Compound Finance introduced the passing of Proposal 064 on Thursday, titled the “Repair COMP Accrual Bug.” The proposal states that this replace will try and “patch the bug launched in Proposal 62 and pessimistically enable COMP reward withdrawals till the unhealthy COMP accruals will be mounted.”
The proposal, which was written primarily by the identical group members who proposed the unique improve, obtained unanimous COMP votes of 1,037,107 for and 0 in opposition to from 27 key addresses together with CEO Robert Leshner, Andreessen Horowitz’s A16z, Gauntlet and Pantera Capital. The proposal is now anticipated to execute on Saturday.
Customers who interacted with the six affected markets — cTUSD, cMKR, cSUSHI, cYFI, cAAVE, and cSAI — won’t be able to say rewards from their entitled staked COMP tokens till after the problem is absolutely resolved.
Proposal 064 handed, and will be executed in two days:
1,037,107 COMP ✅
0 COMP ⛔️
For almost all of customers, the COMP Distribution will return to regular after execution.
Sure customers (that hit the 62 bug) can be unable to say COMP till after a future patch.
— Compound Labs (@compoundfinance) October 7, 2021
This final Friday, Cointelegraph reported that a token distribution bug throughout the community-written Proposal 062 uncovered a doubtlessly devastating monetary distribution flaw during which customers of the protocol have been mistakenly capable of declare COMP tokens to the sum of $70 million.
If exploited to the fullest, the bug would threaten to empty all COMP tokens held throughout the Comptroller contract, leaving solely these left within the Reservoir contract.
Makes an attempt to rectify the disaster have been instantly instigated by means of Proposal 063, which took seven days to succeed in manufacturing as a result of protocol’s governance process of reviewing, voting and time lock. This lasted two, three and an additional two days, respectively.
Nonetheless, the seven-day delay enabled a malicious entity to take advantage of the drip() performance, transferring $68.8m from the reservoir to the Comptroller, which will increase the pool for incorrectly distributed COMP rewards.
The web site’s governance reveals the rationale for an additional proposal iteration:
“Proposal 63 prevents additional COMP from being distributed till the right logic is restored however causes points for protocols that built-in with Compound and required the declare performance.”
Proposal 064 is anticipated to resolve Compound’s accrual points, however the misplaced funds can solely be reclaimed on a particular person foundation — a call the protocol stated is down to every person’s ethical discretion.