ME News reports that on October 26 (UTC+8), Compound community member Humpy posted on the governance forum that their on-chain proposal, “Terminate Community Multisig’s Cancellation Right,” has entered a pending state. The proposal seeks to terminate the Community Multisig’s authority to cancel governance proposals as Proposal Guardian effective November 1, while retaining its role as Pause Guardian to suspend markets.
Humpy stated that on October 22, the community multisig canceled Proposal 618—which involved transferring $5 million from the Emergency Protocol Continuity Fund (EPCF)—before voting began, with approval from only five of nine signers, despite the proposal meeting all on-chain requirements and containing no malicious code. Humpy argued that the community multisig violated its original purpose of being used solely to block malicious proposals, and noted that two of the signers, Arr00 and Cylon, had previously been paid as advisors by the Compound Foundation, creating a conflict of interest.
Previously, Foresight News reported that Compound community member ugurmersin proposed a compromise on the closed Proposal #613, suggesting that control of the Emergency Protocol Continuity Fund (EPCF) be transferred from the Compound Foundation to a community multisig. (Source: Foresight News)
Compound Proposes Ending the Community Multisig’s Authority to Cancel Governance Proposals
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Summary
Compound’s decentralized governance system is evolving as a proposal to remove the Community Multisig’s ability to cancel governance proposals moves into pending status. Effective November 1, this change will eliminate the Multisig’s role as Proposal Guardian while retaining its Pause Guardian function. Community member Humpy criticized the Multisig for blocking Proposal #618, which involved a $5 million transfer from the EPCF. The proposal satisfied all on-chain criteria and contained no malicious code. Humpy also expressed concerns about potential conflicts of interest among signers Arr00 and Cylon, who previously received advisory payments from the Compound Foundation. Previously, community member ugurmersin proposed transferring control of the EPCF from the Compound Foundation to the Community Multisig.
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