Disable IP regional blocks

Proposal Discussion
1

TLDR;

This proposal seeks to disable the blocking of IPs from different regions to expand the reach of the Silo Protocol.

Proposal

Since the launch of the Silo protocol, there has been a regional block imposed through Internet Protocol (IP) address checks. In my opinion, we should change our front end to be open to all, without any regional blocks, as commonly done by almost all other decentralized protocols. This change could greatly accelerate our growth and stays true to the inclusive ethos of decentralized finance.

Vote

For - Remove the ban on users from certain regions.
Against - Keep things as they are.

4 Likes
2

Thank you for the proposal. This is a topic that has been brought us many times. The proposal is too broad in my opinion.

Here are my thoughts:

  • The SiloDAO owns and operates the lending protocol, including the FE. If the SiloDAO votes to make changes to the way we restrict users, changes will be implemented according to the DAO’s bylaws.
  • At the moment, the SiloDAO works with TRM labs to block wallet addresses that have been published on the OFAC list - a list of individuals and companies owned or controlled by, or acting for or on behalf of, targeted countries. This is extremely important for our DAO to maintain for compliance reasons.
  • Currently, we block users of the following countries: the United States of America, Crimea, Iran, North Korea, Cuba, Syria, or Eritrea. Except for the USA, all countries/regions blocked today are targeted by OFAC and should be restricted from using our app.

I believe complying with OFAC is paramount. This means at all times we should do our best to restrict users of, or accessing from the following regions:

  • Crimea
  • Iran
  • North Korea
  • Cuba,
  • Syria
  • Eritrea
3 Likes
3

Complying with OFAC is sooo wrong, fuck USA’s retarded laws, crypto is not theirs to control.

I will be voting in favor of this proposal.