Bounty Ideas For Returning Incorrectly Claimed COMP

Ideas
1

While we operate in a permissionless system, individual should also act ethically - ideally through their own volition but potentially also with appropriate incentives.

I’d like to open a discussion about ways to encourage users to return excess COMP tokens they claimed due to the bug in proposal 62. One way to do this is through incentives/bounties.

In the interest of expediency, I’ll post some forum polls here to see if the community would support various incentive structures for those who return their incorrectly claimed COMP (or proceeds of selling the incorrectly claimed COMP).

Should Compound pay a bounty for users who return their excess claimed funds? (And if so, how much?)

  • More than 10% of claimed funds
  • 10% of claimed funds
  • 5% of claimed funds
  • 1% of claimed funds
  • Do not pay incentive for returning funds

0 voters

Should potential bounties on returning funds be capped at a fixed amount?

  • No cap on incentive payment
  • 1000 COMP limit
  • 100 COMP limit
  • 10 COMP limit
  • 0 COMP limit (do not pay incentive)

0 voters

What other incentives should Compound consider for users who return the excess claimed funds?

  • Specially made NFT
  • Other financial incentive
  • Other incentive (comment below)
  • No incentive for returning funds

0 voters

Polls above only permit voting if you have reached “trust level 1” or higher, generally means you’ve been using the forum for at least an hour or so. It will also show which forum account voted for which option(s) - this is a sybil resistance mechanism. These polls are strictly non binding, any incentives supported here would need to be run through the regular governance process.

3 Likes
2

I think the community has taken the position of not using COMP as cash, so bounty can be offered in the stablecoin denomination (from reserve). But we dont need offer anything to anybody, we need to buy a token (with reserves) from the market when this has already been reflected in the price.
If some “lucky ones” want to return the funds then they deserve a bounty, , but to what extent can we expect that?
It is difficult to assess the perspectives and situations of persons who have received an “extra claim”. Since the unfortunate distribution is not over we don’t have the final numbers?

3

If these individuals are Americans (or, a tax-paying-citizen from another country) I would incentivize by helping them with the tax-consequence of Claiming the COMP via a tax-attorney, or advisor (not sure–but food for thought), if any was incurred.

Otherwise, I might be wrong but it looks like $13M of the claimed COMP has landed at Binance: Ethereum Transaction Hash (Txhash) Details | Etherscan

1 Like
4

COMP has landed at Binance because somebody want cashout that COMP or ?
I didn’t know that COMP could be claimed from a Binance exchange account.

5

Thanks for kicking this off @monet-supply. I think the 10% bounty makes sense. Couple this with some additional social incentives (as Alchemix did).

Main thing is, how do we ratify as the official position? I’m thinking maybe should be put to vote… either snapshot or official on-chain.

1 Like