CookingCryptos

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In June 2020, the Compound protocol was decentralized with the launch of COMP and the full transfer of control to the community through governance. As a foundational piece of decentralized finance infrastructure, Compound is designed to exist in perpetuity—open, autonomous, and available to all. As one of the first protocols to fully decentralize, the approach was primitive and the territory was uncharted. While the community has grown and matured, it has done so without a core operational pillar—specifically, a foundation—something that has since become a standard support structure for many DeFi protocols. Over time, the protocol has adopted critical support systems for areas like risk (via @gauntlet_xyz) and security (via @openzeppelin). However, in the absence of a foundation, consistent and clear leadership within the community has been lacking, making even routine tasks unnecessarily complex. With the upcoming development of Compound v4 and growing engagement in the community forums, along with the progressive decentralization of the Compound ecosystem and the pullback of involvement from Compound Labs, we've seen the growing need for more consistent structure. In response, we believe it's time to explore the creation of a Compound Foundation. A foundation, entirely separate from Labs or any other existing entity, would provide clarity and continuity—serving as a consistent leadership and coordination layer for the community. It would support key coordination functions across the community, another service provider. We've seen the benefits of this model in other ecosystems, such as the @uniswapFND. We look forward to further discussion in the community around the idea of a Compound Foundation in the forums. Labs stands ready to assist the community, if that assistance would be helpful.

We are thrilled to announce that DeFiScan received the support of the @ethereumfndn with a grant. It will enable us to accelerate and ensure that more reviews are processed with the same precision and exhaustivity our readers value. EF ❤️ DeFi(Scan)

@TokenBrice I flagged your tweet internally hours ago, but ive been busy w/ v4 rollout and didnt have time to personally respond appreciate the report, we've verified hundreds of contracts across over a dozen chains its obv not intentional lol

To start 2025, there are 2 more protocol reviews at once: @Uniswap V3 on Ethereum and Arbitrum Uniswap V3 is the Automated Market Maker (AMM) at the origin of concentrated liquidity, where liquidity providers can specify custom price ranges in which their liquidity is active🧵

The DeFi industry has always lacked a neutral tool to evaluate the decentralization of DeFi protocols. This is why we built DeFiScan! DeFiScan is a website dedicated to decentralization assessments in DeFi protocols. Much like @l2beat for L2s, the DeFi community now has a tangible tool for assessing decentralization for DeFi protocols. DeFiScan is paramount for the transparency and security of users in this ecosystem. DeFiScan's evaluation criteria are transparent and can be applied to any protocol. These criteria are as follows: ⛓️ Chain: A protocol can only be as secure as the blockchain it is built on.. To estimate the risk, L2Beat assessments are authoritative. 🚨 Upgradability: Upgradability is the ability of a permission owner to make changes to a DeFi protocol. That permission owner can be a multisig, on-chain governance, or even no ownership. 🌤️ Autonomy: this criterion is dedicated to the external dependencies (oracles, external protocols…) and their risk of failure 🪟 Exit window: An exit window allows users to withdraw assets before an unwanted update is implemented in a DeFi protocol 🚪 Accessibility: There must be availability and diversity in user interfaces, so the user can access funds and interact with the protocol anytime and anywhere When a DeFi protocol meets the requirements to be listed on DeFiScan, it obtains a “decentralization stage”, depending on the degree of risk associated with these criteria. For the launch of DeFiScan, a first cohort of Protocol reviews has been added: @LiquityProtocol @0xDYAD @VelodromeFi @AerodromeFi @PoolTogether_ @mavprotocol @Possum_Labs Hence, DeFi users get an idea about the genuine decentralization of a protocol and adapt according to their risk aversion!