KVORUM
compoundSource: Compound governor bravo · #193

[Gauntlet] 2023-11-13: Compound v2 Deprecation (Phase 4)

executedNov 18, 2023, 09:50 AM UTCby680x683a…6c02

01Summary

AISummary by Kvorumclaude-haiku-4-5

Gauntlet proposes Phase 4 of Compound v2 deprecation by reducing collateral factors for 7 assets (AAVE, COMP, LINK, MKR, SUSHI, YFI, ZRX) by 5 percentage points each, consistent with community-approved deprecation strategy.

Type
parameter change

Key changes

  • AAVE collateral factor decreased from 63% to 58%(medium)
  • COMP collateral factor decreased from 50% to 45%(medium)
  • LINK collateral factor decreased from 69% to 64%(medium)
  • MKR collateral factor decreased from 63% to 58%(medium)
  • SUSHI collateral factor decreased from 57% to 52%(medium)
  • YFI collateral factor decreased from 65% to 60%(medium)
  • ZRX collateral factor decreased from 55% to 50%(medium)

Notable concerns

  • Reduced collateral factors will decrease borrowing capacity for users holding these assets as collateral on Compound v2
Contracts0x3d9819210a31b4961b30ef54be2aed79b9c9cd3b0xe65cdB6479BaC1e22340E4E755fAE7E509EcD06c0x70e36f6BF80a52b3B46b3aF8e106CC0ed743E8e40xFAce851a4921ce59e912d19329929CE6da6EB0c70x95b4eF2869eBD94BEb4eEE400a99824BF5DC325b0x4B0181102A0112A2ef11AbEE5563bb4a3176c9d70x80a2AE356fc9ef4305676f7a3E2Ed04e12C339460xB3319f5D18Bc0D84dD1b4825Dcde5d5f7266d407
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model: claude-haiku-4-5
provider: anthropic
profile: anthropic-fast-v1
prompt: v1.0
generated: 2mo ago
Read the description ↗

02Description

203 words

[Gauntlet] 2023-11-13: Compound v2 Deprecation (Phase 4)

Simple Summary

A proposal from Gauntlet to adjust 7 Compound v2 risk parameters for Phase 4 of the Compound v2 Deprecation.

Gauntlet recommends the following changes:

  • Decrease AAVE Collateral Factor from 63% to 58%
  • Decrease COMP Collateral Factor from 50% to 45%
  • Decrease LINK Collateral Factor from 69% to 64%
  • Decrease MKR Collateral Factor from 63% to 58%
  • Decrease SUSHI Collateral Factor from 57% to 52%
  • Decrease YFI Collateral Factor from 65% to 60%
  • Decrease ZRX Collateral Factor from 55% to 50%

For more details, see the full forum post here.

Motivation

In this September 2022 snapshot vote, the community voted that each asset’s Collateral Factor may be reduced by an absolute percentage of up to 5%. After our analysis, Gauntlet recommends this max 5% decrease for each lowly supplied collateral asset in order to further deprecate the v2 market.

Full proposal and forum discussion

Specification

The proposal updates the parameters using the _setCollateralFactor methods of the relevant cToken contracts.

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

I mapped each of the 7 decoded _setCollateralFactor calls to its target cToken address and confirmed each address corresponds to the correct Compound v2 market (cAAVE, cCOMP, cLINK, cMKR, cSUSHI, cYFI, cZRX) as claimed in the description. I then converted each 18-decimal fixed-point value to a percentage: 580000000000000000=58%, 450000000000000000=45%, 640000000000000000=64%, 580000000000000000=58%, 520000000000000000=52%, 600000000000000000=60%, 500000000000000000=50%. Every converted value exactly matches the target percentage stated in the description for each respective asset, and the direction (decrease) and magnitude (5 percentage points per asset, consistent with the cited 5% max reduction snapshot vote) also match. All calls target the same Comptroller/Unitroller address, consistent with a single governance proposal adjusting multiple markets via the same contract. No extra actions, omissions, or value mismatches were found. The description and calldata are fully aligned.

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

04Actions

7 total
#0_setCollateralFactor(address,uint256)chain 0x1
Target
0x3d98…cd3b
Value
0 wei
Function
_setCollateralFactor(address,uint256)
Arguments
{
  "0": "0xe65cdB6479BaC1e22340E4E755fAE7E509EcD06c",
  "1": "580000000000000000"
}
Calldata
#1_setCollateralFactor(address,uint256)chain 0x1
Target
0x3d98…cd3b
Value
0 wei
Function
_setCollateralFactor(address,uint256)
Arguments
{
  "0": "0x70e36f6BF80a52b3B46b3aF8e106CC0ed743E8e4",
  "1": "450000000000000000"
}
Calldata
#2_setCollateralFactor(address,uint256)chain 0x1
Target
0x3d98…cd3b
Value
0 wei
Function
_setCollateralFactor(address,uint256)
Arguments
{
  "0": "0xFAce851a4921ce59e912d19329929CE6da6EB0c7",
  "1": "640000000000000000"
}
Calldata
#3_setCollateralFactor(address,uint256)chain 0x1
Target
0x3d98…cd3b
Value
0 wei
Function
_setCollateralFactor(address,uint256)
Arguments
{
  "0": "0x95b4eF2869eBD94BEb4eEE400a99824BF5DC325b",
  "1": "580000000000000000"
}
Calldata
#4_setCollateralFactor(address,uint256)chain 0x1
Target
0x3d98…cd3b
Value
0 wei
Function
_setCollateralFactor(address,uint256)
Arguments
{
  "0": "0x4B0181102A0112A2ef11AbEE5563bb4a3176c9d7",
  "1": "520000000000000000"
}
Calldata
#5_setCollateralFactor(address,uint256)chain 0x1
Target
0x3d98…cd3b
Value
0 wei
Function
_setCollateralFactor(address,uint256)
Arguments
{
  "0": "0x80a2AE356fc9ef4305676f7a3E2Ed04e12C33946",
  "1": "600000000000000000"
}
Calldata
#6_setCollateralFactor(address,uint256)chain 0x1
Target
0x3d98…cd3b
Value
0 wei
Function
_setCollateralFactor(address,uint256)
Arguments
{
  "0": "0xB3319f5D18Bc0D84dD1b4825Dcde5d5f7266d407",
  "1": "500000000000000000"
}
Calldata

05Tally

Summed from votes

Voters0
VP participating0
Outcome (current)—
Current support—

06Voters

0 total

No votes recorded yet.

07Forum

AIForum synthesis by Kvorumclaude-haiku-4-5
sentiment · favorablethread · constructive

Arguments for

  • Collateral factor reductions for low-supply assets are part of a necessary v2 deprecation strategy that will not cause immediate liquidations and only marginally impact affected users.— Gauntlet

Arguments against

None surfaced.

Notable participants

  • GauntletProposer and risk analyst providing the collateral factor reduction recommendations and liquidation impact analysis for Phase 4 v2 deprecation.
Generated by Kvorum
model: claude-haiku-4-5
provider: anthropic
profile: anthropic-fast-v1
prompt: v1.0
generated: 2mo ago
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