DYDX's proposal to "turn off existing security pledge modules" has been approved

BlockBeats news: On November 26, DYDX's proposal DIP 17 on "closing the existing security Pledge module (SSM)" has been passed. Previously, dYdX security pledge module allows users to pledge DYDX to provide insurance capacity in case of liquidity shortage event. The module will be shut down. The remaining rewards allocated to the security Pledge module will not be distributed, but accumulated in the reward vault, which can be at the disposal of the community. The 383,562 DyDXs currently allocated to the DYDX pledge will be accumulated in the reward vault. The dYdX community can vote to redirect DYDX from the reward vault based on a short time lock requirement. In addition, if necessary, additional proposals can be submitted to transfer DYDX back to the community Treasury. The team research shows that SSM is not an effective insurance fund because of the practical difficulty of cutting SSM and the fact that DYDX Tokens are sold at a lower price in the event of a liquidity shortage due to market contagion and lack of liquidity.