Background

Since 2023, WOOF! has worked with Compound to support the new and ongoing developments.

Full details of the proposal can be found here.

Proposal

A proposal to renew WOOF!’s 12-month engagement with Compound to support core Compound Protocol developments, addressing the evolving needs of the community, including Compound v4, staked COMP, partial liquidations, and more, while also maintaining and supporting the existing infrastructure.

Compensation Structure

The service fee structure will be a fixed annual fee of 2,000,000 USD using the COMP spot price.

COMP will be streamed via a custom solution developed by WOOF! and audited by OpenZeppelin.

Specification:

• Allocation: 53,011 COMP

• Streaming Duration: 1 year (continuously, second-by-second distribution)

• Distribution Currency: COMP, valued in USDC via Chainlink’s COMP/USDC price feed at the moment of claim.

• Claiming Cap: 2,000,000 USDC.

• Slippage Tolerance: 0.5% applied at the time of claim.

• Claim Safeguard: To protect the DAO from unfavorable claim conditions, any address may execute a claim on behalf of the stream if the last claim occurred more than 7 days ago.

• Anyone can return unclaimed COMP to the Comptroller after the end of the stream, plus a 10-day grace period.

• The stream can be canceled early via an on-chain governance vote.

• WOOF! will be able to withdraw the vested funds at any time.

More details can be found in the forum post.

By approving this proposal, you agree that any services provided by WOOF! shall be governed by the Terms of Service that were updated as of November 29, 2024.