I’ve been closely following this proposal over the past week, and as a long-term COMP holder, I feel compelled to speak up.
Gauntlet is presenting Compound’s protocol as inefficient, highlighting some missing optimizations. But does that justify abandoning Compound in favor of Morpho? That notion is absurd. If Compound itself refuses to use its own product, it raises serious concerns. Why would anyone continue to believe in the project?
This proposal offers no clear benefits to COMP holders. In fact, it’s baffling how they’re being misled into believing otherwise. The entire situation feels deliberately opaque, riddled with conflicts of interest. Gauntlet profits from Morpho, holds Morpho tokens, and simultaneously possesses COMP tokens while acting as a risk consultant for Compound. That’s a major ethical issue.
I doubt I’m the only one seeing the problem here. The proposal appears less about improving Compound and more about weakening it, while Morpho and Gauntlet stands as the beneficiary.