- Too much of it was going to whales
I don’t think anyone in the previous compensation proposal stated that their reasoning for voting against it was because it was “going to whales”. To summarize the reasons stated, it was because most of the compensation would have gone to users egaged in recursive farming, and dumping of COMP rewards. As they were:
a) Gaming the COMP incentives
b) Not aligned with the long-term interests of the protocol, given the dumping
An example to be precise, the largest liquidated account (0x909b), one of such industrial farmers has a raw total damage of 3.8M, according to your computations. So that’s close to half of the total budgeted compensation.
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