★ Flash-loanable voting weight
Ethena's assessment for RD-F-036 — scored yellow on the v1.7.0 rubric. The evidence below is the curator's reasoning for this score.
Evidence summary #
Governance is Snapshot-only (non-binding off-chain). Snapshot takes a block-reference snapshot preventing same-tx flash-loan attacks. However, actual execution authority rests with Dev Multisig (5-of-11), not ENA token votes. Flash-loan attack on ENA voting is structurally irrelevant to execution; risk is multisig capture. No on-chain governor checkpoint mechanism exists because there is no on-chain governor.
Sources #
- DocsGovernance | Ethena — 'fully on-chain governance is not a practical or viable option at present'https://docs.ethena.fi/solution-overview/governanceretrieved 2026-04-28
Methodology #
Determine whether governance voting power is a function of current token balance of a transferable token with no lock or checkpoint, making it flash-loan susceptible.
See the full factor methodology and distribution across all protocols →