Compound DAO used protocol reserves to buy $52M of COMP, delegates allege mandate breach

• —344,780 COMP hit the DAO reserve wallet at 09:46 UTC on May 5, 58 minutes before the snapshot
• —The wallet's votes were delegated to the Compound Foundation, which backed Proposal 582
• —Without those votes, supporters would have held 45.1% instead of 50.1%, enough for opponents to defeat the plan
• —Proposal 582 allocated $14M to a Foundation operational wallet and $38M to a Treasury Management Committee pool