A whale holding COMP tokens is helping push through a governance proposal that would allocate $24 million in COMP to a yield-bearing protocol called goldCOMP.
A group called the 'Golden Boys' has pushed through a proposal, after three prior attempts, to direct $24 million in COMP token to a yield-bearing protocol called goldCOMP which would give passive income to COMP token holders.
Wintermute and other large stakeholders are concerned that the move constitutes a governance attack on the protocol. COMP, the native token of the lending protocol Compound, is down over 6% as the Decentralized Autonomous Organization that runs the protocol suffers from a possible"governance attack."when an attacker acquires significant voting power in a DAO to manipulate the protocol for personal gain, exploiting the permissionless and tradable nature of governance tokens.
However, in response to the Golden Boys' geen-lit proposal, the community put forward a motion to put limits on what they can do.While this may impede future governance attacks, it's unclear whether it will stop the Golden Boys from moving the COMP tokens they were after.in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin.
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