[MGC Decision] COMP-63 & COMP-64

The Index Coop Meta-Governance Committee has voted AGAINST (3 Against, 1 For, 1 abstain) [COMP-63], to “temporarily disable COMP rewards".
This proposal was created in order to stop draining of COMP rewards introduced through a bug in COMP-62. However, the proposed solution introduces another drawback as it bricks other protocols/money legos integrated smart contracts (e.g. Yearn).

*Update: The Index Coop’s MCG has voted unanimously FOR [COMP-64] to “fix the COMP Accrual Bug”.

Link to the snapshot page below:

COMP-63 Snapshot

COMP-64 Snapshot

*edited October 5th


Thanks @Lavi. As this wasn’t an unanimous decision, would love to understand what’s the argument/points or at least the crux of each for/against/abstain. :sweat_smile: thanks & cheers~

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Hey @pujimak_in thanks for the question and sure, happy to elaborate on the decision process. I can’t speak for the other MGC members, I don’t know everything that went into everybody’s decision-making, but I can reflect on how I understood the arguments.
FOR: Support COMP in what they think is the best solution to immediately solve this problem, even though downstream consequences are not great.
ABSTAIN: This is a choice between a rock and a hard place. NO means draining of COMP rewards continues, YES means draining stops but has potential negative effects on other protocols, unknown in their extent.
AGAINST: The risk of downstream issues increasing the problematic situation is too high, as it has many unknowns. Many concerns were raised in the Compound forum, also from other underlying’s of DPI (e.g. Yearn). Plus COMP rewards were drained almost to the max anyway, so not much more to save left. Hence, a NO is the smaller risk.

FYI: The group also anticipated a new proposal to improve the solution. Which has already happened with COMP-64 being live.