This proposal approves a $52M budget for the Compound V4 development program, allocated across two wallets with distinct control structures.

Upon execution, this proposal:

1. Transfers $14M to the Operational Program Wallet (Foundation-controlled) for Year 1 V4 execution.
2. Designates $38M within the TMC-managed pool as Program Reserve, subject to milestone-gated release by the TMC multisig (5-of-7).

Until V4 milestones trigger release, Program Reserve funds generate yield for the DAO through strategies approved under the Treasury Management RFP. This proposal is designed to work in concert with the Treasury Management Program; all fund controls, security parameters, and Safeguard cancellation rights described in that proposal apply to V4 reserve funds.

Full proposal details, budget breakdown, milestone framework, and service provider scope: Compound V4 Program Funding Proposal