compoundSource: Compound governor bravo · #170
[Gauntlet] 2023-07-24 Pause supply for Compound v2 Tail Assets
executedJul 29, 2023, 01:08 PM UTCby7B0x7b3c…cc33
01Summary
AISummary by Kvorumclaude-haiku-4-5
Gauntlet proposes pausing supply for 5 Compound v2 tail assets (cAAVE, cCOMP, cLINK, cSUSHI, cUNI) to reduce protocol exposure to tail risks and minimize reserves, as these assets have minimal borrowing activity and lower liquidity.
- Type
- parameter change
Key changes
- Pause supply for cAAVE (0xe65cdB6479BaC1e22340E4E755fAE7E509EcD06c) by calling _setMintPaused(high)
- Pause supply for cCOMP (0x70e36f6BF80a52b3B46b3aF8e106CC0ed743E8e4) by calling _setMintPaused(high)
- Pause supply for cLINK (0xFAce851a4921ce59e912d19329929CE6da6EB0c7) by calling _setMintPaused(high)
- Pause supply for cSUSHI (0x4B0181102A0112A2ef11AbEE5563bb4a3176c9d7) by calling _setMintPaused(high)
- Pause supply for cUNI (0x35A18000230DA775CAc24873d00Ff85BccdeD550) by calling _setMintPaused(high)
Notable concerns
- These assets provide minimal reserves to the protocol
- Absence of supply caps in Compound v2 exposes protocol to tail risks during market downturns
- Risk of cToken/oracle price deviations and price manipulation attacks given lower liquidity
Contracts0x3d9819210a31b4961b30ef54be2aed79b9c9cd3b
Generated by Kvorum
model: claude-haiku-4-5
provider: anthropic
profile: anthropic-fast-v1
prompt: v1.0
generated: 2mo ago
02Description
179 words
[Gauntlet] 2023-07-24 Pause supply for Compound v2 Tail Assets
Simple Summary
A proposal from Gauntlet to adjust 5 parameters for 5 Compound v2 assets.
Gauntlet recommends pausing supply for the following collateral assets on Compound v2:
- cAAVE
- cCOMP
- cLINK
- cSUSHI
- cUNI
For more details, see the full forum post here.
Motivation
These collateral assets have empirically provided minimal reserves to the protocol, both in terms of users borrowing these assets and borrowing against these assets. They also expose the protocol to outsized tail risks in scenarios of market downturns, cToken/oracle price deviations, and price manipulation attacks, given lower liquidity in these tokens and the absence of supply caps in v2. Additionally, COMP, LINK, and UNI are listed as collateral assets in Ethereum Compound v3 USDC, which includes supply caps.
Full proposal and forum discussion
Specification
This proposal pauses supply of tokens through _setMintPaused in Comptroller.
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 Kvorum
A calldata-vs-description analysis is not generated yet. Review the decoded actions →
04Actions
5 total
#0_setMintPaused(address,bool)chain 0x1
- Target
- 0x3d98…cd3b
- Value
- 0 wei
- Function
- _setMintPaused(address,bool)
- Arguments
{ "0": "0xe65cdB6479BaC1e22340E4E755fAE7E509EcD06c", "1": true }- Calldata
#1_setMintPaused(address,bool)chain 0x1
- Target
- 0x3d98…cd3b
- Value
- 0 wei
- Function
- _setMintPaused(address,bool)
- Arguments
{ "0": "0x70e36f6BF80a52b3B46b3aF8e106CC0ed743E8e4", "1": true }- Calldata
#2_setMintPaused(address,bool)chain 0x1
- Target
- 0x3d98…cd3b
- Value
- 0 wei
- Function
- _setMintPaused(address,bool)
- Arguments
{ "0": "0xFAce851a4921ce59e912d19329929CE6da6EB0c7", "1": true }- Calldata
#3_setMintPaused(address,bool)chain 0x1
- Target
- 0x3d98…cd3b
- Value
- 0 wei
- Function
- _setMintPaused(address,bool)
- Arguments
{ "0": "0x4B0181102A0112A2ef11AbEE5563bb4a3176c9d7", "1": true }- Calldata
#4_setMintPaused(address,bool)chain 0x1
- Target
- 0x3d98…cd3b
- Value
- 0 wei
- Function
- _setMintPaused(address,bool)
- Arguments
{ "0": "0x35A18000230DA775CAc24873d00Ff85BccdeD550", "1": true }- Calldata
