Weekly Governance Update

Governance Process
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Hi all,

We’re excited to kick off our weekly coverage of Compound governance. Like with our previous updates, our goal is to condense everything tokenholders and delegates need to know about Compound governance - recent and upcoming proposals, hot topics on Discourse and Discord, events, and more - into an easy-to-read weekly summary.

We’ll be publishing these summaries here in this thread as well as on our new Paragraph feed. If you’d like to receive the Compound Weekly Update directly in your email’s inbox, subscribe here and check the box for “Compound Weekly Update”: https://paragraph.xyz/@boardroom

Feedback? Suggestions? Want to talk about DAO governance? You can reach us on Discord (https://discord.gg/BGnjk4r5tT), Twitter (https://twitter.com/boardroom_info), or here in the forum at any time!

The Boardroom Team

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Week of May 29, 2023

Prefer to receive this recap as an email? Subscribe here and check the box for “Compound Weekly Update”: https://paragraph.xyz/@boardroom

:hourglass: Key Points

The Compound community has passed three proposals during the past two weeks - Proposals 160, 161, and 162. Voting on Compound Proposal 163 is now live.

In the forum, Gauntlet gave an important update on Compound v3 migration and deliberations continued regarding adding two different Polygon staking tokens - MaticX from Stader and stMatic from Lido - as collateral assets.

:ballot_box: Recent Proposals

  • Gauntlet <> Compound Incentive Optimization (Compound 163)

    • Summary: A proposal to formalize and expand Gauntlet’s existing work with Compound on continuous incentive optimization for Compound’s rewards.As part of the engagement scope, Gauntlet will provide Compound with a quantitative framework to evaluate the success or failure of incentive optimization. Gauntlet will leverage its Incentive Optimization Platform to provide recommendations adjusting incentives across Compound V2 and Comet markets to drive sustainable, efficient growth.The service fee structure is a $300K fixed fee, paid in $COMP tokens, as well as a variable performance fee. This proposal only implements the $300K fixed fee portion. Full proposal and forum discussion
    • Proposer: gauntletgov.eth
    • Status: Voting Now

  • Interest Rate Curve Updates for Ethereum Compound v3 USDC (Compound Proposal 162)

    • Summary: A proposal from Gauntlet to adjust seven Interest Rate Curve parameters. Specifically, this proposal puts forward two solutions - (1) flatline the “Borrow APR” past the borrow kink and (2) adjust the borrow/supply kinks and slopes to incentivize efficient and appealing equilibrium APRs - to solve two identified problems the protocol is facing: (1) stagnant protocol growth/migration amid poor borrower UX and (2) the current negative net protocol profit, i.e. (USDC reserve growth - COMP distributions). The forum post outlining the full details of Compound Proposal 162 can be found here and an explanation of the motivation of the proposal is outlined below in “Forum Highlights.”
    • Proposer: 0x7B3c54e17d618CC94daDFe7671c1e2F50C4Ecc33 (Gauntlet)
    • Status: Passed

  • Risk Parameter Updates for Polygon Compound v3 USDC (5 9 23) (Compound Proposal 161)

    • Summary: A proposal from Gauntlet to adjust the supply cap parameters for three Polygon Compound v3 USDC assets - $WBTC, $WETH, and $MATIC - and increase the $COMP rewards distribution. Compound 161 was meant to “incentivize larger USDC borrowers to join the protocol in its early stages” and to “ensure new USDC borrowers’ collateral supplies won’t be restricted,” after lackluster adoption was observed “despite the appealing positive Net Borrow APR.” According to Gauntlet, with these changes, a quadrupling of the USDC supplied and tripling of the USDC borrowed on Polygon is feasible.
    • Proposer: gauntletgov.eth
    • Status: Passed

  • Initialize cUSDCv3 on Arbitrum (Compound Proposal 160)

