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Will Compound Finance implement changes to its governance structure by the end of 2024?
3
Resolution / Starting Odds
Yes • 50%
No • 50%
Compound Finance governance records and official announcements
Story
Compound Finance Faces Governance Attack Allegations After $25 Million Proposal 289 Passes by Golden Boys
Jul 29, 2024, 05:20 AM
Compound Finance, a decentralized finance (DeFi) protocol, is facing allegations of a governance attack following the passage of Proposal 289. The proposal, which narrowly passed by a vote of 682,191 to 633,636, allocates 499,000 COMP tokens (approximately $25 million), representing 5% of the treasury, to the goldCOMP treasury, a yield protocol designed by a group known as the Golden Boys. The community has raised concerns over the centralization of power, as the proposal was pushed through by a whale named Humpy, also known as Titanium_32, who allegedly controls a significant portion of COMP tokens. This incident has sparked debates about the integrity and mechanics of decentralized autonomous organizations (DAOs) and the vulnerabilities of on-chain governance systems.
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Yes • 50%
No • 50%
Token Locking Period • 25%
Minimum Voting Quorum • 25%
Delegated Voting • 25%
Other • 25%
New governance rules implemented • 25%
Existing governance rules upheld • 25%
Compromise solution reached • 25%
No significant changes • 25%
Veto Committee • 25%
Dual/Multi-token Voting System • 25%
Check-and-Balance Mechanisms • 25%
Other • 25%
Security Enhancements • 25%
Token Redistribution • 25%
Governance Structure Change • 25%
Other • 25%
Passes • 25%
Fails • 25%
Withdrawn • 25%
No Decision • 25%