Compound Protocol Considers Foundation Creation
Compound Protocol Considers Foundation Creation
🏛️ Compound's Missing Piece
Compound Protocol, decentralized since June 2020, is exploring the establishment of a dedicated foundation to provide clearer leadership and coordination. While the protocol has grown with support from risk (Gauntlet) and security (OpenZeppelin) partners, it has lacked consistent community leadership structure.
Key points:
- Foundation would be separate from Compound Labs
- Aims to improve coordination and leadership
- Coincides with upcoming Compound v4 development
- Similar to Uniswap Foundation model
The initiative comes as Compound Labs reduces involvement and community engagement increases. The foundation would serve as a coordination layer while maintaining the protocol's decentralized nature.
In June 2020, the Compound protocol was decentralized with the launch of COMP and the full transfer of control to the community through governance. As a foundational piece of decentralized finance infrastructure, Compound is designed to exist in perpetuity—open, autonomous, and
Compound Labs Website Secure After Recent Compromise
The Compound Labs website has been secured following a recent compromise. Users are advised to exercise caution when clicking links to avoid phishing scams. It is recommended to restart browsers to ensure visiting the correct website. The company emphasizes that only URLs ending in compound.finance, app.compound.finance, or compoundlabs.xyz are official Compound Labs websites. The protocol and smart contracts were not impacted during the incident. Further details on the investigation will be provided in due course.
Chainlink DeFi Yield (CDY) Index - Aggregating DeFi lending rates
The Chainlink DeFi Yield (CDY) Index is a new initiative that aims to aggregate market-wide DeFi lending rates. It leverages secure and battle-tested protocols as data sources.
Compound Labs X Account Compromised
The Compound Labs X account was compromised for approximately 4 hours before control was regained and spam messages were removed. Compound Labs now has full control of the account and thanks the community for their support during this incident.
Example interface unaffected by Ledger dependency hack
The example interface at [link] is safe from the recent Ledger dependency hack. No past versions of the interface included the vulnerable dependency and no code updates have been applied related to this issue. Both the v2 and v3 interfaces were reviewed and confirmed unaffected.