So $Comp gives users some type of governance on the protocol. Does these controls translate to revenue?
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Potentially--e.g. COMP could vote to institute a fee on Compound and airdrop it to COMP holders
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This process is centralised though isn’t it? Smart contract would be required to be drafted out by the team. What if compound team dissolve or refuse? Is this not just defi theatre?
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I think that anyone with at least 100,000 COMP can propose smart contract changes and then all COMP holders can vote on them
(not 100% sure of that, but that's what I think)
No doubt true but I’m talking about the actual process of governance change. Voting initiates the process but the process is still implementated in a centralised manner. It feel like governance theatre is what I’m saying. 🤷♀️
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Don't think the team is necessary for any part of the process--any large holder can initiate it and submit the smart contract--but it is def reliant on the views of the largest holders a fair bit
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