Compound Finance introduced the passing of Proposal 064 on Thursday, titled the “Repair COMP Accrual Bug.” The proposal states that this replace will try to “patch the bug launched in Proposal 62 and pessimistically enable COMP reward withdrawals till the dangerous COMP accruals could be fastened.”
The proposal, which was written primarily by the identical group members who proposed the unique improve, acquired 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 Saturday.
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 totally resolved.
Proposal 064 handed, and could be executed in two days:
1,037,107 COMP ✅
0 COMP ⛔️
For almost all of customers, the COMP Distribution will return to regular after execution.
Sure customers (that hit the 62 bug) shall be unable to assert COMP till after a future patch.
— Compound Labs (@compoundfinance) October 7, 2021
This final Friday, Cointelegraph reported that a token distribution bug throughout the community-written Proposal 062 uncovered a probably devastating monetary distribution flaw by which customers of the protocol had been mistakenly in a position to declare COMP tokens to the sum of $70 million.
If exploited to the fullest, the bug would threaten 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 seven days to achieve manufacturing because of the protocol’s governance process of reviewing, voting and time lock. This lasted two, three and an extra two days, respectively.
Nonetheless, 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 reveals the explanation for an extra 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 call the protocol mentioned is down to every person’s ethical discretion.