Governance Weekly Recap

Week of October 17, 2022

Summary

A couple of important proposals were put forward this week, and there’s a discussion happening now about creating another governance structure: Compound Improvement Proposals. See the highlighted note below.

Proposals

Pause Supply for Compound Assets (131). This proposal, presented “out of an abundance of caution,” hopes to mitigate any Mango-Markets style attacks on Compound v2 by pausing the supply for ZRX, BAT, MKR, and YFI assets. The proposal looks set to pass with nearly 100% voting “for.”

Adjust cCOMP and cUNI Parameters (130). The v2 cComp market has recently seen very high utilization — reaching the COMP borrow cap. Changing the borrow cap from 90,750 to 150,000 COMP and switching the rate model to the one used by cUNI, as this proposal suggests, should help the market attain “a more suitable equilibrium.” The proposal passed with nearly 100% voting “for” and is now queued for execution.

In the Forums

:sparkles:Compound Improvement Proposals. @cylon from Open Zeppelin puts forward “a foundational CIP-1 to define the process for CIPs and the role they can play in the Compound ecosystem going forward.”

:speaking_head: Join the community call to discuss this: October 26, 9:30AM PST / 12:30PM EST / 4:30PM GMT

TUSD doesn’t have a fallback oracle specified? Is that ok? asks @devenmatthews.

Another patch: @jared describes how another opportunity for improvement to the protocol was discovered while implementing a patch to fix liquidation event handling.

Delegate platform updates have been posted by FranklinDAO (@pennblockchain).

On Twitter

Bitcoin and Ether are both worth less than they were ~5 years ago. “Keep thinking about it” says @rleshner.

Developer Community Calls

  • Calls are held every two weeks. Here’s a recording of the last one from October 19.

:speaking_head: Join the next call on November 2 (4:30PM GMT), in Discord.

Quick Gov Links: Governance Overview | Governance Docs | Compound on Boardroom

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