A new staking product will be offered instead of what Humpy and the Golden Boys initially proposed.
A crisis that had been called a governance attack on the Compound lending protocol seems to have been averted.
Humpy and the Golden Boys have signaled they will accept a counter-proposal to build a yield-bearing protocol similar to goldCOMP that will be controlled by the Compound DAO.A move to create a new yield-bearing protocol called goldCOMP by a large group of COMP holders, the native token of the Compoud lending protocol, has been called off, and the market is reacting positively.
COMP added 5.6% to $51.27 after the proposal's backers, a whale named Humpy and a group of COMP holders known as the Golden Boys, agreed to cancel their proposal and vote for an alternative that involves creating a staking product that will be controlled by the CompoundDAOintended to provide passive income.
The new staked product will be controlled by the Compound DAO – directly addressing a concern many had that Humpy and the Golden Boys would have outsized control – and will be audited by a designated security partner appointed by Compound and continually audited by the DAO's Market Risk Manager., that allocated COMP tokens into a trust to create goldCOMP. Humpy did not withdraw the offer by the initial deadline, but said in forum posts that he"fully approves" the idea.
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