:writing_hand: Forum Highlights

  • Gauntlet provided an update on comp.xyz regarding their ongoing work shepherding the Compound v3 migration. They report continued “stagnant growth and migration” to v3 and “hypothesize that the reason … is a combination of inefficient reward allocation relative to the currently unappealing v3 IR curves.” In order to mitigate the risk of losing v2 users that have not yet migrated to v3, Gauntlet has decided to pause migrating rewards to v3 - as originally planned and outlined in their Migration CIP Timeline - and shifted their focus to towards optimizing incentives. As such, Compound Proposal 162, is the next phase in their altered migration plan. Gauntlet noted that after Compound Proposal 162 is passed and implemented, the community “can assess migrating more rewards from v2 to v3 after observing how users respond to the IR curve changes.”
  • Forum user Oiclid has taken over responsibility for the Compound Monthly Report. The March 2023 Report was posted in the comp.xyz forum on May 9th. The report can be viewed here.
  • Stader Labs, a liquid staking provider, posted a proposal on comp.xyz to add MaticX as a collateral asset on Compound. Thus far, reception to the proposal has been positive. MaticX has already been listed on Aave and Balancer, where it has seen success as a collateral type.
  • Discussions continued about the proposal to add another Polygon liquid staking token - stMatic from Lido - as a collateral asset. Respondents in the forum have reacted positively to this proposal as well.

:newspaper: Stakeholder News

  • FranklinDAO (aka Penn Blockchain) announced that they are switching their franklindao.eth delegate profile to a hard wallet: 0xCc878369b26127BD4bC1B0B465bC8bE9b92a4c62. If you are currently delegating to FranklinDAO at 0x070341aA5Ed571f0FB2c4a5641409B1A46b4961b, you have until June 15th to re-delegate your tokens.

Click here to re-delegate your tokens on Boardroom.

:telephone_receiver: Developer Community Call Summary

Compound’s most recent Developer Community Call was on May 3, 2023. Click here to listen to the recording. Here’s what was discussed:

  • Harsha from Compound Grants called attention to the most recent report from the grants program and asked for community feedback on recent proposals.
  • Paul from Gauntlet gave updates on Gauntlet’s work, including its Value at Risk methodology adjustment and its proposal to formalize and expand Gauntlet’s work on incentive management with a one-year contract. (Note: This proposal is now live.)
  • Uma from Succinct gave the community a summary of Succinct’s Telepathy protocol, which leverages zk-proofs to verify Ethereum consensus, and pitched it as a solution for Compound governance messages to deployments on other chains. She highlighted Succinct’s grant proposal to deploy Telepathy to Compound v3 and answered several questions from community members about how it would work.
  • Scott from Compound Labs discussed Compound v3 deployments on other chains, including the launch of Compound on Arbitrum and the plans to launch on Optimism and Base, which are dependent on its Bedrock upgrade. Scott also discussed Compound Proposal 158 and 159.

:date: Upcoming Events

The next Compound Developer Community Call will be on May 31, 2023 at 12pm ET in the Compound Discord.

:crystal_ball: Upcoming Votes

There are no upcoming votes, besides Compound Proposal 163.

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

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Week of June 5, 2023

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:hourglass: Key Points

This week, Compound Proposal 163 passed, with 18 voters casting 917,588 votes For and 0 Against.

In the forum, discussions continue about adding two different Polygon staking tokens - MaticX from Stader and stMatic from Lido - as collateral assets. Proposals related to these discussions are likely to be introduced soon.

Finally, the Compound Developer Community Call took place on Wednesday, May 31st.

:ballot_box: Recent Proposals

  • Gauntlet <> Compound Incentive Optimization (Compound 163)
    • Summary: A proposal to formalize and expand Gauntlet’s existing work with Compound on continuous incentive optimization for Compound’s rewards.As part of the engagement scope, Gauntlet will provide Compound with a quantitative framework to evaluate the success or failure of incentive optimization. Gauntlet will leverage its Incentive Optimization Platform to provide recommendations adjusting incentives across Compound V2 and Comet markets to drive sustainable, efficient growth.The service fee structure is a $300K fixed fee, paid in $COMP tokens, as well as a variable performance fee. This proposal only implements the $300K fixed fee portion, which will be paid via a year long Sablier stream of 7,989 $COMP tokens. Full proposal and forum discussion.
    • Proposer: gauntletgov.eth
    • Status: Passed

:writing_hand: Forum Highlights

  • Gauntlet shared the 30-day $COMP Volume-Weighted Asset Price (VWAP) that will be used to determine the amount of tokens streamed to them as compensation for their incentive optimization service per Compound Proposal 163. The 30-day $COMP VWAP is $37.55, which translates to 7,989 $COMP tokens for the $300k fixed fee Sablier stream.
  • On the thread regarding Stader Labs’ proposal on comp.xyz to add MaticX as a collateral asset on Compound, user @dcota noted that MaticX “is currently maxed out as a collateral in the other money market in where MaticX is currently accepted.”
  • Fuji Finance, which received a grant from the Compound Grants Program to build a cross-chain migration tool, introduced themselves in the forum, outlined the problem they’re solving, and explained how their solution works.

