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Outcome of the $25 million proposal by Humpy in Compound Finance by end of 2024?
3
Resolution / Starting Odds
Reversed • 25%
Partially Reversed • 25%
Upheld • 25%
Other • 25%
Compound Finance's official announcements and proposal records
Story
Compound Finance Faces Governance Attack by Humpy Over $25 Million Proposal
Jul 28, 2024, 10:58 PM
A recent event in the decentralized finance (DeFi) sector has raised concerns over governance vulnerabilities. A proposal to allocate $25 million from Compound Finance's DAO treasury was passed, leading to accusations of a governance attack. The proposal, pushed through by a whale known as Humpy, involved the accumulation of 682,000 COMP tokens to secure the vote. Humpy successfully granted himself 490,000 COMP tokens. This incident, which marks the third proposal from the governance attacker, has sparked debate within the community, with some arguing that it was a legitimate use of governance mechanisms, while others see it as a security flaw. The event highlights the risks associated with valueless governance tokens and the need for better safeguards in DeFi protocols. Notably, the delegate tokens for the proposal came from ByBit.
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Passes • 25%
Fails • 25%
Withdrawn • 25%
No Decision • 25%
Involvement in a new DeFi project • 25%
Further actions within Compound Finance • 25%
Involvement in governance of another existing DeFi project • 25%
No significant actions • 25%
Yes • 50%
No • 50%
Yes • 50%
No • 50%
Proposal 289 revoked • 25%
New governance measures implemented • 25%
No significant changes • 25%
Other outcomes • 25%
New governance rules implemented • 25%
Existing governance rules upheld • 25%
Compromise solution reached • 25%
No significant changes • 25%
Security Enhancements • 25%
Token Redistribution • 25%
Governance Structure Change • 25%
Other • 25%