Defy Platform Allows Compound Bug Users to Claim $ 88 Million on Tokens – Bitcoin News

Etherium is a compound in Blockchain’s trademark default protocols, encountering a bug that allows users to recover unusually high amounts of its local tokens. This problem was caused by the implementation of a proposal that amended the agreement that provided users with tokens. Robert Lesnar, founder of Compound Labs, has announced that the bug will have to wait seven days due to secure user funds and platform policy.

Compound hits with distribution bugs

One of the top decentralized finance platforms built on top of Ethereum, facing a bug that allows users to claim more prototyping, protocol native tokens than they normally can. The bug was a Products Rule Proposal Application 062, which corrects the relationship to which the comp token is issued.

According to Robert Lesnar, founder of Compound Labs, the process was the result of a code of proposals proposed by a community member with the help of other community members. About this, Lesnar Stated:

This is the biggest opportunity and the biggest risk for a decentralized protocol – an open development process that allows a bug to enter production.

The impact of the bug is limited to the vibrations available in the Smart Contractor of Comptroller, which at the time of writing is about 280,000 vibrations, valued at $ 88 million.

Lack of quick fix leads to frustration

Due to the governance process and the principle of applying regime change to the platform, there is no quick and easy solution to this problem. Each regime proposal requires at least seven days to pass, approve and implement. However, Proposition 063, presented by some community members, disables the ability to claim vibrations until the bug is resolved.

Lesnar tried to warn members of the community that if the lion’s share of the claimed quake was not returned, he would report it to the IRS as income and disclose their identities in the process. This caused almost universal outcry from compound users, who questioned how the protocol was actually decentralized.

Laser in the end backpedaled In this confirmation, announcing:

I’m trying to do what I can to help the community get something back from its comp, and it was a bone-chilling tweet / method. It’s up to me.

Compound is making its proposal to entice organizations to use its services. The company announced in June the launch of a service called Treasury, which was designed to give companies in space the opportunity for stable yields.

What do you think about the compound bug and its governance policy? Tell us in the comments section below.

Image credit: Shutterstock, Pixabay, WikiCommons

Denial: This article is for informational purposes only. It is not a direct offer or request for a purchase or sale offer, nor is it a recommendation or approval of a product, service or company. does not provide investment, tax, legal, or accounting advice. The Company or the Author is not directly or indirectly responsible for any loss or damage caused by or in connection with the use or reliance on any content, product or service referred to in this article.

Source link

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button