Compound Proposal Would End Multisig Power to Cancel Governance Proposals

A pending Compound governance proposal would end Community Multisig’s authority as Proposal Guardian to cancel governance proposals on Nov. 1, following its cancellation of a proposed $5 million fund transfer.

Community member Humpy submitted the measure. Community Multisig would retain its separate Pause Guardian authority to pause markets.

On Oct. 22, five of the multisig’s nine signers canceled Proposal 618 before voting began. The proposal sought to transfer $5 million from the Emergency Protocol Continuity Fund.

Humpy said Proposal 618 met all on-chain requirements and contained no malicious code. Humpy argued the guardian authority was intended to block malicious proposals and alleged that signers Arr00 and Cylon had received consulting fees from the Compound Foundation, creating a conflict of interest.

The proposed change is scheduled to take effect Nov. 1.