Compound Governance Attack Controversy

ChainCatcher news, the growth officer of the decentralized lending protocol Compound, Bryan Colligan, proposed a new staking scheme stCOMP after communicating with the whale Humpy. This scheme will proportionally distribute 30% of the market reserves generated by the protocol now and in the future to holders of staked COMP. The stCOMP product will be controlled by the Compound DAO and developed within the protocol team.If proposal No. 289 (the goldCOMP governance proposal proposed by Humpy, which transfers $25 million worth of COMP tokens into its treasury) is not canceled before 11:59 AM Beijing time today, the team will proceed with the preventive treasury transfer process.

ChainCatcher news, according to The Block, a proposal passed by Compound Finance has sparked accusations of governance attacks within the community, claiming that a small group was able to force the implementation of the proposal by acquiring a large amount of tokens on the open market.Last Sunday, Proposal 289 was narrowly approved with 682,191 votes to 633,636 votes, allocating 5% of the Compound treasury funds (499,000 COMP tokens, worth approximately $24 million) to a year-long interest-bearing protocol designed by the "Golden Boys." Voting on the proposal began at 11:40 PM local time on Thursday and continued through the weekend.However, community members allege that there are hidden circumstances behind these vote totals. Michael Lewellen, a security architect at OpenZeppelin and a security advisor for Compound Finance, stated in a post on X that some accounts accumulating COMP tokens on the open market are linked to several proposals aimed at transferring COMP assets to the goldCOMP product created by the "Golden Boys."In response to Lewellen's security alert, several community members, including Wintermute Governance, Columbia Blockchain, Penn Blockchain, and StableLab, expressed similar concerns.