Tally CEO: Recent Compound Governance Incident Not an Attack
CryptoNewsTerminal Staff01 Aug, 2024
Tally CEO: Recent Compound Governance Incident Not an Attack
According to Coindesk, Tally CEO has stated that the recent Compound (COMP) governance incident was not an attack. This is because no smart contracts were exploited, and all actions were taken within the DAO's rules. However, the controversy sparked by Proposal 289, which allocated 499,000 COMP to a yield-generating protocol designed by Golden Retriever, highlights the need for improving the DAO's democratic process.