Compound Votes to Extend Fiscal Withdrawal Delays and Veto Powers
2026-10-06 08:06:59
CoinMeta data: Holders of Compound are voting on Proposal 612, which aims to extend the financial withdrawal period from two days to ten days and grant the protocol's governance team the authority to cancel financial transactions before they are executed. Voting began on Sunday and will end on October 7th (Wednesday). Although these changes may seem technical in nature, the main focus is on who will have control over the finances of Compound. According to the latest voting statistics, there are 1.75 million votes in favor of the proposal and 921,000 votes against it, far exceeding the required quorum of 400,000 votes. The proposal also involves an incident on September 29th where the Compound Financial Management Committee transferred approximately 3 million US dollars in stablecoins to an independent security account and used 2 million US dollars of USDC on Uniswap V3 to take a unilateral COMP position. Supporters of Proposal 612 believe that this incident indicates a need for enforceable pauses in governance, rather than merely voluntary requests.
Source:Cryptopolitan
This content is for market information only and does not constitute investment advice.
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