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The native token of decentralized finance (DeFi) protocol Compound (COMP) has surged by more than 50% in four days following a spike in volume and outflows on Binance. One wallet deposited $3.5 million worth of USDT and withdrew $7.76 million in Compound's COMP tokens this week, indicating steady accumulation of the DeFi token. The recent rally in COMP follows a period of low volatility trading in the crypto market, with several altcoins posting double-digit gains. The article also mentions the CFTC commissioner's optimism towards spot bitcoin ETFs and the recent increase in Ethereum's average gas fees.The Klaytn Foundation, a key developer and maintainer of the Klaytn blockchain, is making changes to the network's governance system and token model. The Foundation will aid the transition to a wholly permissionless validator structure, provide opportunities for the general public to participate as block validators, and introduce a communication channel for community members to participate in decision-making processes. These changes are expected to enhance Klaytn's technical capabilities, revenue sustainability, and decentralization aspects, making KLAY more valuable. The Foundation will work alongside the Klaytn Governance Council (GC) to make these changes, with the GC having expanded decision-making authority over the Klaytn blockchain business. The Foundation will also strengthen governance transparency by disclosing GC voting agendas and statuses in real-time through Klaytn Square. These measures aim to prevent governance dramas like those seen in recent weeks, where decentralized exchange Uniswap faced contention among community members over allegedly skewed voting rights. The Klaytn Foundation will present a revamped tokenomics proposal to the GC starting Monday, including a proposal for handling uncirculated KLAY tokens in response to community feedback. Finalized agendas and proposals will be made public on February 28 alongside a technical roadmap for 2023.
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