Vote Update
MIP-X73: mToken Internal Cash Accounting Upgrade
Voted YES. I’m in support of this one. At the moment, anyone can send tokens straight into a market and change its cash balance without going through the normal supply checks. I don’t think that should be possible, because it can mess with the exchange rate and let someone get around supply caps. Donation attacks like this have been a known weak spot for Compound-style markets for a while, so I’m glad we’re closing it across Ethereum, Base and OP Mainnet at once. I also like that governance can only sweep the extra tokens, not the cash backing the market.
MIP-X74: Align Base and Optimism ETH Derivative Oracles with the WETH OEV Feed
Voted YES. I agree with this change. For about 10 seconds after each price update, WETH and the ETH derivatives (cbETH, wstETH, rETH, weETH, wrsETH) are being priced off two different ETH prices. If ETH is falling, a liquidator can take more than the 10% bonus from someone borrowing WETH against one of these assets. From my read, a 2% ETH drop in that window gives the liquidator roughly 2.2% extra, and the borrower pays for it. That doesn’t feel fair to borrowers. Having both sides read the same ETH price fixes it cleanly. The only cost I see is some liquidations waiting up to 10 seconds, which I think is a fair trade. It also builds on MIP-X72, so it makes sense to pass this right after.