:newspaper: Stakeholder News

  • FranklinDAO (aka Penn Blockchain) announced that they are switching their franklindao.eth delegate profile to a hard wallet: 0xCc878369b26127BD4bC1B0B465bC8bE9b92a4c62. If you are currently delegating to FranklinDAO at 0x070341aA5Ed571f0FB2c4a5641409B1A46b4961b, you have until June 15th to re-delegate your tokens.

Click here to re-delegate your tokens on Boardroom.

:telephone_receiver: Developer Community Call Summary

Compound’s most recent Developer Community Call was May 31, 2023. Click here to listen to the recording. Here’s what was discussed:

  • Adam from Compound Labs shared details about Compound Grants’ $5,000 prize at the ETH Waterloo hackathon, which will take place June 23rd through June 25th.
  • Paul from Gauntlet discussed Compound Proposal 163 (which passed on June 2nd, two days after the call) and Compound’s work on incentive optimization more broadly. He also discussed Gauntlet’s adjustment to the v2 to v3 migration plan, which paused the migration of rewards to v3 in favor of changing the USDC interest rate curve to increase utilization.
  • Tyler from Boardroom (that’s us!) shared details about the content we’re producing related to Compound governance and asked for feedback on our proposal with Compound Grants.
  • The Lido team joined to discuss their proposal on comp.xyz to add stMatic as a collateral asset on Compound’s Polygon deployment. Adam and Kevin from Compound Labs asked follow up questions about use cases for stMatic and suggested that Compound start with a USDC market before adding additional markets.
  • Next, the Stader Labs team called attention to their proposal to add MaticX as a collateral asset. Kevin from Compound Labs asked about Stader’s structure and their plans for decentralization. Stader is in the process of transitioning to a DAO, which will take place over the next one to two quarters.
  • Other topics of conversation related to both Lido and Stader’s presentations included a discussion about the difference between stMatic and MaticX as well as technical requirements for eventually implementing their proposals (e.g. Chainlink price feeds).

:date: Upcoming Events

The next Compound Developer Community Call will be on June 14, 2023 at 12pm ET in the Compound Discord.

:crystal_ball: Upcoming Votes

There are no upcoming votes.

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

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4

Weekly Update - June 12, 2023

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:hourglass: Key Points

  • There are no new proposals this week. Proposals to add MaticX (from Stader Labs) and stMatic (from Lido) are expected in the coming days or weeks, following a risk analysis.
  • In the forums, @oiclid posted Compound Monthly Reports for April and May and Gauntlet provided updates on the aftermath of Compound Proposal 161 and signaled that a proposal may be coming to adjust certain interest rate curves to benefit v2 to v3 migration.

:ballot_box: Proposals

  • No new or recent proposals.

:writing_hand: Forum Highlights

  • @oiclid published the Compound Monthly Financial Report & Analysis for April and May this week.

  • Gauntlet provided an update on the effects of Compound Proposal 161 - passed May 18, 2023 - which they had hoped would lead to growth in Polygon Compound v3 USDC supply by attracting large USDC holders. As a result of the 34.73 daily COMP rewards allocated to USDC suppliers and increased supply caps for collateral assets, Gauntlet reports +222% in USDC supplied and +163% in USDC borrowed in the protocol.

  • Gauntlet also posted in comp.xyz about the state of v2 to v3 migration and signaled that they may introduce a proposal to adjust interest rate curves to increase borrowable USDC if “new USDC suppliers [don’t] join the protocol to take advantage of the increased Earn APR.” As of their update on June 6th, “utilization in the Ethereum Compound v3 USDC comet is … 99%.”

:newspaper: Stakeholder News

  • THREE MORE DAYS to re-delegate your tokens to FranklinDAO’s new hard wallet address for franklindao.eth: 0xCc878369b26127BD4bC1B0B465bC8bE9b92a4c62.

If you are currently delegating to FranklinDAO at 0x070341aA5Ed571f0FB2c4a5641409B1A46b4961b and haven’t yet switched the address:

Click here to re-delegate your tokens on Boardroom.

