Posting in text format, for Google indexing:
As many maybe know, ve-tokenomics reason to exist is to prevent governance attacks, making decision makers take long-term responsibility over their actions.
Can this be bypassed? Yes, if lock rules themselves are upgradable by governance.
Do we have a precedent? Yes, now we do.
CAKE insiders lock some CAKE tokens and, essentially, erase all the governance rights and rewards rights from existing veCAKE holders. Governance attack at its finest.
Best part? They also force-unlock their tokens once the proposal has passed, because governance (in which they just got rights by locking) can do it.
So: upgradability is a bug. Don’t make your veGovernance upgradable, especially the lock part.
Source: X/@ newmichwill (cannot post images here)
Would love to see a response from @ChefMaroon