Scroll Dissolves Security Council After Ether.fi Migrates to Optimism

Scroll announced plans to dissolve its decentralized Security Council and reduce DAO staff to cut costs.

“Scroll moves to cut costs after top protocol migrates to Optimism The downsizing follows a financial hit after Scroll's top protocol migrated to Optimism, draining nearly $160 million in TVL and $13 million in annualized fees”

@coindesk

The migration drained nearly $160 million in total value locked and $13 million in annualized fees from Scroll.

@coindesk

Police detained factory owner Faisal Rahman late Sunday.

Death toll estimates diverged sharply: the Bangladeshi government and Reuters placed the figure at 28, the Dhaka Tribune and Guardian at 33, while Al Jazeera counted at least 41.

The blaze began on the second floor around 4 p.m. local time Saturday.

Scroll artificially inflated its network gas fees by a factor of 1,280 for a few days.

This extracted over $50,000 in excess costs from users.

CoinDesk

The extreme, temporary repricing was rolled back on April 9.

Ether.fi’s migration moved around $13 million in annualized fees away from Scroll.

Scroll is laying off several contributors within the DAO.

Scroll plans to transfer protocol admin control to a newly created Scroll Admin multisig.

“Scroll moves to cut costs after top protocol migrates to Optimism The downsizing follows a financial hit after Scroll's top protocol migrated to Optimism, draining nearly $160 million in TVL and $13 million in annualized fees”

CoinDesk

Four DAO contributor roles will be eliminated by April 30.

The Operations and Accountability committees will shift to reduced capacity.

Scroll's TVL declined 96% from its October 2024 peak.

The DAO continues to operate and evolve.