Hello,
Thank you all for the feedback. The Golden Boys team have acknowledged the various criticisms, most importantly not having prior discussion before onchain vote. Thus proposal 247 has now been cancelled.
Unsafe admin authority for granted COMP (sent to multisig with unknown security/accountability characteristics)
GOLD Multisig is a 3 of 5, consisting of following members:
Gosuto - ( Warpcast ) , Ogle - ( @cryptogle ) , Alonso - Gold Growth Lead @baselordeth
Andrea - ex Balancer lead & DeFi adviser , Humpy - Early DeFi adopter Whale
Investment strategy itself is somewhat abusive to Balancer’s liquidity incentives program
The goldComp pool does not receive any incentives from Balancer, as rewards are paid in GOLD tokens
99/1 Balancer pools have some non-negligible potential for divergence loss, which proposal does not address
We will address this by clearly stating that any Divergence loss, though very minimal in a 99-1 ratio pool, will be fully covered by Gold’s treasury.
goldCOMP token has unclear security characteristics
goldCOMP is open sourced: GitHub - HumpysGold/goldCOMP,
An Audit was performed here
Further review of audited codebase is welcomed.