Compound Introduces Proposal Guardian Mechanism to Mitigate Governance Risks
Publication Time:2024-08-08 10:51:07
To enhance the governance security of the decentralized finance (DeFi) protocol Compound, the team has recently introduced the concept of a proposal guardian. This role will be filled by 4 out of 8 members of a multisignature group within the Compound DAO community. When the protocol faces potential governance risks, they can veto proposals that have passed majority votes but have not yet been executed. This innovative feature is implemented through the _setProposalGuardian function, which allows the guardian to call the cancel function for any proposal, thereby enabling immediate intervention in the governance process. Additionally, to ensure the correctness of this mechanism during on-chain operations, the development team has included a simulation testing phase. Currently, this proposal is ready and scheduled to go live on August 9th, allowing community members to vote and implement it from early next week.
DeFi protocol
multisignature
Proposal Guardian
Malicious Voting
Governance Risk