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RE: Once Justin is Purged From Steem, I think Steem Should Adopt Telos Rules: No Exchanges Are Allowed To Vote on Blockchain

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Once Justin is Purged From Steem, I think Steem Should Adopt Telos Rules: No Exchanges Are Allowed To Vote on Blockchain

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erickpinos (52) in telos • 5 years ago

Would this apply to just exchanges? What about custodians in general? What about pools?

I think we should try to curb centralization but I don't necessarily like the idea of placing restrictions on proxy voting. What if instead people who choose to stake with an exchange have to "opt-in" to let the exchange vote on their behalf.

telos savesteem steem governance

5 years ago by erickpinos (52)

$0.02

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stellabelle (75) · 5 years ago

Exchanges cannot be involved in governance on Telos. We see how they act without consent of their users, and telos learned a lot from observing Eos slowly get taken over by exchanges...

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stellabelle (75) · 5 years ago

there are not restrictions on proxies at all. anyone can set up a proxy, even exchanges. However no one may vote using tokens that do not belong to you. The telos system works well, and this entire takeover would not have occurred on Telos. Steem has serious flaws.

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erickpinos (52) · 5 years ago

I agree, Steem has serious flaws.

It's the same reasoning why exchanges should forward any airdrops that happen to its users'.

I think this goes beyond exchanges and expands to any custodians. BitGo, Coinbase Custody, BlockFi etc. If they start offering Steem, they shouldn't be able to vote with the stake either.

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