mc
@mcsquared
Humpy's (ongoing/alleged) governance capture of #comp is different than it was for Balancer / SushiSwap. Lending protocol governance capture has many more avenues for a catastrophic outcome for protocol *users* than an amm protocol, especially unintentional ones.
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francis🎩
@greenfarmer
This one was actually good (for Comp holders and the greater DeFi space imho). Founders/delegates/whoever has effective protocol control should be pushed into activating fee distribution if the project is ready for it. Most DeFi behemoth dapps are past ready.
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mc
@mcsquared
I dont completely buy that argument that this was all about fee capture. Do you think if comp distributed 50% of all profits to comp holders this would be less likely to happen? why?
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francis🎩
@greenfarmer
If it did distribute profits to holders, market cap would have been significantly higher, making it significantly harder to do what we just saw happen to COMP.
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mc
@mcsquared
I think thats a very optimistic take on the crypto market's pricing of revenue distribution and Compound's revenue - but - maybe you're right!
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francis🎩
@greenfarmer
The largest buyers are literally left and right curvers who DCF the shit out of this shit So most likely it would have a better impact/probability in protecting the protocol from such eventualities
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