Compound unanimously passes proposal to repair bug
Compound unanimously passes proposal to repair bug
Proposal 064 seeks to repair the token distribution bug introduced during Proposal 062 once and for all.
2530 Total views
ix Full shares
Compound Finance appear the passing of Proposal 064 on Thursday, titled the "Ready COMP Accrual Bug." The proposal states that this update will attempt to "patch the bug introduced in Proposal 62 and pessimistically allow COMP advantage withdrawals until the bad COMP accruals can be fixed."
The proposal, which was written primarily by the same community members who proposed the original upgrade, received unanimous COMP votes of i,037,107 for and 0 against from 27 key addresses including CEO Robert Leshner, Andreessen Horowitz's A16z, Gauntlet and Pantera Capital. The proposal is now expected to execute on Saturday.
Users who interacted with the six affected markets — cTUSD, cMKR, cSUSHI, cYFI, cAAVE, and cSAI — volition not exist able to claim rewards from their entitled staked COMP tokens until afterwards the issue is fully resolved.
— Chemical compound Labs (@compoundfinance) October 7, 2022Proposal 064 passed, and tin can be executed in 2 days:
1,037,107 COMP ✅
0 COMP ⛔️For the majority of users, the COMP Distribution volition return to normal later execution.
Certain users (that striking the 62 problems) will be unable to claim COMP until after a future patch.
This last Friday, Cointelegraph reported that a token distribution issues inside the customs-written Proposal 062 exposed a potentially devastating fiscal distribution flaw in which users of the protocol were mistakenly able to claim COMP tokens to the sum of $70 million.
If exploited to the fullest, the bug would threaten to drain all COMP tokens held inside the Comptroller contract, leaving only those left in the Reservoir contract.
Attempts to rectify the crisis were immediately instigated through Proposal 063, which took seven days to reach production due to the protocol's governance process of reviewing, voting and time lock. This lasted 2, iii and a further two days, respectively.
However, the 7-solar day filibuster enabled a malicious entity to exploit the drip() functionality, transferring $68.8m from the reservoir to the Comptroller, which increases the pool for incorrectly distributed COMP rewards.
The website'southward governance reveals the reason for a further proposal iteration:
"Proposal 63 prevents further COMP from beingness distributed until the correct logic is restored but causes issues for protocols that integrated with Compound and required the claim functionality."
Proposal 064 is expected to resolve Compound's accrual problems, only the lost funds can only be reclaimed on a private ground — a determination the protocol said is downwards to each user's moral discretion.
Source: https://cointelegraph.com/news/compound-unanimously-pass-proposal-to-repair-bug
Posted by: newellcoughterep61.blogspot.com

0 Response to "Compound unanimously passes proposal to repair bug"
Post a Comment