure decreases
• The technical support zone formed about $ 12.20
• The open interest started to rise again, indicating the renewal of an interest of investors
If the current support continues, it is not possible to exclude an attempt to oppose the direction and the return of confidence in the market.
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What do you expect now from the liquid?
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Excessive fluid has already announced a series of future updates to enhance its infrastructure:
• Public Governance Information Panel to follow up on all the decisions of the auditors
• The series checking tools, which will allow the community to verify each transaction and vote
• Improvements for class authorization facades, which facilitates participation for less experienced users
The goal is clear: building a transparent and safe environmental system that is truly controlled by its community.
Thinking: real decentralization or just a narration?
The Jelly episode is another evidence that decentralization is not an automatic condition, but it is an ongoing process that requires attention and ongoing updates and the desire to really share decision -making power.
Comparison with FTX, although it is strong, it stands out by an uncomfortable fact: even in the Defi protocols, There is a risk of centralization – It is precisely manifested when making decisions in non -transparent environments or without consulting the user base.
The liquid has interacted proactivelyBut it will be its ability to maintain these obligations over time and which will determine its success. In an industry in which trust is everything, the real challenge is not only technological, but cultural: building participatory, transparent and flexible governance.
