The governance dispute involving #Compound has escalated.
Bitquery’s on-chain reconstruction shows that on May 5 at 09:46 UTC, 344,780 COMP were transferred into a DAO reserve wallet, and 58 minutes later the governance snapshot was finalized for voting power. The wallet delegated the votes to the foundation, which is also the supporter of the proposal.
As a result, the supporter received 50.1% of the 3,757,805 delegated votes, and proposal 582 passed with zero votes against.
On September 27, forum representative ugurmersin accused this of exceeding authority over reserve authorizations; on the 28th, the foundation responded that the conversion served the purpose of “governance continuity,” that COMP still belongs to the DAO, and that it was not used for its own operations.
The crux of the dispute is not where the funds went, but “who has the right to use the treasury to influence the treasury’s own vote.”
Bitquery’s on-chain reconstruction shows that on May 5 at 09:46 UTC, 344,780 COMP were transferred into a DAO reserve wallet, and 58 minutes later the governance snapshot was finalized for voting power. The wallet delegated the votes to the foundation, which is also the supporter of the proposal.
As a result, the supporter received 50.1% of the 3,757,805 delegated votes, and proposal 582 passed with zero votes against.
On September 27, forum representative ugurmersin accused this of exceeding authority over reserve authorizations; on the 28th, the foundation responded that the conversion served the purpose of “governance continuity,” that COMP still belongs to the DAO, and that it was not used for its own operations.
The crux of the dispute is not where the funds went, but “who has the right to use the treasury to influence the treasury’s own vote.”