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Compound Community’s ENS Proposal Fails to Meet Required Votes

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On February 16, according to the governance page, the proposal of the Compound community to deploy the initial ENS sub-domain for the Comet market has not been…

Compound Communitys ENS Proposal Fails to Meet Required Votes

On February 16, according to the governance page, the proposal of the Compound community to deploy the initial ENS sub-domain for the Comet market has not been voted through recently. Although the support rate of the proposal reached 100%, there were only 273484 votes, which did not reach the required number of 400000 votes, so it was not adopted.

The proposal of the Compound community to initialize the ENS sub-domain for the Comet market deployment was not passed

Interpretation of the news:


The recent governance page update on February 16 revealed that the Compound community failed to deploy the initial ENS sub-domain for the Comet market due to the proposal’s inability to meet the required number of votes. The proposal received a 100% support rate but only garnered 273484 votes, which fell short of the expected 400000 votes for adoption.

The proposal’s failure to meet the voting threshold is significant because the ENS sub-domain plays a crucial role in the Compound community’s growth and expansion plans. The ENS (Ethereum Name Service) is a decentralized domain name system that operates on the Ethereum blockchain, making it easier for users to send and receive payments through human-readable addresses instead of lengthy wallet addresses.

The initial sub-domain for the Comet market would have enabled users to directly access the Compound market by simply typing in “comet.market” instead of the current complex address used. This ease of access would have resulted in increased user adoption and better market liquidity for the Compound platform.

However, the inability to meet the required number of votes for adoption suggests that there may be lackluster community engagement and participation in Compound governance. The Compound community comprises users who can propose and vote on changes to the network, but this recent development shows that not enough users are actively engaging in the process.

On the other hand, it could also indicate that the voting process for governance proposals may need adjustments to make it more accessible and user-friendly, facilitating higher participation rates. A thorough review of the governance system may be necessary to ensure that the community’s interests are adequately represented and that community-led initiatives can be effectively adopted.

In conclusion, the Compound community’s ENS sub-domain proposal for the Comet market has failed to meet the required number of votes for adoption. The development reveals a possible lack of community engagement and the need for a more user-friendly governance system. Compound’s growth and expansion plan may be impacted by this development, and the community must work on improving participation in governance processes to ensure the proper representation of interests.

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