KVORUM
compoundSource: Compound governor alpha · #24

Set WBTC Collateral Factor to 60%

executedSep 29, 2020, 09:31 PM UTCbyDB0xdb9f…1580

01Summary

AISummary by Kvorumclaude-haiku-4-5

Proposal to increase WBTC collateral factor from 40% to 60% on Compound, citing significant growth in WBTC supply (from ~$100M to ~$900M) and liquidity (from ~$1.15M to ~$230M on Uniswap) since the previous increase to 40% in July.

Type
parameter change

Key changes

  • WBTC collateral factor increased from 40% to 60%(high)

Notable concerns

  • WBTC collateral factor remains below DAI, USDC, and ETH (all at 75%)
Contracts0x3d9819210a31b4961b30ef54be2aed79b9c9cd3b
Generated by Kvorum
model: claude-haiku-4-5
provider: anthropic
profile: anthropic-fast-v1
prompt: v1.0
generated: 2mo ago
Read the description ↗

02Description

182 words

Set WBTC Collateral Factor to 60%

This change increases the Collateral Factor of WBTC from 40% to 60%.

On July 14th, proposal 16 was passed to raise WBTC's Collateral Factor from 0% to 40%. According to Defi Pulse, on July 14th there were ~$100M of WBTC in circulation. Today there are ~$900M of WBTC in circulation. In addition to having a much larger supply today, WBTC liquidity has significantly grown since proposal 16 was passed. Uniswap.info shows WBTC on July 14th with a total liquidity of ~$1.15M while today it has ~$230M.

With this starkly increased liquidity and demand, it makes sense to increase the WBTC collateral factor. Even with this proposed increase to 60%, the WBTC collateral factor would still be significantly under that of DAI, USDC, and ETH, which are each 75%.

We agree with the arguments from proposal 16 that this change would help diversify the set of assets available to borrow on Compound. Now that WBTC has proven itself as a useful asset on Compound, passing this proposal would be a significant improvement to the Compound ecosystem.

03Mismatch analysis

AIMismatch analysis by Kvorumclaude-sonnet-5
Consistent

The proposal describes a single action: raising WBTC's collateral factor from 40% to 60% on Compound's Comptroller. The decoded calldata contains exactly one action calling _setCollateralFactor on the Comptroller contract with the cWBTC market address and a value of 600000000000000000, which equals 60% in 18-decimal fixed-point notation (6e17 = 0.6). This numeric value matches the prose claim of 60% after unit conversion. There is no additional action, no unexpected target, and no omitted or extra behavior. The target address pattern (Comptroller calling _setCollateralFactor with a cToken address) is consistent with the standard Compound governance action type described. No value, target, or scope discrepancies were found between the description and the calldata behavior.

Generated by Kvorum
model: claude-sonnet-5
provider: anthropic
profile: anthropic-strong-v1
prompt: v1.0
generated: 2mo ago
Review the decoded actions ↗

04Actions

1 total
#0_setCollateralFactor(address,uint256)chain 0x1
Target
0x3d98…cd3b
Value
0 wei
Function
_setCollateralFactor(address,uint256)
Arguments
{
  "0": "0xC11b1268C1A384e55C48c2391d8d480264A3A7F4",
  "1": "600000000000000000"
}
Calldata

05Tally

Summed from votes

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VP participating0
Outcome (current)—
Current support—

06Voters

0 total

No votes recorded yet.

07Forum

No forum thread is confidently linked to this proposal.