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Morning Edition · Tuesday, September 29, 2026Published at 1:41 AM EDT · New York
Compound Delegates Say the Foundation Used DAO Reserves to Buy the Votes That Approved Its Own Budget
On-chain records show reserve funds converted into 344,780 COMP and delegated to the Foundation's voting address, returned less than an hour before two proposal deadlines.
A governance dispute at Compound, one of the oldest lending protocols on Ethereum, turns on where voting power came from. In February, Proposal 536 placed 8.42 million dai of protocol reserves under the Compound Foundation's management, wit…
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Losses Move to Components That Worked as Designed
A growing share of DeFi losses will come not from buggy contract code but from components behaving exactly as specified — oracle forwarders, validator signature sets, governance votes and other trusted off-contract inputs — so audits and bug bounties scoped to on-chain code keep missing the failure surface, and protocols will be repeatedly forced to extend review, scope and monitoring to their privileged operational infrastructure.
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