Meta Governance - October 4-18

Meta Governance BiWeekly Updates.

Today, we are starting a new setup for the Meta Governance section!
From now on, all proposals will be reported on the same post on a Weekly/Biweekly Basis.
It will make it more comprehensive and easy to digest than the latter.
So let’s dig in on what has happened with the DAO’s this weeks!
Here you have the recap:

Compound [Forum] [Gov] [Newsletter]
Passed proposal 62 [link], which introduced a bug into the Comptroller contract that allowed users in certain markets to accrue and claim far more COMP.

The end result of the bug is that 163k COMP were returned to the community Timelock, 130k COMP remained in the Comptroller, which could have been incorrectly claimed, and ~200k misallocated COMP are currently outstanding.

Now it seems to be fixed as Proposal 63 to Temporary disable COMP rewards [link] was cancelled because it would have reverted transactions and broken several third-party integrations that rely on the claim function.

Proposal 64 to Fix COMP Accrual Bug [link] Passed successfully and Proposal 65 [link] to correct over-accrued COMP is now up for voting.

The total cost has been of more than $60 Million for the Compound Protocol, becoming the single largest loss of funds in DeFi history.

Indexed Finance [Forum]
Also suffered an exploit and lost 16M on their DEFI5 and CC10 indexes, but things seem that could turn around… The crypto community has joined efforts once again and as of today we know that the funds are still here [link] and the exploiter identity has been discovered.

Post Mortem.[link]

Hackers “manifesto” [link]

Yearn Finance [Forum] [Gov] [Newsletter]

Has proposed a new Curve Factory Pool consisting on yveCRV/ibBOOST/ CRV [link]
“Since Convex launched in May, the voting power of Yearn has dropped significantly to sub 7% and yveCRV dramatically lost its peg, trading at a 60% ‘discount’.

As a significant amount of the Yearn strategies currently uses Curve to generate yield, it is important to sustain a decent amount of voting power (veCRV) for the long-term.

This Proposal aims to restore the yveCRV:CRV peg and even incentivizes people to mint new yveCRV, which would mean Yearn would own a bigger part of the veCRV pie again.”

Also has been proposed a call for ideas to revamp the Tokenomics. [link]

Aave [Forum] [Gov] [Newsletter]
Adjusted 26 Risk Parameters from the following Assets.

AIP 39 [link]

Parameter Current Value Recommended Value
WETH Loan To Value 80% 82.5%
CRV Loan To Value 40% 35%
ENJ Loan To Value 50% 55%
ENJ Liquidation Threshold 60% 65%
MANA Loan To Value 60% 65%
MANA Liquidation Threshold 65% 70%
UNI Loan To Value 60% 50%
YFI Loan To Value 45% 50%
YFI Liquidation Threshold 60% 65%
YFI Liquidation Bonus 10% 8%
ZRX Loan To Value 60% 65%
XSUSHI Loan To Value 35% 30%
USDC Liquidation Bonus 5% 4%

AIP 40. [link]

Parameter Current Value Recommended Value
REN Loan To Value 55% 50%
SNX Loan To Value 20% 30%
SNX Liquidation Threshold 45.0% 55.0%
DPI Loan To Value 60% 55%
UNI Loan To Value 60% 55%
UNI Liquidation Bonus 10.0% 8.0%
YFI Loan To Value 45% 50%
BAL Liquidation Bonus 10.0% 8.0%
LINK Liquidation Bonus 10.0% 7.5%
BAT Liquidation Threshold 75.0% 80.0%
ENJ Liquidation Threshold 60.0% 65.0%
MANA Liquidation Threshold 65.0% 75.0%

MakerDAO [Forum] [Gov]

“The Future of MakerDAO” x Bankless. With Rune Christensen Maker Founder. [link]

Offboarded unprofitable legacy vaults [link]

Onboarded Societe Generale Bonds with $40M in notional value. [link] [break down]

Voting on adding Curve stETH/ETH pool as collateral [link]

Voting on eliminating stablecoin trading fees [link] to improve DAI peg stability. [link]

Onboarding application for $OHM / OlympusDAO as collateral [link]

Voting Nexo Institutional Vault [link] [economics]

That’s all! Thank you for reading and i’ll appreciate some feedback or ways to improve the Meta-Gov section.