A Compound community member, ugurmersin, has submitted an alternative to Proposal 613 that would shift custody of the Ecosystem Protection and Continuity Fund, or EPCF, and mainnet Chainlink SVR revenue away from a Safe controlled by the Compound Foundation and into a Community Multisig. The proposed setup uses a 5-of-9 signing structure.
The alternative does not call for shutting down the EPCF. Instead, it keeps the fund’s purpose, size, 48-month term, and emergency deployment function intact. As of Oct. 8, the proposal said the EPCF held 500,000 USDC and another 4.5834 million USDC deposited in cUSDCv3. Mainnet Chainlink SVR revenue stood at 355.95 ETH.
The proposal also references the earlier Proposal 613, which had sought to close the EPCF and move the funds into the Governor Timelock. According to the text, that proposal was canceled by the Proposal Guardian on Oct. 7.
Odaily reported that Compound community member ugurmersin has put forward an alternative to Proposal 613. The proposal would transfer custody of the Ecosystem Protection and Continuity Fund (EPCF) and mainnet Chainlink Smart Value Recapture (SVR) revenue from a Safe controlled by the Compound Foundation to a Community Multisig, using a 5-of-9 signing model.
The proposal keeps the EPCF in place
The alternative does not seek to shut down the EPCF. It would keep the fund’s purpose, size, 48-month duration, and emergency capital deployment capability unchanged.
Balances listed as of Oct. 8
As of Oct. 8, the EPCF held 500,000 USDC and 4.5834 million USDC deposited in cUSDCv3, while mainnet Chainlink SVR revenue totaled 355.95 ETH.
Original Proposal 613 was canceled
The proposal said the original Proposal 613 had aimed to close the EPCF and move the funds to the Governor Timelock. It was canceled by the Proposal Guardian on Oct. 7.
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