TREE NEWS update: A newly activated EOA address submitted a governance proposal on Ampleforth on Sept. 12 requesting 2.5 million USDC — nearly all of the treasury’s liquid funds — be transferred to the proposer under the guise of funding completed work on a SPOT ecosystem analytics tool. The proposal remains Pending with no votes cast and no funds moved. The proposal threshold is 75,000 FORTH and the passing threshold 600,000 FORTH, roughly $160,000 at $0.27 per token.
Ampleforth hit by governance proposal attack seeking $2.5M USDC from treasury
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AI take
The mechanics matter more than the attempt: with a 75,000 FORTH proposal threshold and a 600,000 FORTH passing bar, the token's low price makes governance capture cheap enough to try, and the ask was sized to the liquid treasury rather than to the work claimed. That combination — low nominal barriers plus a treasury whose liquid portion is small — is the structural exposure here, not the individual proposer. Whether the pending proposal draws votes or lapses is the open question, and it is a useful read on how much attention token holders actually pay.
Generated by AI for reference only.
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