Compound will fix a bug and correct the distribution of COMP

The lending protocol fell victim to an attack affecting COMP token distribution after another patch in late September.

Compound Finance, a major player in the decentralized finance (DeFi) ecosystem, has announced that its patch for a bug that saw users mistakenly receive millions of dollars worth of COMP tokens will run on Saturday, October 9.

The announcement follows a proposed fix for the vulnerability that was easily passed in a vote on October 7. According to the Compound Labs team, the community pledged a total of 1,037,107 COMP tokens in favor of Proposal 64, an update that is set to introduce the bug fix.

The unanimous vote allows Compound Labs to take the next step, with most users assured that they will see a ” normal ” distribution of tokens once the fix is made.

“For the majority of users, COMP distribution will return to normal after execution,” the lending protocol tweeted.

However, users affected by the bug that followed Proposal 62 ” will not be able to claim COMP until a future patch,” the platform added, referring to the faulty distribution that hit the protocol on September 30.

While Prop 63 was intended to stem the misallocation of tokens, the delay in the patch saw millions of dollars worth of COMP tokens drained from the protocol’s pool.

Many of those who received the “free” tokens returned them to the Compound contract.

In the market, COMP’s price has recovered from a low of $293 last week and is currently trading around $329. The value of the 73rd-ranked crypto project is up 5.1% in the past 24 hours, with buyers targeting further gains.

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Given Bitcoin ‘s rise above $55,000 and the potential for the market to move further north, COMP could extend its rise to September highs of $370.