I am a member of the BNB Chain Core Dev Team submitting a proposal to reduce the impact of the last security incident of BNB Chain bridge and the associated 900k BNB position opened on Venus. More details regarding this incident can be found here: link
As market is very volatile, there is a potential risk that when liquidated, this large portion of BNB may cause more cascading effect and unnecessary damage to the market and cause more risk to Venus project, Venus users, BNB token and BNB Chain.
The aim of this proposal is to introduce whitelisting capability for performing liquidations, specifically targeting the liquidation of the BNB bridge exploiter’s position on Venus.
BNB Chain core team proposes to be the sole liquidator of this position in order to safely control the outsized volume of BNB to offload.
Once the proposal is accepted, we will work with Binance and other BNB Chain Ecosystem players to take over the position in case it hits the liquidation line, by repaying the debt in a joint effort. The stability and fund coverage of Venus will be put at the high priority.