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  • Delegation and Voting with EIP-712 Signatures

    Compound’s governance system is powered by COMP token, which is distributed to users of the protocol. COMP token holders receive voting power on a 1–1 basis to the amount of COMP held; this voting power can be delegated to any address, and then can be used to vote on proposals.There are two methods by which a user can delegate their voting rights or cast votes on proposals: either calling the relevant functions (delegate, castVote) directly; or using by-signature functionality (delegateBySig, ca… … More

  • Dai Breaks Peg Amidst COMP Yield Farming cDAI Update

    Dai – DeFi’s defacto decentralized stablecoin – is facing a major hurdle as Compound adjusts it’s COMP token distribution to favor new assets earning the most COMP/day. Liquidity mining incentives are powerful.
    So powerful that they can cause exogenous shocks to other protocols.
    Is @MakerDAO up next? Props to @cyounessi1 for being ahead of the curve here.
    — Will Price (@will__price) June 29, 2020 With the passing of Proposal 11, COMP is now… … More

  • DeFi Rate Votes “Against” Compound Proposal #12 – cDAI Interest Rates

    Following Dharma’s recent governance piece on proposal #11 along with our continued efforts on transparent governance, DeFi Rate will be releasing our rationale behind Compound Governance votes in a series of blog posts. 
    Proposal #12: Update cDAI Interest Rate Model (Forum Discussions here) 
    Proposer: Dharma
    DeFi Rate Vote: Against
    Voting Weight: ~10,250 COMP Background
    Compound Proposal #12 by Dharma proposes to update the cDAI interest rate model, aiming to decouple the existing intere… … More

  • Compound Interview: Strategy Lead Calvin Liu Talks COMP Governance

    Compound – the sector-leading lending protocol – has continued to reach new highs following the launch of their native governance token – COMP.
    With over $1B in assets now being supplied to the fasted growing DeFi product on the market, yield farmers are racing to get their hands on the hottest new DeFi token.
    Meanwhile, anyone who’s been following Compound knows that this launch was the cumulation of years of hard work and perfect timing. COMP’s launch has triggere… … More

  • DeFi Rate Votes “Yes” on Compound Proposal #11

    Following Dharma’s recent governance piece along with our continued efforts on transparent governance, DeFi Rate will be releasing our rationale behind Compound Governance votes in a series of blog posts. 
    Proposal #11: COMP Distribution Patch (Forum discussions here)
    Proposer: Geoffrey Hayes
    DeFi Rate Vote: Yes
    Voting Weight: 10,211 COMP (~0.10% of total supply)  Background
    While the launch of COMP yield farming has been a massive success, propelling the protocol to $1B in total supply a… … More

  • UMA Launches New Synthetic for Shorting COMP

    UMA – a decentralized protocol establishing a generalized framework for creating synthetic assets – launched yCOMP to provide DeFi users with the ability to short COMP, Compound‘s native governance token. 1/ Synthetic $COMP (yCOMP) is live on mainnet. It is now possible to permissionlessly short $COMP.
    — UMA (@UMAprotocol) June 26, 2020 With Compound surging to over a $2B valuation within weeks of launch, the introduction of a token allowing users to gain “short… … More

  • Dharma Votes to Pass Prop 10

    Context:Dharma is a voting delegation in the new Compound open governance system. We have decided to record our governance decisions in blog posts, so that the community can see our reasoning and voting record over time. Proposal Title: Adjusting COMP distribution speed to match Ethereum network block time and increasing higher-risk assets Reserve Factor (link) Proposer: blck Dharma Vote: Yes Rationale: This was a difficult vote for Dharma to make. We considered this proposal… … More

  • This Week in DeFi – June 19th

    To Our DeFi Community,
    Compound’s launch of the COMP token earlier this week may have very well sparked a new trend in DeFi – liquidity mining (also known as yield farming). In case you somehow missed it, the leading lending protocol has begun distributing COMP tokens to each of the protocol’s money markets pro-rata by the total interest accrued. While many were anticipating the launch, few expected the results.
    After initially listing on Uniswap for $16, COMP tokens have soare… … More

  • Compound TVL Surges From COMP Yield Farming: Governance Decisions

    Compound – the sector-leading lending protocol – is experiencing new paradigms as a result of its COMP token distribution. Since its start on Monday, Compound’s TVL has spiked more than $300M, putting it on track to take the top position on DeFi Pulse should this growth continue. Perhaps what’s most interesting about this trend is that the vast majority of liquidity is coming from other DeFi protocols, including the likes of centralized counterparts like Nexo. To summari… … More

  • Coinbase Announces Support for COMP Governance Tokens

    Coinbase – the leading US crypto exchange – has announced that they will be adding Compound‘s new governance token – COMP on Monday, June 22cnd. On Monday, June 22, our COMP-USD and COMP-BTC order books will enter transfer-only mode, accepting inbound transfers of COMP in supported regions. Orders cannot be placed or filled. Order books will be in transfer-only mode for a minimum of 12 hours.
    — Coinbase Pro (@CoinbasePro) June 18, 2020 The … … More

  • Compound (COMP) is launching on Coinbase Pro

    On Monday, June 22, transfer COMP into your Coinbase Pro account ahead of trading. Support for COMP will be available in all Coinbase’s supported jurisdictions, with the exception of New York State. Per previous launches, transfers will open during business hours, Pacific time.On Monday, June 22, we will begin accepting inbound transfers of COMP to Coinbase Pro. Trading will begin on or after 9AM Pacific Time (PT) the following day, if liquidity conditions are met.Once sufficient supply of COMP … … More

  • COMP Distribution Begins: Overview & FAQ

    Compound Finance – the sector leading lending protocol – has just begun distributing its native governance token – COMP. Proposal 007 has succeeded, and can be executed after a 2-day waiting period.
    1,116,310.81 COMP 0.00 COMP The COMP Distribution will begin on June 15th.
    — Compound (@compoundfinance) June 13, 2020 After passing a vote with an overwhelming majority to kick off the distribution, all users supplying and borrowing assets from the m… … More

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