- The proposal aimed to give BNB Chain the discretion to seize BNB Bridge exploiter’s collateral.
- BNB Chain’s network activity remained high, but the coin was down 2% in the last 24 hours.
BNB Chain [BNB] recently submitted a proposal that aimed to somewhat reduce the coin’s liquidation for a key purpose. If passed, the proposal might have a larger impact on the coin’s price.
All about BNB Chain’s new proposal
BNB Chain recently published a proposal on the Venus forum. As per the official post, the proposal aims to give BNB Chain the discretion to seize the BNB Bridge exploiter’s collateral and repay its debts while avoiding any market liquidation of BNB.
It presented a plan to safely reduce the exploiter’s debts and potentially address the Venus Protocol’s shortfall. This will be achieved by using the exploiter’s funds.
The proposal also mentioned that, as of the 11th of December, the exploiter’s balance held 630,240.00 BNB as supply, along with 58,440,000 Tether [USDT] and 37,440,000 USD Coin [USDC] as borrow.
Since this proposal aims to reduce liquidation, it can somewhat have a positive impact on BNB’s price, as less liquidation can generally lead to less volatility.
BNB’s chart is red
As of the time of this writing, BNB was down by more than 2% in the last 24 hours. According to CoinMarketCap, at press time, BNB was trading at $241.66 with a ma
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Author: Dipayan Mitra
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