INTRODUCTIONDecentralized finance (DeFi) aims to build an open financial system and enable token holders to vote on protocol changes. Compound, a leading DeFi lending protocol, uses the governance token COMP for on-chain voting. While COMP holders can vote directly, Compound also allows delegation where token holders assign their votes to other addresses. Delegation is intended to enhance the collective participation of the community in the governance process by letting users delegate voting ...