:telephone_receiver: Developer Community Call Summary

Compound’s most recent Developer Community Call was May 31, 2023. Click here to listen to the recording. Here’s what was discussed:

  • Adam from Compound Labs shared details about Compound Grants’ $5,000 prize at the ETH Waterloo hackathon, which will take place June 23rd through June 25th.
  • Paul from Gauntlet discussed Compound Proposal 163 (which passed on June 2nd, two days after the call) and Compound’s work on incentive optimization more broadly. He also discussed Gauntlet’s adjustment to the v2 to v3 migration plan, which paused the migration of rewards to v3 in favor of changing the USDC interest rate curve to increase utilization.
  • Tyler from Boardroom (that’s us!) shared details about the content we’re producing related to Compound governance and asked for feedback on our proposal with Compound Grants.
  • The Lido team joined to discuss their proposal on comp.xyz to add stMatic as a collateral asset on Compound’s Polygon deployment. Adam and Kevin from Compound Labs asked follow up questions about use cases for stMatic and suggested that Compound start with a USDC market before adding additional markets.
  • Next, the Stader Labs team called attention to their proposal to add MaticX as a collateral asset. Kevin from Compound Labs asked about Stader’s structure and their plans for decentralization. Stader is in the process of transitioning to a DAO, which will take place over the next one to two quarters.
  • Other topics of conversation related to both Lido and Stader’s presentations included a discussion about the difference between stMatic and MaticX as well as technical requirements for eventually implementing their proposals (e.g. Chainlink price feeds).

:date: Upcoming Events

The next Compound Developer Community Call will be on June 14, 2023 at 12pm ET in the Compound Discord.

:crystal_ball: Upcoming Votes

There are no upcoming votes.

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

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5

Weekly Update - June 19, 2023

:hourglass: Key Points

  • Gauntlet shared analysis and parameter recommendations for stMatic and MaticX, clearing the way for proposals to add the two $MATIC liquid staking tokens as collateral assets to Compound v3 on Polygon.

  • Gauntlet circulated two potential proposals as options for Phase 4 of the Compound v3 migration and is asking the community to weigh in by participating in this poll.

  • Fuji Finance updated the community on their progress developing a cross-chain migration tool.

  • The Compound Developer Community Call took place Wednesday, June 14th.

:ballot_box: Proposals

  • No new or recent proposals.

:writing_hand: Forum Highlights

  • Gauntlet shared analysis and parameter recommendations for stMatic and MaticX, two different $MATIC liquid staking tokens that were proposed last month as new collateral assets for Compound v3 on Polygon. Gauntlet’s recommendations include options for both conservative and aggressive parameter settings and deferred to the community on its preference. So far, only Michigan Blockchain has weighed in, doing so in favor of the aggressive parameter settings to “enhance Compound’s competitiveness relative to AAVE.”

  • Gauntlet circulated two potential proposals as options for Phase 4 of the Compound v3 migration they’ve been administering. The first option would decrease v2 rewards and increase the v2 USDC reserve factor, while the second option would do the same but also increase v3 rewards by 200 COMP. There is currently a poll live in the forum to determine which proposal will move forward on Monday, June 26th. Gauntlet’s recommendation is to move forward with the first option, i.e. not increase v3 rewards.

  • Gauntlet posted a summary of their market risk management work with Compound in May 2023.

  • Fuji Finance provided an update on their work building a cross-chain migration tool, funded by Compound Grants. The update prompted a discussion in the forum and on the Developer Community Call about granting the Compound Timelock contract the admin-role for the cross-chain migrator as to enable future changes and add new markets in the future. Ultimately, it was decided that Fuji Finance will maintain authority over the tool.

  • Adam from Compound Labs shared more information on Compound’s prize for the ETHGlobal Waterloo hackathon.

:telephone_receiver: Developer Community Call Summary

Compound’s most recent Developer Community Call was Wednesday, June 14, 2023. Click here to listen to the recording. Here’s what was discussed:

