Ampleforth Governance Proposal Sought 98% of Treasury USDC Balance

A wallet submitted a governance proposal that could have requested 98% of the USDC held in the Ampleforth treasury, highlighting a gap in the protocol’s governance process, according to CryptoSlate. The wallet submitted the proposal after receiving 87,238 FORTH in delegated voting power. However, the action concluded with zero votes and no transfer of funds. The proposal therefore did not result in any movement of the treasury’s USDC balance. The episode centers on the relationship between delegated governance power and the ability to submit requests involving protocol-controlled assets. Ampleforth’s governance token is FORTH, while USDC was the asset identified in the treasury request.