THELOGICALINDIAN - The arguable Compound bailout has bootless Voters who were adjoin the angle outweighed those in favor of it by a arrangement of 31
A Compound governance proposal, which would accept handed out ~$8.7 actor (~55,000 COMP), has failed. It would accept partially reimbursed users that were liquidated aback on the eve of Thanksgiving.
Compound Attempts Bailout
The angle aimed to balance users who were asleep due to a amount answer abortion the day afore Thanksgiving.
If passed, afflicted users would accept accustomed 8% of their absolute liquidations in the anatomy of COMP tokens. For Example, if a user had 100 DAI liquidated, again that user would accept accustomed 8 DAI account of COMP tokens. The Thanksgiving defalcation resulted in a ~$100 actor defalcation in a amount of 24 hours. The angle hoped to balance aloof beneath $9 actor of that sum.
The angle began as a Compound Autonomous Proposal (CAP) and exceeded the 100,000 votes bare to canyon a academic proposal. However, back the angle was alien as a academic proposal, it bootless to accumulate the aforementioned support.
The academic angle becoming ~212,000 votes for and ~681,000 votes against.
Noteworthy names that voted adjoin the angle included Polychain Capital, Dharma, Argent, Pantera Capital, and abounding more.
Kain Warwick, Founder of accepted DeFi protocolSynthetix, voted in favor of the proposal. He said that this would adjust the interests of both the COMP holders as able-bodied as the COMP depositors activity forward.
Pantera Capital, an advance firm, stated that they had voted adjoin the proposal. They believed that users accommodating in a permissionless agreement should be acquainted of the risks they are undertaking, and as such, they should not be compensated.
Gauntlet, a tokenomics close that has been actual alive in Compound governance of late, decided to abjure from voting.
