The humpy dance

Compound Finance's Proposal 289 would have moved 499,000 COMP tokens, worth about $24 million, from the protocol's treasury into the Golden Boys goldCOMP vault, a move critics called a governance attack. The proposal passed narrowly, 682,191 votes to 633,636, with only 57 addresses participating, and Humpy, the whale behind it, defended it as a way to generate yield for COMP holders. Proposal 289 and Proposal 290 were canceled on July 29 after a compromise offered Humpy a staking product, which allocates 30% of market reserves to staked COMP holders.