Compound reaches truce with crypto whale Humpy after controversial vote to move $24 million in tokens | Headlines | News | CoinMarketCap

07/30/2024 14:51
Compound reaches truce with crypto whale Humpy after controversial vote to move $24 million in tokens | Headlines | News | CoinMarketCap

Compound Finance brokered a truce with pseudonymous crypto whale Humpy and associated group The Golden Boys following intense discussions and what …

Compound Finance brokered a truce with pseudonymous crypto whale Humpy and associated group The Golden Boys following intense discussions and what some community members had deemed a governance attack.

The conflict arose after Proposal 289, led by Humpy, was passed under contentious circumstances intending to allocate $24 million worth of Compound’s treasury funds to a yield-bearing protocol led by The Golden Boys.

Soon after, the proposal was met with widespread criticism and allegations of vote manipulation — given that a small group had influenced the vote by purchasing large amounts of COMP tokens on the open market.

Under the new forum post — written by Bryan Colligan at Compound — Proposal 289 will be withdrawn, mitigating the governance risks it posed. In its place, a new …

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