KVORUM
compoundSource: Compound governor bravo · #227

[Gauntlet] 2024-03-11: Compound V2 Deprecation (Phase 10) - Part 1

executedMar 20, 2024, 09:42 AM UTCby130x13bd…8548

01Summary

AISummary by Kvorumclaude-haiku-4-5

Gauntlet Phase 10 Part 1 deprecation of Compound V2: reduces borrow caps for UNI, COMP, ETH, and LINK assets (with supplies already paused), establishes new borrow caps for DAI, TUSD, USDC, and USDT, and increases reserve factors from 25% to 50% for COMP, UNI, LINK, and SUSHI to continue the community-voted v2 market deprecation process.

Type
parameter change

Key changes

  • Reduce UNI borrow cap from 700,000 to 25,000 (97% reduction)(high)
  • Reduce COMP borrow cap from 18,000 to 2,500 (86% reduction)(high)
  • Reduce ETH borrow cap from 100,000 to 10,000 (90% reduction)(high)
  • Reduce LINK borrow cap from 125,000 to 9,000 (93% reduction)(high)
  • Establish new borrow cap for DAI at 80,000,000(medium)
  • Establish new borrow cap for USDC at 100,000,000(medium)
  • Establish new borrow cap for USDT at 180,000,000(medium)
  • Establish new borrow cap for TUSD at 650,000(low)

Notable concerns

  • This is Part 1 of 2; additional recommendations from the original forum post could not be included due to transaction limits per proposal
  • UNI, COMP, and LINK have supplies already paused, indicating advanced deprecation stage
Contracts0x70e36f6BF80a52b3B46b3aF8e106CC0ed743E8e40x5d3a536E4D6DbD6114cc1Ead35777bAB948E36430x4Ddc2D193948926D02f9B1fE9e1daa0718270ED50xFAce851a4921ce59e912d19329929CE6da6EB0c70x12392F67bdf24faE0AF363c24aC620a2f67DAd860x35A18000230DA775CAc24873d00Ff85BccdeD5500x39AA39c021dfbaE8faC545936693aC917d5E75630x041171993284df560249B57358F931D9eB7b925D0xf650C3d88D12dB855b8bf7D11Be6C55A4e07dCC90x3d9819210a31b4961b30ef54be2aed79b9c9cd3b
Generated by Kvorum
model: claude-haiku-4-5
provider: anthropic
profile: anthropic-fast-v1
prompt: v1.0
generated: 2mo ago
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02Description

350 words

[Gauntlet] 2024-03-11: Compound V2 Deprecation (Phase 10) - Part 1

Michigan Blockchain is publishing the following proposal on behalf of Gauntlet.

Simple Summary

For Phase 10 of the v2 deprecation, Gauntlet recommends the following borrow cap and reserve factor adjustments:

SymbolCurrent Borrow CapCurrent Borrow Cap USDRecommended Borrow CapRecommended Borrow Cap USD
DAI--80,000,000$80 M
UNI *700,000$7.379 M25,000$0.264 M
TUSD--650,000$0.650 M
USDC--100,000,000$100 M
COMP *18,000$1.439 M2,500$0.200 M
ETH100,000$322.464 M10,000$32 M
USDP--3,000,000$3 M
LINK *125,000$2.362 M9,000$0.170 M
USDT--180,000,000$180 M
  • indicates supply for this asset is paused
SymbolCurrent Reserve FactorRecommended Reserve Factor
COMP25.00%50.00%
UNI25.00%50.00%
LINK25.00%50.00%
SUSHI25.00%50.00%

Gauntlet will not be able to include all the recommendations within the original forum post because of the limiting number of transactions per proposal allowed via Compound goverance. Gauntlet will be breaking this proposal into 2 parts.

Motivation

In this September 2022 snapshot vote, the community voted to start deprecating certain assets on the Compound v2 markets. After our analysis, Gauntlet recommends the following borrow caps and reserve factor adjustments to further deprecate the v2 market. Full proposal and forum discussion

<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 Kvorum

A calldata-vs-description analysis is not generated yet. Review the decoded actions →

04Actions

5 total
#0_setReserveFactor(uint256)chain 0x1
Target
0x70e3…e8e4
Value
0 wei
Function
_setReserveFactor(uint256)
Arguments
{
  "0": "500000000000000000"
}
Calldata
#1_setReserveFactor(uint256)chain 0x1
Target
0xface…b0c7
Value
0 wei
Function
_setReserveFactor(uint256)
Arguments
{
  "0": "500000000000000000"
}
Calldata
#2_setReserveFactor(uint256)chain 0x1
Target
0x4b01…c9d7
Value
0 wei
Function
_setReserveFactor(uint256)
Arguments
{
  "0": "500000000000000000"
}
Calldata
#3_setReserveFactor(uint256)chain 0x1
Target
0x35a1…d550
Value
0 wei
Function
_setReserveFactor(uint256)
Arguments
{
  "0": "500000000000000000"
}
Calldata
#4_setMarketBorrowCaps(address[],uint256[])chain 0x1
Target
0x3d98…cd3b
Value
0 wei
Function
_setMarketBorrowCaps(address[],uint256[])
Arguments
{
  "0": [
    "0x70e36f6BF80a52b3B46b3aF8e106CC0ed743E8e4",
    "0x5d3a536E4D6DbD6114cc1Ead35777bAB948E3643",
    "0x4Ddc2D193948926D02f9B1fE9e1daa0718270ED5",
    "0xFAce851a4921ce59e912d19329929CE6da6EB0c7",
    "0x12392F67bdf24faE0AF363c24aC620a2f67DAd86",
    "0x35A18000230DA775CAc24873d00Ff85BccdeD550",
    "0x39AA39c021dfbaE8faC545936693aC917d5E7563",
    "0x041171993284df560249B57358F931D9eB7b925D",
    "0xf650C3d88D12dB855b8bf7D11Be6C55A4e07dCC9"
  ],
  "1": [
    "2500000000000000000000",
    "80000000000000000000000000",
    "10000000000000000000000",
    "9000000000000000000000",
    "650000000000000000000000",
    "25000000000000000000000",
    "100000000000000",
    "3000000000000000000000000",
    "180000000000000"
  ]
}
Calldata

05Tally

Summed from votes

Voters13
VP participating428.5K
Outcome (current)For
Current support100%

06Voters

13 total
Filter:
VoterChoice% of totalRationale
B90xb933…8dd1For54.1K12.63%—3y ago
680x683a…6c02For50.1K11.68%—3y ago
7A0x7ae1…e585For50K11.67%—3y ago
ED0xed11…bb04For50K11.67%—3y ago
070x0703…961bFor50K11.67%—3y ago
DC0xdc1f…e432For50K11.67%—3y ago
7B0x7b3c…cc33For50K11.67%—3y ago
TEtennisbowling.eth0xc3aa…f546For47.5K11.08%—3y ago
3F0x3fb1…4c8aFor25.6K5.96%—3y ago
B30xb356…c826For1.3K0.31%—3y ago
E40xe459…e666For3.20.00%—3y ago
270x2748…ac26For10.00%—3y ago
970x9766…1439For00.00%—3y ago
Showing 13

07Forum

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

Arguments for

None surfaced.

Arguments against

None surfaced.

Notable participants

  • GauntletProposer of Phase 10 v2 deprecation strategy with borrow cap and reserve factor adjustments.
Generated by Kvorum
model: claude-haiku-4-5
provider: anthropic
profile: anthropic-fast-v1
prompt: v1.0
generated: 2mo ago
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