Voting is live: Tally | Compound | Compound Sandbox: Development Proposal
As long-time partners and supporters of the Compound DAO we are happy to see Compound developing a more flexible and responsive approach to creating new comets and deployments, and are excited to see the Chainlink standard supporting novel use cases.
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The only sticking point I have is the price tag.
$600k for 24 weeks of work is what, $25k a week? That is high, way too high
I wonder if people read the proposal, $300k available up front to WOOF seems pretty crazy. No one commented on it?
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Proposal 376 Review
OpenZeppelin reviewed Proposal #376, which funds WOOF! to build a permissionless money market platform.
We confirmed that the proposal execution will immediately transfer $300K of USDC controlled by the Compound Vendor Payment Aera Vault from the mainnet cUSDCv3 market to a multisig designated by WOOF! and create a stream on the LlamaPayRouterOracle for the same multisig which will accrue $300K of USDC over 180 days.
Although the proposal does not include a deposit of COMP to the vault as prescribed in the details of the Aera Vault proposal, vault assets are sufficient to fund existing and proposed streams without a deposit at the time of this review.
The proposal’s execution steps only fund the proposed development and do not enforce development timelines, deliverable quality, or security requirements. The immediate $300K transfer occurs before development begins and cannot be recovered if development does not proceed as outlined. Any potential recourse would be limited to only a portion of the streamed amount.
The proposal’s forum post outlines extensive functionality for a permissionless market platform which we have not thoroughly reviewed. While our review focused on the proposal’s execution steps and description, a comprehensive security review of the implementation will be crucial once available.
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Honestly I know good crypto devs make bank so I ignore the numbers and leave it to others who know better to comment.
Thanks for the proposal, @Pasha and WOOF! team.
It is great to see such active discussions and diverse perspectives shared on this proposal. We believe that the Compound Sandbox is a meaningful initiative in terms of promoting governance efficiency.
Traditionally, introducing a new market has required proposers to undergo extensive discussions, followed by a vote and subsequent execution. However, with the introduction of the Sandbox, any aspiring creator with capability and initial liquidity can create and test markets for their safety and effectiveness. This decentralizes the experimentation process for new markets and reduces the overall burden on the protocol.
Additionally, the Sandbox implements a process where only successful markets are promoted onto the Compound’s main UI. This approach has the potential to simplify the traditional steps of “proposal → discussion → voting → execution,” thereby significantly accelerating the protocol’s overall development speed.
As seen in the recent “Alternate Governance Track for Market Updates” vote, governance efficiency has become a crucial theme in current governance operations. The introduction of the Sandbox feature aligns with this trend and is expected to further enhance the competitiveness of the Compound ecosystem.
That said, the proposed $600,000 cost lacks sufficient information to determine its reasonableness. Providing a detailed breakdown of this budget would improve transparency and allow for better evaluation.
We think one of the most crtical components in this proposal is PID controller as users would care how “experimental” markets can be trusted without mamangement from its curator. We would like to know what its implementation is going to look like.
Also, we would like to see how the Sandbox feature is available to end-users as we are curious about how they easily find out the feature and use them in addition to the main markets; if you have any design materials that shows its UI/UX, it would be great to share them with the community members.
We look forward to the success of this proposal and the continued growth of the Compound ecosystem. Thank you!
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Compound Sandbox: Development Proposal is now pending execution.
We want to extend our heartfelt thanks to the community for your invaluable support and feedback, and to the delegates who entrusted us with bringing this groundbreaking project to life. Sandbox will unlock new frontiers for Compound, and we’re thrilled to embark on this journey together.
We’re excited to begin the preparation process. In the coming week, we’ll launch a dedicated thread for Sandbox development updates and discussions, where we’ll share the next steps and address any pending questions.
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