May 29, 2020 Compound publishes details on the next stages of decentralizing its protocol governance.

Robert Leshner, the founder of Compound Labs, the company behind the money market protocol, Compound, published a blog post on Wednesday that details the next steps in the project’s attempts to decentralize its governance processes. Leshner explained that  4,229,949 COMP tokens will be distributed to users of the protocol over a proposed four-year cycle. The new distribution cycle will initially require a protocol upgrade in order to initiate it, with Lesher stating that an upgrade should be proposed by the Compound team in June. In the interim, the Compound team is set to give up its ability to disable the new Compound governance functionality, meaning that governance rights will supposedly be fully transferred to COMP holders.