Compound crisis averted? Securing exposed COMP could be just the start
Compound protocol has placed $150 million worth of COMP tokens at risk, but a bug fix is likely to remedy the situation after giving the community a scare. As the decentralized finance (DeFi) market continues to pique the interest of investors across the globe, a few incidents have shone a major spotlight on the vulnerabilities various platforms operating within this space are continually exposed to. For example, it has recently been unveiled that due to a buggy system upgrade, prominent DeFi money market Compound had put approximately $150 million worth of the native COMP tokens at risk....
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Proposal 064 seeks to repair the token distribution bug introduced during Proposal 062 once and for all. Compound Finance announced the passing of Proposal 064 on Thursday, titled the "Fix COMP Accrual Bug." The proposal states that this update will attempt to “patch the bug introduced in Proposal 62 and pessimistically allow COMP reward withdrawals until the bad COMP accruals can be fixed.”The proposal, which was written primarily by the same community members who proposed the original upgrade, received unanimous COMP votes of 1,037,107 for and 0 against from 27 key addresses including....
The price of COMP remains above the daily 50 EMA as it approaches $80. Price remains bullish, holding above key support areas COMP price ranges in an asymmetric triangle with high buy orders. The Compound (COMP) token price has recently been volatile as price ranges in an asymmetric triangle prepare for a breakout to a region of $80 against tether (USDT). Despite the fact that the crypto market is in a state of flux, the Compound (COMP) price has shown tremendous strength as it attempts to break out of its trading range. (Data from Binance) Related Reading: PoW Tokens Take A Hit: Ravencoin....
Compound Finance’s native token COMP was among the biggest gainers in the decentralized finance space on Wednesday. The fourth-largest DeFi token by market cap surged by more than 10 percent, hitting an intraday high of $154.08 as traders assessed a flurry of upside fundamentals around it. A pseudonymous analyst noted that the Compound protocol lured […]
COMP, a governance token associated with lending platform Compound, is back into rough waters after sailing calmy for days. The 37th-largest cryptocurrency by market cap fell by $25.14, or 20.15 percent, to $100.68. Its move downside started at a local top of $126.10, established after an eight-day upward consolidation of around 45 percent. That was […]
Compound governance refused to compensate COMP farmers right now, but the proposal may come back. On Dec. 14, the majority of the Compound Finance governance community voted against a proposed compensation plan for users affected by the Dai (DAI) liquidations that occurred on Nov. 26.Figures from the Compound governance dashboard show 681,290 votes against with only 212,952 votes in favor. Also, COMP whales like Polychain Capital and Dharma were against the plan judging by their “no” votes cast.As previously reported by Cointelegraph, some leveraged COMP farmers suffered massive....