compoundSource: Compound governor bravo · #123
Risk Parameter Changes for FEI
executedSep 8, 2022, 05:05 AM UTCby680x683a…6c02
01Summary
AISummary by Kvorumclaude-haiku-4-5
Proposal to wind down the FEI market on Compound by pausing FEI borrowing and setting the reserve factor to 99%, in response to Tribe DAO's decision to enter a terminal state.
- Type
- parameter change
Key changes
- Pause FEI borrowing on Compound by calling _setBorrowPaused on the Comptroller contract(high)
- Set cFEI reserve factor to 99% by calling _setReserveFactor on the cFEI contract(high)
Notable concerns
- FEI market deprecation may impact users with existing FEI positions
- High reserve factor of 99% will significantly reduce incentives for suppliers
ContractscFEI (0x7713dd9ca933848f6819f38b8352d9a15ea73f67)Comptroller (0x3d9819210a31b4961b30ef54be2aed79b9c9cd3b)
Generated by Kvorum
model: claude-haiku-4-5
provider: anthropic
profile: anthropic-fast-v1
prompt: v1.0
generated: 2mo ago
02Description
139 words
Risk Parameter Changes for FEI
Simple Summary
A proposal to adjust risk parameters for FEI as follows:
- Pause FEI borrowing.
- Set reserve factor to 99%.
Background
Details are provided in the governance forum posts regarding FEI.
Motivation
In light of Tribe DAO’s proposal to enter a terminal state, the FEI market on Compound should be deprecated. Pausing FEI borrowing and setting a high reserve factor is the first step in winding down the FEI market.
Specification
- Sets the cFEI reserve factor to 99% by calling
_setReserveFactoron the cFEI contract - Pauses borrowing on cFEI by calling
_setBorrowPausedon theComptrollercontract, passing the cFEI address and true
By approving this proposal, you agree that any services provided by Gauntlet shall be governed by the terms of service available at gauntlet.network/tos.
03Mismatch analysis
AIMismatch analysis by Kvorumclaude-sonnet-5
Consistent
The proposal describes two actions: pausing FEI borrowing and setting the cFEI reserve factor to 99%. The decoded calldata contains exactly two actions matching these: action 0 calls _setReserveFactor with 990000000000000000 (0.99e18 = 99%, consistent with the stated percentage), and action 1 calls _setBorrowPaused on the Comptroller passing the cFEI address and true, matching the described pause. Target addresses in both actions correspond to the cFEI token contract and the Comptroller respectively, consistent with the specification. No extra, omitted, or mismatched values were found. The proposal description accurately and completely reflects the on-chain actions.
Generated by Kvorum
model: claude-sonnet-5
provider: anthropic
profile: anthropic-strong-v1
prompt: v1.0
generated: 2mo ago
04Actions
2 total
#0_setReserveFactor(uint256)chain 0x1
- Target
- 0x7713…3f67
- Value
- 0 wei
- Function
- _setReserveFactor(uint256)
- Arguments
{ "0": "990000000000000000" }- Calldata
#1_setBorrowPaused(address,bool)chain 0x1
- Target
- 0x3d98…cd3b
- Value
- 0 wei
- Function
- _setBorrowPaused(address,bool)
- Arguments
{ "0": "0x7713DD9Ca933848F6819F38B8352D9A15EA73F67", "1": true }- Calldata
05Tally
Summed from votes
Against0.0%0
For100.0%1.1M
Abstain0.0%0.2
Voters238
VP participating1.1M
Outcome (current)For
Current support100%
06Voters
238 total
Filter:
| Voter | Choice | % of total | Rationale | ||
|---|---|---|---|---|---|
| EA0xea6c…3bf7 | For | 306.1K | 29.10% | — | 4y ago |
| 680x683a…6c02 | For | 118.5K | 11.26% | — | 4y ago |
| 540x54a3…e189 | For | 87.6K | 8.32% | — | 4y ago |
| 8D0x8d07…a265 | For | 70K | 6.65% | — | 4y ago |
| 1D0x1d29…5d1f | For | 50K | 4.75% | — | 4y ago |
| 130x13bd…8548 | For | 50K | 4.75% | — | 4y ago |
| 7A0x7ae1…e585 | For | 50K | 4.75% | — | 4y ago |
| ED0xed11…bb04 | For | 50K | 4.75% | — | 4y ago |
| B70xb777…e1a5 | For | 50K | 4.75% | — | 4y ago |
| B40xb49f…7948 | For | 50K | 4.75% | — | 4y ago |
| DC0xdc1f…e432 | For | 50K | 4.75% | — | 4y ago |
| 070x0703…961b | For | 50K | 4.75% | — | 4y ago |
| 2F0x2f84…cc66 | For | 35.7K | 3.40% | — | 4y ago |
| 0A0x0a09…b92e | For | 15K | 1.43% | — | 4y ago |
| 580x589c…9a4d | For | 9K | 0.86% | — | 4y ago |
| TEtennisbowling.eth0xc3aa…f546 | For | 5K | 0.48% | — | 4y ago |
| DAdakeshi.eth0xe3c9…6b21 | For | 5K | 0.48% | — | 4y ago |
| 880x88fb…3981 | For | 69.9 | 0.01% | — | 4y ago |
| 660x66cd…65f9 | For | 23.3 | 0.00% | — | 4y ago |
| 840x84e3…5a95 | For | 22.6 | 0.00% | — | 4y ago |
| 310x31ce…10fa | For | 5.8 | 0.00% | — | 4y ago |
| F60xf6d7…cddd | For | 4.1 | 0.00% | — | 4y ago |
