DeTribe

Compound Finance got DAO REKT because they just don't seem to care. Here’s how absurd the process was: An initial proposal to grant 92k $COMP was submitted without prior discussion. Thankfully, Compound's security advisor @LewellenMichael spotted it. Despite glaring red flags, Michael's warnings only received 6 comments on the DAO forum. Notable few who cared: @MonetSupply and Wintermute. Humpy (the proposer) acknowledged the criticism and canceled the first proposal. Then, he submitted a second vote, attracting just 4 comments from @StableLab, Wintermute, @bryancolligan, and Michael. Despite the lack of public concern, the second proposal thankfully FAILED. But then it got wilder: the third proposal not only sailed through but saw Humpy increase the requested $COMP amount by a crazy 5.4x, jumping from 92k to 499k. Only 57 addresses cast their votes for the goldCOMP proposal. Where was everyone else? It seems nobody cares. Barely ~20 addresses typically participate in DAO votes. Proposal discussions in the forum attract minimal engagement. For instance, a previously contentious plan to launch a USDT market on Compound III quietly passed in July. Almost all proposals in Compound DAO originate from Gauntlet. In practice, Gauntlet runs the DAO, and they get paid to do it. Gauntlet's effectively running the DAO because they're getting paid. And the rest? Silence. No pay, no interest. Even the Compound team seems indifferent. @compoundfinance doesn't even tweet anymore. This is alarming. If Humpy can pass this vote, what's stopping another vote from jeopardizing your lent assets next? Just use @aave, @0xfluid or any other lending protocol with the community that cares.