Compound Labs

In June 2020, the Compound protocol was decentralized with the launch of COMP and the full transfer of control to the community through governance. As a foundational piece of decentralized finance infrastructure, Compound is designed to exist in perpetuity—open, autonomous, and available to all.

As one of the first protocols to fully decentralize, the approach was primitive and the territory was uncharted. While the community has grown and matured, it has done so without a core operational pillar—specifically, a foundation—something that has since become a standard support structure for many DeFi protocols.

Over time, the protocol has adopted critical support systems for areas like risk (via @gauntlet_xyz) and security (via @openzeppelin). However, in the absence of a foundation, consistent and clear leadership within the community has been lacking, making even routine tasks unnecessarily complex.

With the upcoming development of Compound v4 and growing engagement in the community forums, along with the progressive decentralization of the Compound ecosystem and the pullback of involvement from Compound Labs, we've seen the growing need for more consistent structure. In response, we believe it's time to explore the creation of a Compound Foundation.

A foundation, entirely separate from Labs or any other existing entity, would provide clarity and continuity—serving as a consistent leadership and coordination layer for the community. It would support key coordination functions across the community, another service provider. We've seen the benefits of this model in other ecosystems, such as the @uniswapFND.

We look forward to further discussion in the community around the idea of a Compound Foundation in the forums. Labs stands ready to assist the community, if that assistance would be helpful.

Attention: On 9/20/24 the Compound community’s Discord server was compromised.

Access has been regained and secured.

Always stay vigilant for scams and do not click any suspicious links.

🚨 URGENT: The Compound Labs website (compound[.]finance) has been compromised.

Please do not visit the website or clink any links until further notice. An update will be provided when available.

This is our final message // end of tweet. 🚨

Please avoid interacting with the compound[.]finance website until further notice.

It is part of the widespread domain compromise occurring right now. By visiting the site, or clicking any associated links, you will be putting yourself at risk. We and others are diligently working to resolve the issue.

The issue is not at the protocol level; the smart contracts have not been compromised.

We will provide further details as soon as possible, but in the meantime please avoid visiting the site.

This is our final message // end of tweet.

✅ Update: Thanks to the tenacious efforts of so many in the community, the https://t.co/oS0gZ0MNpl website is once again secure. Please always remain vigilant in clicking links to avoid phishing scams.

Make sure to restart your browser to ensure visiting the proper website. If the URL is not https://t.co/oS0gZ0MNpl, https://t.co/UnZIqPyh99 or https://t.co/odX2uvkout, it is not a Compound Labs website.