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It immediately vote-locked and self-delegated the SQUILL, then submitted a proposal two blocks later that would:
• Reduce OPEN’s governance execution delay from two days to zero • Grant the proposer DEFAULT_ADMIN—the Folio’s highest authority
Sep 8, 2026 · 4:42 PM UTC
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The title disguises these changes as routine “reconstitution.” The proposal description is blank.
No constituent assets have moved. This can still be stopped.
ACTION SUGGESTED
Vote-lock SQUILL and self-delegate before the September 10, 4:08 a.m. PDT voting snapshot.
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🚨 OPEN GOVERNANCE TAKEOVER ATTEMPT
ACTION SUGGESTED cont'd
Vote AGAINST between September 10 and September 13.
Simply holding SQUILL is not enough. It must be vote-locked and delegated before the snapshot to count.
Proposal: app.reserve.org/ethereum/ind…
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