| 7B0x7b0b…abde | For | 2.6 | 0.00% | — | 4y ago |
| 0C0x0c0b…ac20 | For | 1.2 | 0.00% | — | 4y ago |
| D00xd0ac…03c7 | For | 1 | 0.00% | — | 4y ago |
| B60xb656…bb59 | For | 1 | 0.00% | — | 4y ago |
| 710x7152…13ff | For | 1 | 0.00% | — | 4y ago |
| B30xb34d…f3b0 | For | 0.7 | 0.00% | — | 4y ago |
| 1A0x1ac8…aa8a | For | 0.5 | 0.00% | — | 4y ago |
| CD0xcd5c…77aa | For | 0.5 | 0.00% | — | 4y ago |
| DE0xde88…a34a | For | 0.5 | 0.00% | — | 4y ago |
| 120x12cd…ee63 | For | 0.5 | 0.00% | — | 4y ago |
| 5D0x5d0b…1859 | For | 0.5 | 0.00% | — | 4y ago |
| 820x82f0…93c1 | For | 0.5 | 0.00% | — | 4y ago |
| 270x2769…ade3 | For | 0.5 | 0.00% | — | 4y ago |
| 930x939b…a408 | For | 0.5 | 0.00% | — | 4y ago |
| 610x61c4…2489 | For | 0.5 | 0.00% | — | 4y ago |
| 5C0x5cfc…5fc6 | For | 0.5 | 0.00% | — | 4y ago |
| BC0xbcc7…dd01 | For | 0.5 | 0.00% | — | 4y ago |
| BB0xbb7b…ee83 | For | 0.5 | 0.00% | — | 4y ago |
| F20xf20b…3724 | For | 0.5 | 0.00% | — | 4y ago |
| 300x3001…c262 | For | 0.3 | 0.00% | — | 4y ago |
| 5A0x5abf…d2e7 | For | 0.3 | 0.00% | — | 4y ago |
| 420x4270…1cf8 | For | 0.3 | 0.00% | — | 4y ago |
| 9A0x9a84…5601 | For | 0.3 | 0.00% | — | 4y ago |
| 260x2658…020e | For | 0.3 | 0.00% | — | 4y ago |
| 730x7306…c011 | For | 0.3 | 0.00% | — | 4y ago |
| EC0xec60…5c2d | For | 0.2 | 0.00% | — | 4y ago |
| A00xa0d3…d1fc | For | 0.2 | 0.00% | — | 4y ago |
| 530x534e…0799 | For | 0.2 | 0.00% | — | 4y ago |
Showing 50
07Forum
- Deprecate FEI Market ↗discourse · high confidence
AIForum synthesis by Kvorumclaude-sonnet-5
sentiment · favorablethread · constructive
Arguments for
- Since Fei Protocol is winding down, Compound should proactively deprecate the cFEI market by pausing borrowing/supplying and raising the reserve factor to ensure an orderly exit.— monet-supply, pauljlei
- Splitting the deprecation into two phases (pause borrowing first, then later pause supplying and set reserve factor to 100%) gives borrowers adequate notice before facing forced liquidation.— rleshner, monet-supply
- Gauntlet supports the wind-down given that market utilization has already reached 100%.— pauljlei
- Delaying the supply freeze until part 2 would let liquidity-constrained users withdraw sooner while risk-tolerant suppliers capture high APY, and would simplify Morpho's FEI wind down since Morpho borrowers sometimes trigger supplies on Compound.— PaulFrambot
- Moving quickly to set the reserve factor to 100% would let remaining lenders like Volt Protocol exit and consolidate lending activity into the DAI market.— OneTrueKirk
Arguments against
None surfaced.
Unresolved concerns
- Whether the reserves accumulated in the FEI market should be withdrawn and transferred to another market once no longer needed to cover bad debt was raised but not explicitly confirmed as resolved in discussion (though later reserves were reportedly withdrawn).— rleshner
- Uncertainty over how long to wait between phase 1 and phase 2 (30 days suggested) before forcing closure of remaining borrows via 100% reserve factor.— monet-supply, OneTrueKirk
- Concern that remaining borrow positions after weeks of high interest charges may represent forgotten or abandoned accounts rather than active users, raising the question of how to handle them.— OneTrueKirk
Notable participants
- monet-supplyProposer of the FEI market deprecation plan and coordinator who refined the phased approach based on community feedback.
- rleshnerRaised technical considerations about liquidation risk and reserve withdrawal when deprecating a market.
- PaulFrambotSuggested delaying the supply freeze to part 2 to ease liquidity constraints and simplify Morpho's exposure to FEI.
- pauljleiRepresented Gauntlet, expressed support for the proposal, and submitted the on-chain proposals.
- OneTrueKirkRepresented Volt Protocol as the largest remaining lender, repeatedly pushed for timely execution of the reserve factor change and final deprecation.
Generated by Kvorum
model: claude-sonnet-5
provider: anthropic
profile: anthropic-strong-v1
prompt: v1.0
generated: 2mo ago
08Similar proposals
AI · embeddings
- compoundexecutedRisk Parameter Changes for FEI: Part 295%
- aaveexecutedFEI Risk Parameter Updates for Ethereum Aave v2 Market79%
- compoundexecutedAdd Market: FEI71%
- aaveexecutedFEI Reserve Factor Update69%
- aaveexecutedEnable FEI as Collateral on Aave V268%
- aaveexecutedRevert ENJ Parameter Changes and Enable FEI as Collateral on Aave V267%
- aavecanceledAdd FEI to Aave V262%
- aaveexecutedAdd FEI to Aave V261%