Compound Governance Attack! w Bryan Colligan of Alpha Growth
Leviathan News29 Heinä 2024

Compound Governance Attack! w Bryan Colligan of Alpha Growth

In a shocking turn of events, Compound Finance, one of DeFi's pioneering lending protocols, has fallen victim to what many are calling a blatant governance attack. The incident has sent shockwaves through the crypto community, raising serious questions about the vulnerabilities of decentralized autonomous organizations (DAOs) and the apparent apathy plaguing some corners of DeFi. ______________ SPONSORS Leviathan News is thrilled to welcome YieldNest as our sponsor this month! This innovative liquid restaking protocol is making waves in the DeFi space with its flagship product, ynETH. By depositing your ETH at YieldNest.com, you can potentially unlock enhanced yields through exposure to a curated basket of Actively Validated Services (AVSs). Don't let your ETH sit idle – dive into the future of yield optimization at Yield Nesttoday. https://app.yieldnest.finance/restake?ref=4ZYhFKdSh5iZMsGQaVygg59bac9Z ---------------------- Today's Guest Socials: https://x.com/bryancolligan ---------------------- Compound is one of the oldest DeFi protocols, has never experienced a hack, was the pioneer of “liquidity mining” and remains today a major lending facility with over $2bn of deposits across multiple networks. The saga unfolded over the past few days, culminating in the passage of Proposal 289 - a controversial measure that allocates a staggering 499,000 COMP tokens (worth approximately $24 million and representing 5% of the total supply) to an LSD-style liquid locker controlled by a group known as the "Golden Boys." Led by a whale investor going by the handle "Humpy," this group managed to amass enough voting power on the open market to force through their proposal, despite vocal objections from key community members and security advisors. What's particularly alarming about this situation is the brazen escalation of the attackers' demands. An initial proposal for 92,000 COMP tokens was spotted and flagged by Compound's security advisor, Michael Lewellen. Despite Lewellen's warnings, the proposal received minimal attention on the DAO forum. After this first attempt failed, Humpy audaciously increased the requested amount by 5.4x in the successful third proposal. The lack of engagement from the broader Compound community is perhaps the most concerning aspect of this debacle. Only 57 addresses participated in the crucial vote, a pitiful showing for a protocol of Compound's size and importance. This apathy extends beyond this single incident - Compound's governance forums have been eerily quiet, with most proposals originating from a single entity, Gauntlet, which is paid to manage the DAO. This governance attack isn't Humpy's first rodeo. The investor has a history of similar behavior, having been involved in contentious governance struggles with other prominent DeFi protocols like Balancer and SushiSwap. These past incidents make the current situation at Compound all the more inexcusable. The implications of this attack are far-reaching. If a single whale investor can so easily sway the governance of a major DeFi protocol, what's to stop similar or even more damaging proposals in the future? The security of user funds could be at risk if this trend continues unchecked. For now, Compound Finance finds itself at a crossroads. The protocol's reputation has taken a significant hit, and rebuilding trust will be an uphill battle. As for the wider DeFi community, this incident should serve as a wake-up call. The promise of decentralized governance can only be realized if participants remain vigilant and engaged. Otherwise, we may see more instances of brazen governance attacks that undermine the very foundations of DeFi.

Jaksot(397)

Graft-Cast! Feat. @LogarithmicRex

Graft-Cast! Feat. @LogarithmicRex

https://leviathannews.xyz/

8 Touko 1h 18min

$DOLO-might! Berachain's biggest launch yet w/ Corey Caplan

$DOLO-might! Berachain's biggest launch yet w/ Corey Caplan

Join us on Leviathan News as we welcome Corey Kaplan to discuss Dolomite's recent token launch and their journey over the past seven years. We dive into Dolomite's unique approach to product-market fit, innovative integrations like GLP from the GMX ecosystem, and the successful growth of their TVL. Corey shares insights on Dolomite's positioning as an ecosystem player, their strategic move to Berachain, and the future potential of DeFi lending markets. 00:00 Introduction and Sponsor Acknowledgment00:56 Interview with Corey Kaplan: Token Launch Success02:37 Dolomite's Unique Approach and Innovations03:50 Integration with GMX and Community Growth06:33 Expansion to Berachain and Future Plans11:56 Challenges and Achievements in the DeFi Space16:18 Dolomite's Tokenomics and Market Position21:45 Regulatory Landscape and Future of DeFi35:51 Conclusion and Final Thoughts

