The lending protocol was affected by a security vulnerability in the distribution of COMP tOkens after another patch at the end of September
Compound Finance, a major player in the decentralized finance ecosystem (DeFi), has announced that the resolution of a bug that caused users to mistakenly receive COMP tOkens worth millions of dollars will be carried out on Saturday, October 9.
This after a proposal to address the vulnerability was easily adopted in a vote on October 7. According to the Compound Labs team, the community has a total of 1,037,107 COMP tOkens for Proposal 64, an upgrade to fix the error.
The unanimous vote allows Compound Labs to take the next step, with most users assured that they will experience a “normal” token distribution after the patch.
“For the majority of users, COMP distribution will return to normal after execution”, tweeted the credit log.
Users affected by the error that followed proposal 62 may: COMP only after a future patch”, added the platform and related to on the erroneous distribution that the protocol met on September 30.
While Proposal 63 aimed to curb the erroneous allocation of tokens, the delay in executing the patch resulted in millions of dollars of COMP tOkens being withdrawn from the protocol’s reservoir.
Many of those who received the “FREE” marks returned them to the compound contract.
In the market, the price of COMP has recovered from last week’s lows at $293 and is currently trading around $329. The value of the 73rd-ranked crypto project has increased by 5.1% in the last 24 hours as buyers seek further profits.
Given Bitcoin’s rise above $55,000 and the potential for the market to move further north, the COMP could continue its upward trend, reaching September highs of $370.