Compound Community Proposal Aims to End Community Multisig's Governance Proposal Cancellation Power on Nov 1
Bollcoin, Oct 26: Compound community member Humpy said on the governance forum that his on-chain proposal to "terminate the community multisig's cancellation power" has entered pending status. The proposal would strip the community multisig, acting as proposal guardian, of its authority to cancel governance proposals, with the expiry advanced to 08:00 Beijing time on Nov 1, while retaining its power to pause the market in emergencies. According to Humpy, the community multisig, with approval from 5 of 9 signers on Oct 22, cancelled Proposal 618 before voting began. That proposal involved transferring the $5 million Emergency Protocol Continuity Fund to community multisig management. Humpy argued that this went beyond the original intent of the cancellation power—safeguarding against malicious or technically flawed proposals—and that such a decision should be left to COMP holders to vote on.