Compound V2 Users Face Nov. 10 Legacy COMP Claim Deadline

5 p.m. ET on Nov. 10, 2026 is the deadline for Compound V2 users on Ethereum to claim legacy $COMP rewards, the Compound Foundation said. Unclaimed tokens will return to the Compound treasury after the claim window closes.

The deadline applies to rewards users have already earned under V2. It does not apply to lending deposits. To claim, a user must connect the same wallet used on V2 through either Compound’s rewards page or the Merkl rewards platform. Moving a lending or borrowing position is not required.

Which rewards face the cutoff?

The cutoff separates a legacy reward claim from the continuing use of a V2 position. A user with accrued $COMP can follow the claim process now without moving the lending or borrowing position that sits alongside those rewards.

The deadline applies to previously earned V2 rewards. Lending deposits are excluded. A depositor does not need to submit a reward claim under this window.

The distinction keeps two forms of participation separate. Earning a reward concerns a prior allocation of $COMP. Lending or borrowing concerns the current position, and this deadline does not turn either activity into a reward claim.

The same-wallet rule directs each claimant back to the wallet used on V2. A different wallet does not meet the stated requirement.

Merkl now hosts the legacy reward distribution because Compound moved it there. Before that migration, users could claim accrued rewards at any time through Compound’s interface or its reward contracts. The new arrangement adds an end date to that open-ended access.

Where can users claim?

Compound lists two routes for the claim. The first is its rewards page. The second is the Merkl rewards platform. Users can access earned rewards through either route, as long as they connect the original V2 wallet and follow the instructions for that claim.

Neither route requires a user to move a lending or borrowing position. Reward claiming and position management remain separate. Users who only need to collect already earned $COMP can leave their lending or borrowing position unchanged.

That separation matters for users checking a wallet before the deadline. They can focus on the reward allocation tied to that wallet, rather than treating a position transfer as part of the claim.

Where do unclaimed tokens go?

After the window closes, Compound’s Treasury Management Committee, acting as distributor administrator, returns any unclaimed $COMP to the Treasury Timelock under the revised distribution terms. Users do not need to send tokens back themselves.

The committee administers the return rather than asking each wallet holder to transfer tokens manually. That makes the deadline an allocation cutoff, not a request for a reverse transaction from users.

Any $COMP that accrued but remains unclaimed by the cutoff falls into that category. The notice specifies the committee and the timelock as the administrator and destination for those tokens.

What does this change for V2 users?

The practical change is procedural. Compound has replaced the prior ability to claim accrued rewards at any time with a dated window for legacy V2 distributions handled through Merkl.

V2 users who earned rewards should verify their original wallet and complete the claim before 5 p.m. ET on Nov. 10, 2026. Lending and borrowing positions do not need to move. If a claim remains unclaimed, the process will send it to the Treasury Timelock after the window closes.

After 5 p.m. ET on Nov. 10, 2026, the committee can complete the return of any unclaimed $COMP to the Treasury Timelock.