KVORUM
compoundSource: Compound governor bravo · #217

[Gauntlet] 2024-02-12: Compound v2 Deprecation (Phase 9)

executedFeb 17, 2024, 03:37 PM UTCby680x683a…6c02

01Summary

AISummary by Kvorumclaude-haiku-4-5

Phase 9 of Compound v2 deprecation: Gauntlet proposes reducing collateral factors for 8 v2 assets by 5 percentage points each (AAVE 43%→38%, BAT 50%→45%, COMP 30%→25%, LINK 49%→44%, MKR 43%→38%, SUSHI 37%→32%, YFI 45%→40%, ZRX 35%→30%) to further wind down the v2 market.

Type
parameter change

Key changes

  • AAVE collateral factor decreased from 43% to 38%(medium)
  • BAT collateral factor decreased from 50% to 45%(medium)
  • COMP collateral factor decreased from 30% to 25%(medium)
  • LINK collateral factor decreased from 49% to 44%(medium)
  • MKR collateral factor decreased from 43% to 38%(medium)
  • SUSHI collateral factor decreased from 37% to 32%(medium)
  • YFI collateral factor decreased from 45% to 40%(medium)
  • ZRX collateral factor decreased from 35% to 30%(medium)

Notable concerns

  • Reduced collateral factors may negatively impact existing borrowers who have these assets as collateral, potentially triggering liquidations if their loan-to-value ratios exceed new limits
Contracts0x3d9819210a31b4961b30ef54be2aed79b9c9cd3b0xe65cdB6479BaC1e22340E4E755fAE7E509EcD06c0x6C8c6b02E7b2BE14d4fA6022Dfd6d75921D90E4E0x70e36f6BF80a52b3B46b3aF8e106CC0ed743E8e40xFAce851a4921ce59e912d19329929CE6da6EB0c70x95b4eF2869eBD94BEb4eEE400a99824BF5DC325b0x4B0181102A0112A2ef11AbEE5563bb4a3176c9d70x80a2AE356fc9ef4305676f7a3E2Ed04e12C339460xB3319f5D18Bc0D84dD1b4825Dcde5d5f7266d407
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provider: anthropic
profile: anthropic-fast-v1
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Read the description ↗

02Description

209 words

[Gauntlet] 2024-02-12: Compound v2 Deprecation (Phase 9)

Simple Summary

For Phase 9 of the Compound v2 deprecation, Gauntlet recommends decreasing the Collateral Factor for v2 collateral assets. Specifically, Gauntlet recommends the following changes:

  • Decrease AAVE Collateral Factor from 43% to 38%
  • Decrease BAT Collateral Factor from 50% to 45%
  • Decrease COMP Collateral Factor from 30% to 25%
  • Decrease LINK Collateral Factor from 49% to 44%
  • Decrease MKR Collateral Factor from 43% to 38%
  • Decrease SUSHI Collateral Factor from 37% to 32%
  • Decrease YFI Collateral Factor from 45% to 40%
  • Decrease ZRX Collateral Factor from 35% to 30%

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 stated collateral asset in order to further deprecate the v2 market.

Full proposal and forum discussion

Specification

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

<sub>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.<sub>

03Mismatch analysis

AIMismatch analysis by Kvorumclaude-sonnet-5
Consistent

The proposal lists eight collateral factor decreases (AAVE, BAT, COMP, LINK, MKR, SUSHI, YFI, ZRX) each from a stated starting percentage to a target percentage, all reflecting a 5-point absolute decrease consistent with the referenced 2022 snapshot cap. The decoded calldata contains exactly eight _setCollateralFactor calls to the same Comptroller-style target address, in the same order as listed in the description, each with a uint256 value that, after converting from 18-decimal fixed point (e.g., 380000000000000000 = 0.38 = 38%), exactly matches the target percentage stated in the prose for the corresponding asset (38%, 45%, 25%, 44%, 38%, 32%, 40%, 30%). No extra actions, omitted actions, or value mismatches were found. The order and count of actions align one-to-one with the bullet list in the Simple Summary, and the Specification section correctly states that _setCollateralFactor is used. No funds transfers, role changes, or unrelated actions are present. Overall the description accurately and completely represents the on-chain actions.

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

04Actions

8 total
#0_setCollateralFactor(address,uint256)chain 0x1
Target
0x3d98…cd3b
Value
0 wei
Function
_setCollateralFactor(address,uint256)
Arguments
{
  "0": "0xe65cdB6479BaC1e22340E4E755fAE7E509EcD06c",
  "1": "380000000000000000"
}
Calldata
#1_setCollateralFactor(address,uint256)chain 0x1
Target
0x3d98…cd3b
Value
0 wei
Function
_setCollateralFactor(address,uint256)
Arguments
{
  "0": "0x6C8c6b02E7b2BE14d4fA6022Dfd6d75921D90E4E",
  "1": "450000000000000000"
}
Calldata
#2_setCollateralFactor(address,uint256)chain 0x1
Target
0x3d98…cd3b
Value
0 wei
Function
_setCollateralFactor(address,uint256)
Arguments
{
  "0": "0x70e36f6BF80a52b3B46b3aF8e106CC0ed743E8e4",
  "1": "250000000000000000"
}
Calldata
#3_setCollateralFactor(address,uint256)chain 0x1
Target
0x3d98…cd3b
Value
0 wei
Function
_setCollateralFactor(address,uint256)
Arguments
{
  "0": "0xFAce851a4921ce59e912d19329929CE6da6EB0c7",
  "1": "440000000000000000"
}
Calldata
#4_setCollateralFactor(address,uint256)chain 0x1
Target
0x3d98…cd3b
Value
0 wei
Function
_setCollateralFactor(address,uint256)
Arguments
{
  "0": "0x95b4eF2869eBD94BEb4eEE400a99824BF5DC325b",
  "1": "380000000000000000"
}
Calldata
#5_setCollateralFactor(address,uint256)chain 0x1
Target
0x3d98…cd3b
Value
0 wei
Function
_setCollateralFactor(address,uint256)
Arguments
{
  "0": "0x4B0181102A0112A2ef11AbEE5563bb4a3176c9d7",
  "1": "320000000000000000"
}
Calldata
#6_setCollateralFactor(address,uint256)chain 0x1
Target
0x3d98…cd3b
Value
0 wei
Function
_setCollateralFactor(address,uint256)
Arguments
{
  "0": "0x80a2AE356fc9ef4305676f7a3E2Ed04e12C33946",
  "1": "400000000000000000"
}
Calldata
#7_setCollateralFactor(address,uint256)chain 0x1
Target
0x3d98…cd3b
Value
0 wei
Function
_setCollateralFactor(address,uint256)
Arguments
{
  "0": "0xB3319f5D18Bc0D84dD1b4825Dcde5d5f7266d407",
  "1": "300000000000000000"
}
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

None surfaced.

Arguments against

None surfaced.

Notable participants

  • GauntletProposal author and risk management provider recommending collateral factor decreases for v2 deprecation phase 9.
Generated by Kvorum
model: claude-haiku-4-5
provider: anthropic
profile: anthropic-fast-v1
prompt: v1.0
generated: 2mo ago
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