  • Paul from Gauntlet discussed actions taken during the recent period of market volatility (e.g. actions taken to mitigate issues from Sushiswap’s price not updating in Compound v2) and provided an update on the Polygon and Arbitrum Comets. He also highlighted upcoming work from Gauntlet, including recommendations about stMatic and MaticX (see above) as well as deployments to new chains like Base.
  • Michael from OpenZeppelin provided an update on what OZ has been working on, including auditing and security monitoring. OZ collaborated with Gauntlet and others to deal with the Sushiswap situation. Michael noted that while OZ’s system to monitor similar situations worked well, there are certain improvements they will make going forward. They plan to after further share their thoughts with the community in the forum.
  • Roger from Chainlink (the oracle service that provides price data) clarified that the issue was not rooted in Chainlink, but rather the underlying data from Uniswap. This prompted agreement that there are improvements that could be made. Michael from OZ said more data would be gathered and shared with the community.
  • Nick from Rocket Pool gave an overview of Rocket Pool for the Compound community and floated the idea of $rETH - the liquid staking token - as collateral to Compound v3.
  • Aditya from Stader Labs provided an update on next steps for listing MaticX as a collateral on Compound v3 on Polygon, which is blocked by the need for Gauntlet’s parameter recommendations and OpenZeppelin audits.
  • Mark from Fuji Finance discussed their project building a cross-chain migration tool for Compound and asked for guidance on how to handle admin roles for this tool, which prompted a discussion with several community members.
  • Boardroom gave our update on Compound governance activity.
  • Adam from Compound Labs highlighted Compound Grants’ plan to host a demo day for grant projects as well as Compound’s prizes at the ETHGlobal Waterloo hackathon.

:date: Upcoming Events

ETHGlobal Waterloo is taking place this week, June 23rd through June 25th in Waterloo, Ontario. Compound is sponsoring $5,000 in prizes at the Hackathon.

:crystal_ball: Upcoming Votes

Gauntlet plans to introduce a proposal on Monday, June 26th, which will constitute Phase 4 of the Compound v3 migration. See here for more.

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

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Weekly Update - June 26, 2023

:hourglass: Key Points

  • There are currently two live proposals, Compound 169 and 170.

  • Compound Labs proposes deploying v3 on Base.

  • Chaos Labs and Wido provide updates on their Grants projects.

:ballot_box: Proposals

:writing_hand: Forum Highlights

  • The Compound Labs team has begun the proposal process for deploying v3 on Base with a forum post outlining the idea. According to the post, the Labs team sees “two promising use cases for borrowing on Base… The first will be a USDC market with crypto majors as collateral (e.g. WETH, WBTC, etc.). The second will be a WETH market with LSDs as collateral (e.g. cbETH, wstETH, etc.).” The proposal requests the community grant a license exemption to “allow the Base network to obtain a Compound Business Source License (BSL) to use the Licensed Work, update compound-community-licenses.eth, and deploy it on the Base network.”

  • User kallolborah posted in the forum following their “proposal to the Compounds Grants committee about implementing an extension to support real world assets with the Compound protocol” and requested feedback on potential governance frameworks for approving which RWA’s would be admitted as collateral.

  • The Stader Labs team, which is preparing to submit a proposal to add MaticX as a collateral asset on Compound v3 on Polygon, shared a token checklist for the asset.

  • The Chaos Labs team provided an update on their grant from the Compound Grants Program to build a “a state-of-the-art Compound Cross-Chain Analytics and Observability platform.” It is now complete and Chaos Labs is looking for feedback from the community.

  • Wido announced that they have “completed Milestone 2” for their grant to build the “Compound Collateral Swap Extension” which “will enable Compound III users to swap deposited collateral, even if the collateral is locked due to an open borrowing position.” It is now live in Sandbox and Wido is requesting feedback.

:telephone_receiver: Developer Community Call Summary

Compound’s most recent Developer Community Call was Wednesday, June 14, 2023. Click here to listen to the recording. Here’s what was discussed:

  • Paul from Gauntlet discussed actions taken during the recent period of market volatility (e.g. actions taken to mitigate issues from Sushiswap’s price not updating in Compound v2) and provided an update on the Polygon and Arbitrum Comets. He also highlighted upcoming work from Gauntlet, including recommendations about stMatic and MaticX (see above) as well as deployments to new chains like Base.

  • Michael from OpenZeppelin provided an update on what OZ has been working on, including auditing and security monitoring. OZ collaborated with Gauntlet and others to deal with the Sushiswap situation. Michael noted that while OZ’s system to monitor similar situations worked well, there are certain improvements they will make going forward. They plan to after further share their thoughts with the community in the forum.

  • Roger from Chainlink (the oracle service that provides price data) clarified that the issue was not rooted in Chainlink, but rather the underlying data from Uniswap. This prompted agreement that there are improvements that could be made. Michael from OZ said more data would be gathered and shared with the community.

