1/6 Today we continue to plunge into the jungle of DeFi decentralized governance. Compound, which launched its governance this year, definitely deserves a mention due to its governance framework’s innovativeness and popularity. theblockcrypto.com/genesis/88681/…
2/6 Compound launched Autonomous Proposals (CAPs) for greater inclusiveness, allowing holders to delegate votes for a specific proposal, not a delegatee. Out of ten created CAPs, only three became formal proposals. In each case, this was due to support from whales. 
3/6 I also noticed the rare use of the offline signatures feature (only 15 times since launch) due to the lack of infrastructure. But everything may change shortly, as today, a convenient interface for gasless voting and delegation was presented.
https://twitter.com/Arr00c/status/1341549003834617856
4/6 In general, delegation is at the initial stage since large token holders make the final decisions. The overwhelming majority of votes for them are their own. Among the Top 10 delegates addresses, only Gauntlet has probably received a significant delegation from someone else.
5/6 Also, among these Top 10 addresses, the most active in voting and submitting new proposals are community members. Founders and investors rarely vote, perhaps to reduce the feeling of centralization.
6/ At the same time, the Compound governance framework began to be actively used in other DeFi projects. There are about 200 repositories on Github that use these smart contracts. However, sometimes it leads to tragedy…
• • •
Missing some Tweet in this thread? You can try to
force a refresh
