Compound uses its protocol treasury to buy COMP. The key isn’t the purchase itself, but what happens 58 minutes before the snapshot: after 344,780 COMP are credited, they are delegated to the foundation, moving the side supporting Proposal 582 from 45.1% to 50.1%—just over the majority. That way, even if other representatives vote entirely against, they still can’t outvote the supporters.
On-chain, you can only trace one Binance account transaction; it’s not possible to prove who the paying account belongs to. Whether the foundation has the right to convert the treasury reserves into voting power is also still in dispute.
On-chain, you can only trace one Binance account transaction; it’s not possible to prove who the paying account belongs to. Whether the foundation has the right to convert the treasury reserves into voting power is also still in dispute.