05Tally
Summed from votes
Voters0
VP participating0
Outcome (current)—
Current support—
06Voters
0 total
Filter:
| Voter | Choice | % of total | Rationale | ||
|---|---|---|---|---|---|
| EA0xea6c…3bf7 | For | 330.9K | 0.00% | — | 3y ago |
| 8D0x8d07…a265 | For | 70K | 0.00% | — | 3y ago |
| 1D0x1d29…5d1f | For | 50K | 0.00% | — | 3y ago |
| B40xb49f…7948 | For | 50K | 0.00% | — | 3y ago |
| ED0xed11…bb04 | For | 50K | 0.00% | — | 3y ago |
| 070x0703…961b | For | 50K | 0.00% | — | 3y ago |
| 130x13bd…8548 | For | 50K | 0.00% | — | 3y ago |
| DC0xdc1f…e432 | For | 50K | 0.00% | — | 3y ago |
| TEtennisbowling.eth0xc3aa…f546 | For | 47.5K | 0.00% | — | 3y ago |
| B90xb933…8dd1 | For | 27.5K | 0.00% | — | 3y ago |
| 3F0x3fb1…4c8a | For | 25.6K | 0.00% | — | 3y ago |
| 4C0x4c9f…fb01 | For | 8.2K | 0.00% | — | 3y ago |
| 660x66cd…65f9 | For | 246.7 | 0.00% | — | 3y ago |
| 840x84e3…5a95 | For | 39.6 | 0.00% | — | 3y ago |
| 9C0x9c7b…7f90 | For | 1.5 | 0.00% | — | 3y ago |
| CF0xcf8c…3620 | For | 1.1 | 0.00% | — | 3y ago |
| 010x0151…c3b9 | For | 1.1 | 0.00% | — | 3y ago |
| 760x767a…39b6 | For | 1 | 0.00% | — | 3y ago |
| 2F0x2f2f…f78a | For | 1 | 0.00% | — | 3y ago |
| E40xe459…e666 | For | 0.7 | 0.00% | — | 3y ago |
| 340x3496…126b | For | 0.3 | 0.00% | — | 3y ago |
| 3D0x3da8…f6ee | For | 0.2 | 0.00% | — | 3y ago |
| 500x50d2…5318 | For | 0.2 | 0.00% | — | 3y ago |
| B10xb160…d2f1 | For | 0.1 | 0.00% | — | 3y ago |
| D80xd828…d0b1 | For | 0.1 | 0.00% | — | 3y ago |
| 4F0x4f26…d1c5 | For | 0 | 0.00% | — | 3y ago |
| 2F0x2fe7…6f04 | For | 0 | 0.00% | — | 3y ago |
| B90xb9b9…d5d4 | For | 0 | 0.00% | — | 3y ago |
| 040x040d…07f9 | For | 0 | 0.00% | — | 3y ago |
Showing 29
07Forum
- [Gauntlet] Recommendations: Compound v2 - Pausing Supply for cAAVE, cCOMP, cLINK, cSUSHI, and cUNI (7/15/23) ↗discourse · high confidence
AIForum synthesis by Kvorumclaude-haiku-4-5
sentiment · favorablethread · constructive
Arguments for
- The targeted assets generate minimal reserves (less than 2% combined) relative to their risk exposure, making them poor risk-reward tradeoffs for the protocol.— Gauntlet, dvf
- Pausing supply eliminates tail risks from market downturns, cToken/oracle price deviations, and price manipulation attacks that have historically affected Compound v2.— Gauntlet, cylon
- These assets show stagnant or declining supply on Compound v2 while users have migrated to Compound v3, indicating minimal demand disruption from pausing.— Gauntlet, Michigan_Blockchain, PGov
- COMP, LINK, and UNI are already offered as collateral in Compound v3 with supply caps, providing users alternative venues and reducing v2's necessity to keep them.— Gauntlet
- Thin liquidity for these assets on centralized exchanges amplifies manipulation and market downturn risks on Compound v2.— Michigan_Blockchain
Arguments against
None surfaced.
Notable participants
- GauntletProposer; conducted empirical analysis of reserve generation and risk exposure for the targeted assets.
- Michigan_BlockchainEarly supporter citing market risk mitigation and noting thin liquidity of COMP on centralized exchanges.
- PGovSupporter framing the proposal as a logical risk mitigation step with minimal disruption.
- dvfSupporter emphasizing poor risk-reward ratio of maintaining the assets.
- cylonOpenZeppelin representative noting official neutrality while acknowledging security benefits from reducing oracle and liquidity risks.
Generated by Kvorum
model: claude-haiku-4-5
provider: anthropic
profile: anthropic-fast-v1
prompt: v1.0
generated: 2mo ago
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