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Compound unanimously passes proposal to restore bug


Proposal 064 seeks to restore the token distribution bug launched throughout Proposal 062 as soon as and for all.

Compound Finance introduced the passing of Proposal 064 on Oct. 7, titled the “Repair COMP Accrual Bug.” The proposal states that this replace will try and “patch the bug launched in Proposal 62 and pessimistically permit COMP reward withdrawals till the unhealthy COMP accruals could be mounted.”

The proposal, which was primarily written by the identical neighborhood members who proposed the unique improve, obtained unanimous COMP votes of 1,037,107 for and 0 towards from 27 key addresses together with CEO Robert Leshner, Andreessen Horowitz’s A16z, Gauntlet and Pantera Capital. The proposal is now anticipated to execute on Oct. ninth.

Customers who interacted with the six affected markets — cTUSD, cMKR, cSUSHI, cYFI, cAAVE, and cSAI — will be unable to assert rewards from their entitled staked COMP tokens till after the problem is absolutely resolved.

On Sept. thirtieth, Cointelegraph reported {that a} token distribution bug throughout the community-written Proposal 062 uncovered a probably devastating monetary distribution flaw through which customers of the protocol had been mistakenly capable of declare COMP token to the sum of $70 million.

If exploited to the fullest, the bug threatened to empty all COMP tokens held throughout the Comptroller contract, leaving solely these left within the Reservoir contract.

Makes an attempt to rectify the disaster had been instantly instigated by way of Proposal 063 which took 7-days to succeed in manufacturing because of the protocol’s governance process of reviewing, voting and time lock. This lasted 2, 3 and an additional 2 days respectively.

Nevertheless, the seven-day delay enabled a malicious entity to use the drip() performance, transferring $68.8m from the reservoir to the Comptroller which will increase the pool for incorrectly distributed COMP rewards. 

The web site’s governance revealed the explanation for an additional proposal iteration:

“Proposal 63 prevents additional COMP from being distributed till the right logic is restored however causes points for protocols that built-in with Compound and required the declare performance.”

Proposal 064 is anticipated to resolve Compound’s accrual points, however the misplaced funds can solely be reclaimed on a particular person foundation — a choice the protocol stated is down to every person’s ethical discretion.