RE: Bancor - Hidden Code Sparks Outrage
Just to share @cryptowallet ... EOS is also headed in that direction. It is basically insurance against DAO situations. That's my take on it. It would have been better had the DAO put a clause in there for their board to freeze the contract, or forcefully change things, ect. should there be a bug in the code. This idea of unmodified code / tokens is very libertarian, but it is also impractical many times, and doesn't align with how most of the world thinks outside of crypto world.
Also, I would want to double check it is a function to create and destroy bancor tokens, not a function to create and destroy tokens on their platform. Their platform was designed for people to create an destroy system tokens that launch on BANCOR... for things like ETF's which require that tokens be created and destroyed by users.
Also, the hidden cap was part of the original ICO documentation. It was shared that the cap was hidden before ICO launch. So it was transparent.