Compound Proposal 63: Temporary Patch for COMP Distribution Bug (9/29/21)

Some one needs to speak :speaking_head: up because I know that defi and or centralized platforms work to leave earnings in wallets of users and that is rule your jeopardizing my hard inventory and my earnings I legally and fairly supplied.speak

I feel that if your gonna rewrite the code you should tell me what to expect once your done rewriting the code because logically speaking I have not even hit the claim button on my comp that you disabled so I demand to know my balance before I agree to your restoration and me having to wait for you all to rewrite the code.thank you tell me my comp balance I’m gonna see it anyway 3 days and counting.

Hey @Theo, we apologize for having you and others in the dark about everyone’s COMP rewards. Please bear with us as we’re all hard at work fixing this and doing damage control.

Everyone is still earning COMP at the regular rate. We temporarily disabled the ability to view accrued COMP and also to claim it from the UI while we conduct our investigation. The ability for users to view their accrued COMP will be restored before proposal 64 goes to vote.

Proposal 64 does two things:

  • Fixes the accrual bug
  • Temporarily disables claiming COMP for the users potentially affected by the bug

After proposal 64 executes, there’ll be a follow-up proposal to fix the accrued COMP amounts for the users affected by this bug (set to the amount they fairly and rightfully earned). At this point, we’ll restore the ability for everyone to claim their COMP.

With that being said, everyone will continue accruing COMP at their normal and expected rates. This is true in the moments leading up to proposal 64 as well as after. The COMP fairly earned will without a doubt be given to users.

Users who have not interacted with the affected markets (those without COMP rewards) since proposal 62 was executed will be able to claim their COMP just fine. For those who have, I estimate it’ll take about a week for their ability to claim COMP to be restored.

Once again, I want to make it clear that COMP rewards are still accruing at normal and expected rates and that everyone will be able to claim their rightfully earned COMP - the majority right away and the rest shortly after.

We thank everyone for their patience and their trust in Compound protocol!

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If I understand correctly, can you pick up rewards from users who have not yet taken them? Is it okay at all? Doesn’t sound like decentralization

i am a casual user and this is confusing, can someone answer the below questions please.

  1. I have almost a year worth of COMP token sitting there unclaimed, now i cannot see the balance nor claim it from GUI.
  2. Today: is there a way to see how many COMP token i have unclaimed + claim those tokens via API or other methods
  3. After this proposal: I will be able to see and claim the COMP tokens again from GUI. But sounds like you guys going to do something to it to reduce the balance already received for some random people due to the bug. Is that it? But why disable the VIEWING of everyone’s COMP balance, the whole point of defi is it’s open. Makes no sense.

Thanks

Wouldn’t it make much more sense to just set comp accrual speed for all markets to non-zero to avoid the bug?

you can see your comp balance through the API https://api.compound.finance/api/v2/governance/comp/account?address=

Just add you address at the end of that.

in the response, comp_allocated is what you are looking for.

Hey everyone, I have to go now so I can’t answer the questions above, but I’m here to post the link to the upgrade scenario to ensure that proposal 64 does what it’s expected to do.

https://github.com/TylerEther/compound-protocol/blob/dynamic-comp-rewards-distribution-2/spec/sim/0064-fix-comp-accruals/hypothetical_mainnet_upgrade.scen

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Think there’s some issue when doing the math here on the bugged txs

You can use as an option: DeFi Saver

Track Address

@hayesgm just posted an analysis of prop 64 from Compound Labs

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@dvf Any more info on the severity of the issue if 63 and 64 BOTH pass would be VERY helpful right now. This means that claimComp() would revert for a little more than 2 days before the functionality was restored. Obviously no one wants to go this route if it’s possible to avoid it, but if token holders can better understand the severity on your side, they can make the decision that best balances the risks to the Compound community with the impact on your protocol

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In our case, Idle Finance, deposits for all idleTokens with Compound integrated would revert for basically 2 days, while redeems will be possible but only by giving up COMP tokens. The issue on Idle will also spread to other integrators that use our protocol under the hood, with unknown impact, like Yearn, Harvest Finance, Enzyme Finance, Gro and some others too (and most of them usually don’t have the ability to skip the redeem of specific gov tokens)

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OUSD itself will be fine, we can disabled rewards collection and our users will be unaffected.

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When billions are blocked on the platform and it can be trillions, code is the main problem now. The end justifies the means.

Appreciate this clarification.

Speaking individually, I supported Prop 63 so that the community would have an additional tool at its disposal – the ability to suspend COMP claims earlier than 64, should the need arise and only if the benefit to the protocol is greater than the risk to integrations / partners like Idle.

There are 2 days to get comfortable with Prop 64, pass it, and cancel Prop 63.

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OUSD has completed its governance action and will be unaffected by the possible upcoming reverts from prop 63.

What is the process for cancelling proposals when a substitute proposal comes into action within the 2-day window (ex. Proposal 64 resulting in the cancellation of Proposal 63 earlier today)? Do members of the community need to remove votes or is that a decision made by the multisig?

Generally, to cancel a proposal, either the proposer has to cancel it, or the proposer needs to fall below the proposal threshold. However, in this case, the proposer (me) was a whitelisted proposer. For whitelisted proposers, either the proposer can cancel, or the multisig can cancel.

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Heads up that Proposal 63 - revert when collecting COMP - was canceled by the community multisig several hours ago, and so the reverts will not be happening.

Proposal 64 (no revert) has now passed, and is waiting in timelock.

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