By Kenny S - Bitcoin Enthusiast - 03-10-2021
Compound (COMP) is a decentralised protocol backed by blockchain technology. The protocol allows users that are interested in investing in cryptocurrency to borrow crypto assets. The crypto protocol also allows users to deposit their investments into lending pools.
The COMP CEO, Robert Leshner, finds himself getting a dose of reality from the Compound community in recent news. The exchange takes place on the social media platform Twitter as the CEO tweets about a recent unfortunate event. Leshner voiced his displeasure regarding a Compound Liquidity mining incentive scheme mistake that accidentally provided users with much more COMP than anticipated.
Leshner tweeted out, stating that anyone who received a large and incorrect sum of the native cryptocurrency must immediately return it. He explained further that anyone who does follow this demand would be allowed to keep 10% of the crypto they obtained as a reward. Following this statement, the CEO added a warning that anyone who refuses to return the cryptocurrency would be reported and then doxxed.
Despite the reward and warning, the cryptocurrency trading community fought back to humble the CEO. There were many sides and opinions, all of which were very valid responses. Some laughed in the face of the company's head, stating that they do not live in the US or would rather pay the low IRS and keep the majority. Another investor came forward to say that these things happen regularly with everyday traders; if you trade crypto but have sent it to the wrong address, there's no chance of a refund. The investor further stated that just because it has happened to a large corporation or project doesn't mean they get special treatment.
The CEO has since responded with a more enlightened post, stating that he appreciated both the support and the ridicule he received for the first post. Leshner stated that he's trying to do what he can to return the money to the COMP community but understands that he went about it incorrectly.