Compound DAO Rejects Proposal to 'Revoke $13 Million Voting Rights from Special Delegates'

Foresight News reports that Compound DAO has rejected the proposal to 'revoke $13 million voting rights from special delegates,' with a 70% opposition rate. The proposal claimed that these tokens only benefited a small group of insiders, harming the broader DAO community's interests. These tokens originated from the Delegate Race program in August 2024, which aimed to enhance governance participation within Compound DAO. Starting in 2024, the program allocated 300,000 COMP (approximately $13 million) from the treasury for the Delegate Race to boost governance participation.