Semi-Permanent Gas Saving Measures for the DAI Market
01Summary
Proposal to switch cDai implementation from CDaiDelegate to CErc20Delegate and update its interest rate model to match cUSDT to reduce gas fees. DSR remains at 0%, making the current DSR-dependent implementation unnecessary. Uses existing tested Compound contracts.
- Type
- contract upgrade
Key changes
- Change cDai implementation from CDaiDelegate to CErc20Delegate (0x976aa93ca5Aaa569109f4267589c619a097f001D)(high)
- Update cDai interest rate model to match cUSDT (0xFB564da37B41b2F6B6EDcc3e56FbF523bD9F2012)(high)
- Maintain existing interest parameters (base rate, multiplier, jump multiplier, and kink) unchanged(medium)
Notable concerns
- Interest rate model change removes DSR integration which may affect future DSR changes if implemented
Generated by Kvorum
02Description
Semi-Permanent Gas Saving Measures for the DAI Market
When the DSR (Dai Savings Rate) was introduced by MakerDAO, the Compound team developed a CDaiDelegate to take advantage of DSR (pre governance). With DSR remaining at 0% for an extended period of time, it would be advantageous for the sake of gas fees to change back to an implementation which doesn’t deposit to DSR.
I propose setting the cDai implementation to the CErc20Delegate which is already the implementation for cUSDT and setting the interest rate model for cDai to that of cUSDT. The interest rate model change is necessary because the current IRM takes DSR into account. The actual interest parameters (base rate, multiplier, jump multiplier, and kink) will remain the same.
The end result of this proposal will be gas savings for users. This proposal has been simulated on a network fork to ensure expected outcome and uses contracts which have already been part of the Compound ecosystem for a long time. For more information, please see this post on the Compound forums.
03Mismatch analysis
The proposal describes two changes: (1) switching cDai's implementation contract to the CErc20Delegate already used by cUSDT, and (2) switching cDai's interest rate model to the one used by cUSDT, while keeping the underlying rate parameters unchanged. The decoded calldata contains exactly two actions targeting the cDai contract address (0x5d3a536E4D6DbD6114cc1Ead35777bAB948E3643): a _setImplementation call pointing to 0x976aa93ca5Aaa569109f4267589c619a097f001D, and a _setInterestRateModel call pointing to 0xFB564da37B41b2F6B6EDcc3e56FbF523bD9F2012. Both addresses match exactly the addresses cited in the description as the CErc20Delegate and cUSDT's interest rate model, respectively. The _setImplementation call's boolean flag (true) and empty bytes payload are standard boilerplate for this pattern and not something the description would be expected to detail. No numeric parameters are set in this calldata (rate parameters are inherited from the new IRM contract, consistent with the description's claim that parameters remain the same). No extra, missing, or mismatched targets/values were found. Overall the description accurately and completely represents the on-chain actions.
Generated by Kvorum
04Actions
- Target
- 0x5d3a…3643
- Value
- 0 wei
- Function
- _setImplementation(address,bool,bytes)
- Arguments
{ "0": "0x976aa93ca5Aaa569109f4267589c619a097f001D", "1": true, "2": "0x" }- Calldata
- Target
- 0x5d3a…3643
- Value
- 0 wei
- Function
- _setInterestRateModel(address)
- Arguments
{ "0": "0xFB564da37B41b2F6B6EDcc3e56FbF523bD9F2012" }- Calldata
05Tally
Summed from votes
06Voters
No votes recorded yet.
07Forum
- Migrate cDai implementation from CDaiDelegate to CErc20Delegate ↗discourse · high confidence
Arguments for
- Switching cDai from CDaiDelegate to CErc20Delegate significantly reduces gas costs across all major operations (mint, redeem, borrow, repay).— arr00, dabar90
- The cDai contract was designed to gracefully migrate between DSR and non-DSR implementations, making this transition straightforward.— rleshner
- With DSR remaining at 0% for an extended period, the DSR functionality provides no benefit while imposing gas overhead.— arr00
Arguments against
None surfaced.
Unresolved concerns
- Whether there are any advantages to using a non-DSR version of cDAI specifically versus using cErc20Delegate for cDAI.— dakeshi
Notable participants
- arr00Proposal author who designed the migration, ran simulations, and deployed the CAP.
- rleshnerCore contributor who endorsed the proposal and confirmed the cDAI contract was designed for this type of migration.
- dabar90Community member who supported the proposal based on significant gas fee savings.
- dakeshiCommunity member who raised a technical clarification question about implementation alternatives.