Balancer hack: hard fork

I support the fork as the soft fork is already done. Time to give the money to the victims.

But this needs some rules: the money is stuck and we can return it even later, but we need some constitution or guidelines for the fork.

What if a team member or somebody influential gets hacked, then he would push for a fork? But if some users without power get into trouble, the team might not intervene as they aren’t affected.

This creates a serious moral hazard:

  • Protocols may become careless about security, assuming they can always be “saved” by a hard fork.
  • Users won’t know whether their funds will actually be protected, or only protected if they are important enough.
  • Validators are pushed into making political decisions instead of just enforcing the network rules.

There might be other scenarios, but hard forks should have some rules or guidelines set.

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