current Uniswap governance system make it vulnerable to a lot of risks and possible attacks. This why I am proposing a new governance system similar to CRV governance in which your weight in governance depend on 2 factors: 1- how many UNI tokens you have 2- the length of the vesting period of your tokens… This means that UNI governance will be controlled by long term UNI holders and will protect governance from flash loans attacks and malicious borrowers.
with flash loans attacks, the attacker can borrow almost unlimited amount of UNI and make a bad proposal and pay back the loan in one block… this kind of attacks could be very difficult to stop or reverse
also another possible attack is a whale or multiple whales borrow tens of millions of UNI from platforms like Compound, Aave and Cream and make a malicious proposal (like looting the treasury), this will probably cause UNI price to tank so this will let the attackers make money from looting the treasury + shorting UNI
Current governance design offer big incentives for attackers especially with the growing treasury (170m UNI in the 1st year)
so a new governance design that make the voting power depends on 2 factors 1- number of tokens, 2- vesting period… will make these attacks impossible and will give the governance to long term holders who have the most interest is Uniswap success