Attention: On 9/20/24 the Compound community’s Discord server was compromised.
Access has been regained and secured.
Always stay vigilant for scams and do not click any suspicious links.
https://x.com/compoundfinance/status/1837515311983006144
Access has been regained and secured.
Always stay vigilant for scams and do not click any suspicious links.
https://x.com/compoundfinance/status/1837515311983006144
In June 2020, the Compound protocol was decentralized with the launch of COMP and the full transfer of control to the community through governance. As a foundational piece of decentralized finance infrastructure, Compound is designed to exist in perpetuity—open, autonomous, and available to all.
As one of the first protocols to fully decentralize, the approach was primitive and the territory was uncharted. While the community has grown and matured, it has done so without a core operational pillar—specifically, a foundation—something that has since become a standard support structure for many DeFi protocols.
Over time, the protocol has adopted critical support systems for areas like risk (via gauntlet_xyz
) and security (via openzeppelin
). However, in the absence of a foundation, consistent and clear leadership within the community has been lacking, making even routine tasks unnecessarily complex.
With the upcoming development of Compound v4 and growing engagement in the community forums, along with the progressive decentralization of the Compound ecosystem and the pullback of involvement from Compound Labs, we've seen the growing need for more consistent structure. In response, we believe it's time to explore the creation of a Compound Foundation.
A foundation, entirely separate from Labs or any other existing entity, would provide clarity and continuity—serving as a consistent leadership and coordination layer for the community. It would support key coordination functions across the community, another service provider. We've seen the benefits of this model in other ecosystems, such as the uniswapFND
.
We look forward to further discussion in the community around the idea of a Compound Foundation in the forums. Labs stands ready to assist the community, if that assistance would be helpful.
As one of the first protocols to fully decentralize, the approach was primitive and the territory was uncharted. While the community has grown and matured, it has done so without a core operational pillar—specifically, a foundation—something that has since become a standard support structure for many DeFi protocols.
Over time, the protocol has adopted critical support systems for areas like risk (via gauntlet_xyz
) and security (via openzeppelin
). However, in the absence of a foundation, consistent and clear leadership within the community has been lacking, making even routine tasks unnecessarily complex.
With the upcoming development of Compound v4 and growing engagement in the community forums, along with the progressive decentralization of the Compound ecosystem and the pullback of involvement from Compound Labs, we've seen the growing need for more consistent structure. In response, we believe it's time to explore the creation of a Compound Foundation.
A foundation, entirely separate from Labs or any other existing entity, would provide clarity and continuity—serving as a consistent leadership and coordination layer for the community. It would support key coordination functions across the community, another service provider. We've seen the benefits of this model in other ecosystems, such as the uniswapFND
.
We look forward to further discussion in the community around the idea of a Compound Foundation in the forums. Labs stands ready to assist the community, if that assistance would be helpful.
This media is not supported in your browser
VIEW IN TELEGRAM
🚨 New Bug Bounty Program alert! 🚨
compoundfinance, the DeFi protocol for money markets, just launched a $1 MILLION bug bounty program on Immunefi 🎯
Ready to secure the future of decentralized finance? This 🧵has the details.
compoundfinance, the DeFi protocol for money markets, just launched a $1 MILLION bug bounty program on Immunefi 🎯
Ready to secure the future of decentralized finance? This 🧵has the details.
This program offers BIG rewards for finding vulnerabilities:
💥 Crits: Up to $1,000,000
💥 Highs: $10,000 - $50,000
💥 Mediums: $5,000
💥 Lows: $1,000
If you’re a security, now’s your chance to make an impact and earn big! 💸
Find out more:
What is Compound Finance? 🤔
Compound Finance is revolutionizing DeFi by enabling users to supply and borrow crypto assets while earning interest — all through a transparent and permissionless system. 🚀
With billions in TVL, securing it is critical for the DeFi ecosystem. 🛡
Think you’ve got what it takes to uncover vulnerabilities and secure one of DeFi’s most trusted protocols? 💪
Get hunting on the Compound Finance Bug Bounty Program today:❤️🩹
💥 Crits: Up to $1,000,000
💥 Highs: $10,000 - $50,000
💥 Mediums: $5,000
💥 Lows: $1,000
If you’re a security, now’s your chance to make an impact and earn big! 💸
Find out more:
What is Compound Finance? 🤔
Compound Finance is revolutionizing DeFi by enabling users to supply and borrow crypto assets while earning interest — all through a transparent and permissionless system. 🚀
With billions in TVL, securing it is critical for the DeFi ecosystem. 🛡
Think you’ve got what it takes to uncover vulnerabilities and secure one of DeFi’s most trusted protocols? 💪
Get hunting on the Compound Finance Bug Bounty Program today:❤️🩹