A new proposal on the Compound community forum seeks to transfer custody of the Ecosystem Protection and Continuity Fund (EPCF) and Chainlink SVR revenue to a 5-of-9 community multisig. This alternative follows the cancellation of Proposal 613, advocating for updated security controls rather than shutting down the fund entirely.
The plan would move approximately 5.08 million USDC and 356 ETH from a Safe controlled solely by the Compound Foundation to the new multisig structure. The proposal highlights that current custody relies on two private keys held by a single entity without cooldown periods or checks-and-balances, while also citing on-chain data questioning previous foundation transfers of V2 reserve COMP.
Under this arrangement, the purpose, size, and 48-month term of the EPCF remain unchanged. The shift focuses exclusively on decentralizing custody to address security concerns identified after the Proposal Guardian's recent intervention.
Compound Community Proposes Multisig Custody for EPCF and SVR Funds
Disclaimer: The content provided on Phemex News is for informational purposes only. We do not guarantee the quality, accuracy, or completeness of the information sourced from third-party articles. The content on this page does not constitute financial or investment advice. We strongly encourage you to conduct you own research and consult with a qualified financial advisor before making any investment decisions.