  • Nick from Rocket Pool gave an overview of Rocket Pool for the Compound community and floated the idea of $rETH - the liquid staking token - as collateral to Compound v3.

  • Aditya from Stader Labs provided an update on next steps for listing MaticX as a collateral on Compound v3 on Polygon, which is blocked by the need for Gauntlet’s parameter recommendations and OpenZeppelin audits.

  • Mark from Fuji Finance discussed their project building a cross-chain migration tool for Compound and asked for guidance on how to handle admin roles for this tool, which prompted a discussion with several community members.

  • Boardroom gave our update on Compound governance activity.

  • Adam from Compound Labs highlighted Compound Grants’ plan to host a demo day for grant projects as well as Compound’s prizes at the ETHGlobal Waterloo hackathon.

:date: Upcoming Events

:crystal_ball: Upcoming Votes

  • There are no upcoming votes in the queue.

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

7

Weekly Update - July 3, 2023

:hourglass: Key Points

  • OpenZeppelin’s compensation proposal passed after barely reaching quorum. Gauntlet’s proposal on Phase 4 of the v2 to v3 migration failed to reach quorum.
  • An interesting discussion on “real world assets” continues in the forum.

:ballot_box: Proposals

  • Compound V2->V3 Migration Proposal Phase 4

    • Summary: A proposal to implement Phase 4 of Compound v2 to v3 migration, led by Gauntlet, by decreasing v2 rewards and increasing v2 USDC reserve factor.

    • Proposer: 0x7B3c54e17d618CC94daDFe7671c1e2F50C4Ecc33 (Gauntlet)

    • Status: Closed after failing to meet quorum.

  • OpenZeppelin Security Partnership - 2023 Q3 Compensation

    • Summary: A proposal to approve OpenZeppelin’s compensation for the third quarter of 2023. Based on last week’s average price of $29.31 per COMP, the total quarterly payment will be 34,118 COMP, equal to $1M, per the original agreement dating back to December 21, 2021.

    • Proposer: 0xeC405bcD169633C0D8EDc8ef869E164e42b9ec1E

    • Status: Passed on June 29, 2023.

  • Top-up COMP Rewards on Compound V3 mainnet contract

    • Summary: A proposal to replenish the supply of COMP used for rewards to users of Compound v3 on mainnet. The proposal would transfer 78,015 COMP from the Comptroller to the Rewards contract, corresponding to 150 days of rewards.

    • Proposer: gauntletgov.eth

    • Status: Passed on June 27, 2023.

:writing_hand: Forum Highlights

  • Community member kallolborah’s thread in the forum about real world assets has yielded an interesting discussion about the potential of adding RWA’s as collateral on Compound. Kallolborah and collaboraters plan to build a “Comet extension for RWA Markets.”

:newspaper: Stakeholder News

:telephone_receiver: Developer Community Call Summary

Compound’s most recent Developer Community Call was Wednesday, June 28, 2023. Click here to listen to the recording. Here’s what was discussed:

  • Harsha from Compound Grants shared an update with the community. The deadline for grants to be included in CGP 2.0 was June 30th. He advised that there are a number applications currently under review given the recent hackathon and the approaching deadline; answers about outstanding applications may take up to two weeks. Harsha also announced that (1) there will be a demo day for all projects that have received grants, more information to come and (2) CGP will be returning all unallocated funds to the treasury.

  • AlltheColors from Compound Grants along with Adam from Compound Labs reported on the team’s experience participating at ETHGlobal Waterloo. The next event is in September in New York.

  • Michael and Jared OpenZeppelin provided a work review of their last quarter, which included three audits, two security assessments, and the security solution for pause guardian multisig, with three more audits planned in the backlog. They also drew attention to OZ’s then active proposal to approve their compensation, which has since passed.

  • Tyler from Boardroom gave an overview of the last two weeks in Compound governance including past, live, and upcoming proposals.

  • Delcan and Marco from Consensys joined the call to discuss Linea, Consensys’s zkEVM Layer 2, and engage with the community on plans to deploy Compound in the new ecosystem.

  • Adam from Compound Labs brought up a handful of strategic, general questions for the community; including issues with Compound’s Arbitrum deployment in light of Circle’s changes to USDC on the network as well as the ongoing thread in the forum about real world assets on Compound.

:date: Upcoming Events

:crystal_ball: Upcoming Votes

  • There are no upcoming votes in the queue.

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

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