Prelude
The target audience for this post is other retail investors like myself, who are trying to understand what on earth happened with BOOM this last month. I’m not going to pretend to you that I understand EVERYTHING, but in doing a bit of research I learned some things about SNS governance, and I hope I can share a bit of knowledge I picked up along the way.
I will try to keep this as simple as possible, my goal is to paint a picture of what happened so that the history books have the record straight. And to put any doubts to rest.
Before I begin the tale, it is important to understand that @borovan and the BOOM Dao dev team are not mere mortals like you and I. They are not manually clicking buttons in the UI of DEXes. They are making use of custom scripts, applications, defi vectors and other tooling to fight their battles. This is a constant full fledged financial cyber war that is occurring. The combatants are wizards of their craft.
4-10-25
The peoples champ, borovan, manages to accumulate enough staked BOOM tokens to block a DEV team treasury proposal. Keep in mind, this is the same DEV team who 1 month after their initial SNS release withdrew millions of dollars of funds.
This kicks off a race. For weeks both borovan and the Dev team are attempting to gain the upper hand. Both sides are accumulating tokens, convincing people to follow them, staking tokens, changing dissolve delays on their tokens, and submitting hundreds of SNS proposals. Most of these SNS proposals submitted by both sides, are just noise, to distract and obfuscate. But some of these proposals contain updates that change the rules of the game. For weeks, both sides are constantly firing these things off trying to land a critical blow to give them the upper hand.
4-26-25
For a while, it appears borovan is winning. Using the above described tactics he manages to pry his initial investment from these scum. He nearly manages to mint (and burn) BOOM tokens, which would have skyrocketed the price for all retail holders and made him an absolute legend. But the DEV team recovers their position in time to stop him, it barely fails.
Notice, none of the voting power, was transferred from borovans side to the dev team. There was no deal made here, this was pure financial warfare.
5-02-25
Whether through exhaustion, or pure attrition, it becomes clear that the Dev team is regaining control. They manage to gain enough voting power to stop borovan from making any more changes. Because the SNS parameters are constantly changing, it is impossible as a lay person to figure out exactly what is going on. There are wild swings in the voting power of both sides from proposal to proposal, but it is clear the dev team is coming out ahead. Our champion is running out of steam.
5-5-25
Hidden in a barrage of 50+ other decoys, the DEV team manages to slip in this haymaker. Proposal #617
This creates a timing window, starting at 2:54:29 AM UTC during which only neurons with a dissolve delay of 54+ years would be eligible to vote (as opposed to 5 years). It’s hard to notice because they just added a 0. Meaning in order to stop them, borovan must have his own neurons changed to 54+ years. But he didn’t notice.
Sure enough with 2 tiny 83 year neurons, under cover of darkness, the DEV team strikes:
Minting tokens (not to burn, but to make it impossible for borovan to win). And again pilfering the treasury. Our hero was defeated.
Aftermath
I made a post the other day, because I was deceived. But I said something in that post that was true. Borovan cannot win this battle alone. He lit hundreds of thousands of dollars on fire here, to force his adversaries to do the same, in a fight for the people.
We must not let his efforts be in vain.
The community must tolerate these scum no longer. The proletariat must rise and drive these crooks from the ecosystem. If you wish to defend these people, please make it known in this thread so that we can drive you out too.
And that’s all I have to say about that.
(I give full permission to anyone, to republish this anywhere on all socials. I’m not really a social media guy. You need not attribute this to me, just get the message out. Thanks @ysyms @jordn01 )
