Compound DAO spent roughly $52 million from protocol reserves to purchase 344,780 COMP tokens 58 minutes before the May 5 snapshot for Proposal 582. These tokens represented 5% of total voting power, allowing supporters to reach 50.1% of votes instead of the 45.1% they would have held otherwise. Proposal 582 passed unanimously with approximately 1.88 million votes in favor and zero opposition. The Compound Foundation claims the conversion aligned with its governance continuity mandate, while delegates allege a breach of the reserve mandate. The vote outcome is settled, but the Foundation’s authority to execute such conversions remains contested.
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