I don’t think its a major change to tokenomics. For community consensus, snapshot is better than off chain for that exact reason, gnosis sig and coinbase custody don’t support it, we want the consensus to be community led.
But the decision to raise the borrow cap individual times has failed to even notify the community of it happening. One multisig isn’t “on chain governance”. The “limit” of 100k has been hit, and the community wants it raised infinitely, so how come we must ask to raise it, but when it is raised without being asked or even told, it is ok? The community multisig has stated that they have too much power, so the time is to remove it. If governance wants to set another borrow cap, that can go on chain, but the point was for the community to have that power in a multisig.