30 Huhti 36min

Meanwhile's Bitcoin Whole Life Insurance w Jason Leibowitz

Meanwhile's Bitcoin Whole Life Insurance w Jason Leibowitz

What if you could unlock the value of your Bitcoin without ever paying capital gains? In this episode of Leviathan News, we sit down with Jason Leibowitz from Meanwhile — the world’s first fully licensed Bitcoin-denominated life insurance company.Jason breaks down how Meanwhile works, how it uses whole life insurance to offer tax-free Bitcoin loans, and why this structure is perfect for long-term BTC holders who want exposure, liquidity, and inheritance protection without giving up control.This is the closest thing to a tax-advantaged Bitcoin IRA — but without the limitations.🔗 Learn more: https://meanwhile.bm🐦 Follow Jason: https://twitter.com/LeboBTC🐙 Leviathan News: https://twitter.com/Leviathan_News00:00 Intro — Tax Day reflections, sponsors, and BTC pain01:35 Jason Leibowitz joins to talk Meanwhile and its $40M raise04:00 What is Meanwhile? Bitcoin-denominated life insurance explained06:30 How it works — premiums, growth, death benefit, and BTC loans09:30 Jason’s background and why he joined Meanwhile12:00 Why legacy insurers can’t offer Bitcoin-native products14:50 The tax play — how policy loans help you avoid capital gains18:00 Borrowing from your own BTC policy with no margin call21:00 How Meanwhile handles custody, risk, and regulation24:00 Whole life vs. self-directed IRAs — and why this is better26:30 Who this is for — policy size, trusts, family estate planning29:00 Application process and global availability31:30 Final thoughts — growing BTC wealth without selling

16 Huhti 33min

Monero is Back for 2025... with SethforPrivacy

Monero is Back for 2025... with SethforPrivacy

Seth for Privacy joins the podcast to share news about what's been happening with Monero, he also talks about his project Cake Wallet.For Cake:Website: https://cakewallet.comCake blog: https://blog.cakewallet.comCake docs: https://docs.cakewallet.comInstall Cake Wallet: https://cakewallet.com/installCake Wallet on X: @cakewalletPersonal:Personal X: @sethforprivacyPersonal Blog: sethforprivacy.comPersonal Podcast: optoutpod.comSimple bio: Seth For Privacy is a privacy and freedom money advocate, VP of Cake Wallet, a privacy-centric self-custodial crypto wallet, and host of the Opt Out podcast.

16 Huhti 52min

Leviathan Livestream: feat. Noah Seidman

Leviathan Livestream: feat. Noah Seidman

https://levaithannews.xyz/

6 Huhti 1h 41min

Noah Seidman on the Voter Escrow Partnership

Noah Seidman on the Voter Escrow Partnership

🎙️ Guests:Noah Seidman – Legal autodidact, DeFi theoristHosts: Samuel McCulloch & Gerrit Hall📜 Description:Is your smart contract a nominee? Is Curve a partnership? Are DeFi rewards really taxable? 🤯In this mind-bending episode, Noah Seidman joins Leviathan News to unpack his Voter Escrow Partnership Manifesto — a 40+ page legal analysis arguing that DeFi’s fee distributor contracts may qualify as nominee interest accounts, with preserved tax basis and no realized income until withdrawal.We dive deep into:✅ IRS vs. Congress: Who actually makes tax law✅ IRC §7701, §61, §701–703, §731 explained✅ Common law, dominion, and the Bollinger case (1988)✅ Smart contracts as autonomous legal entities✅ How to use Form 8275 to disclose your tax position✅ Why you might already be in a partnership 👀✅ The constitutional right to interpret law✅ What happens if the IRS disagrees — and what to do next📘 Read the full Voter Escrow Partnership Memo:👉 https://leviathannews.substack.com/p/the-voter-escrow-partnershipJoin us: https://t.me/leviathan_news

6 Huhti 1h 41min

Llama Party feat. Benny Lada

Llama Party feat. Benny Lada

https://leviathannews.xyz/

4 Huhti 1h 34min

No Bribe, No CEX w/ Term Finance's Billy and Dion Chu

No Bribe, No CEX w/ Term Finance's Billy and Dion Chu

In this episode of Leviathan News, Billy and Dion from Term Finance join us to share updates from the past year. We dive into their new token launch, fixed-rate lending products, and how they're serving both pros and passive users. We also discuss the future of ETH lending, stablecoins, Circle's IPO, and why aligning protocol success with token holders matters.

3 Huhti 59min

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