Compound cancels Proposal 619 as Gauntlet targets tBTC

On October 31, 2026, Compound’s Community Multisig — acting as Proposal Guardian — cancelled Proposal 619. The Compound Forum notice records 1,908,209 COMP voting “For” and 1,092,085 COMP from 18 voters voting “Against.”

Two addresses tied to the same entity — the dCOMP delegate and humpy.eth — contributed 1,908,141 of those “For” votes, which is 99.996% of the winning side. The Proposal Guardian’s threshold requires at least 400,000 COMP in substantial opposition for a cancellation to proceed; the opposing camp cleared that bar by 692,085 COMP.

Proposal 619, had it passed, would have dismantled the safeguard built specifically to prevent a single concentrated position from pushing through the DAO. According to the Proposal Guardian, that Guardian mechanism was created after Proposal 289 to prevent a single voting position from overriding the DAO; Proposal 538 later extended the mandate through 2030.

The trigger: Threshold Network’s temporary pause of new tBTC minting, new BTC$77,538.00▲1.53% deposits, and new Bitcoin redemption requests.

The exposure sitting behind that recommendation is specific. As of 11:59 UTC on October 31, 72 accounts had supplied 101.2 tBTC — roughly $7.8 million — across six Comets, carrying $23.1 million in total debt, about $4.2 million of it attributable to tBTC. Twenty-four of those accounts held tBTC as their only collateral while running active debt positions.

Zeroing the supply cap stops new tBTC from entering those Comets. Zero borrow collateral factor means tBTC can’t back new borrowing. Accounts carrying tBTC-only collateral against live debt are the accounts most directly exposed to the adjustment.

Compound isn’t alone. Aave also froze tBTC on V3 Ethereum Core on Oct. 31, setting its LTV to zero.