compoundSource: Compound governor bravo · #236
[Gauntlet] Base V3 WETH Comets - Interest Rate Curve & Reward Recommendations (04/01/24)
executedApr 6, 2024, 11:58 AM UTCby7B0x7b3c…cc33
01Summary
AISummary by Kvorumclaude-haiku-4-5
Gauntlet proposes adjusting the interest rate curve and COMP supply incentives for Compound III WETH on Base to improve capital efficiency given low utilization. Changes include reducing daily COMP rewards from 20 to 15 tokens and modifying supply/borrow interest rate slopes.
- Type
- parameter change
Key changes
- Reduce daily COMP supply rewards for WETH Comet from 20 to 15 tokens(medium)
- Decrease Annual Supply Interest Rate Slope Low from 0.025 to 0.015(medium)
- Decrease Annual Borrow Interest Rate Slope Low from 0.035 to 0.0155(medium)
- Decrease Annual Supply Interest Rate Slope High from 1 to 0.9(medium)
Notable concerns
- Low utilization of WETH Comet on Base is the primary concern being addressed
- Proposal is contingent on acceptance of Gauntlet's terms of service
ContractsCompound III WETH (BASE)0x46e6b214b524310239732d51387075e0e70970bf
Generated by Kvorum
model: claude-haiku-4-5
provider: anthropic
profile: anthropic-fast-v1
prompt: v1.0
generated: 2mo ago
02Description
239 words
[Gauntlet] Base V3 WETH Comets - Interest Rate Curve & Reward Recommendations (04/01/24)
Simple Summary
A proposal from Gauntlet to adjust IR Curve and Incentives to Compound III WETH (BASE):
| Markets | Daily COMP Supply Rewards (Tokens) | Recommended Daily COMP Supply Rewards (Tokens) |
|---|---|---|
| Compound III WETH (BASE) | 20 | 15 |
| Parameter | Current Value | Recommended Value |
|---|---|---|
| Annual Supply Interest Rate Base | 0 | 0 |
| Annual Supply Interest Rate Slope Low | .025 | .015 |
| Supply Kink | .9 | .9 |
| Annual Supply Interest Rate Slope High | 1 | .9 |
| Annual Borrow Interest Rate Base | .005 | .005 |
| Annual Borrow Interest Rate Slope Low | .035 | .0155 |
| Borrow Kink | .9 | .9 |
| Annual Borrow Interest Rate Slope High | 1 | 1 |
Motivation
Given the low utilization of the WETH Comet on BASE, Gauntlet proposes updating the IR curves and incentives to increase capital efficiency. Full proposal and forum discussion
Specification
The proposal updates the base tracking supply speeds, the supply per year interest rate high slope, and the borrow/supply per year interest rate low slope by using the respective methods on the Configurator.
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
1 total
#0sendMessage(address,bytes,uint32)chain 0x1
- Target
- 0x866e…0afa
- Value
- 0 wei
- Function
- sendMessage(address,bytes,uint32)
- Arguments
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05Tally
Summed from votes
Against0.0%0
For100.0%431.8K
Abstain0.0%0
Voters18
VP participating431.8K
Outcome (current)For
Current support100%
06Voters
18 total
Filter:
| Voter | Choice | % of total | Rationale | ||
|---|---|---|---|---|---|
| B90xb933…8dd1 | For | 54.1K | 12.53% | — | 3y ago |
| 680x683a…6c02 | For | 50.1K | 11.59% | — | 3y ago |
| 7A0x7ae1…e585 | For | 50K | 11.58% | — | 3y ago |
| ED0xed11…bb04 | For | 50K | 11.58% | — | 3y ago |
| 070x0703…961b | For | 50K | 11.58% | — | 3y ago |
| 130x13bd…8548 | For | 50K | 11.58% | — | 3y ago |
| 7B0x7b3c…cc33 | For | 50K | 11.58% | — | 3y ago |
| DC0xdc1f…e432 | For | 50K | 11.58% | — | 3y ago |
| 3F0x3fb1…4c8a | For | 25.6K | 5.92% | — | 3y ago |
| B30xb356…c826 | For | 1.5K | 0.36% | — | 3y ago |
| 660x66cd…65f9 | For | 418.9 | 0.10% | — | 3y ago |
| AB0xab61…ec5a | For | 113.7 | 0.03% | — | 3y ago |
| E40xe459…e666 | For | 3.2 | 0.00% | — | 3y ago |
| 8B0x8bb9…ccc2 | For | 1.1 | 0.00% | — | 3y ago |
| 5F0x5f3c…4d59 | For | 0.1 | 0.00% | — | 3y ago |
| A70xa772…6171 | For | 0 | 0.00% | — | 3y ago |
| 170x1736…a5a2 | For | 0 | 0.00% | — | 3y ago |
| E10xe12e…f110 | For | 0 | 0.00% | — | 3y ago |
Showing 18
07Forum
- [Gauntlet] Base V3 WETH Comets - Interest Rate Curve & Reward Recommendations (3/18/24) ↗discourse · high confidence
AIForum synthesis by Kvorumclaude-haiku-4-5
sentiment · favorablethread · constructive
Arguments for
- Low utilization (40%) and negative reserve growth on V3 WETH Base justify reducing supply rewards and adjusting the IR curve to improve capital efficiency.— Gauntlet
Arguments against
None surfaced.
Notable participants
- GauntletProposal author and risk management contributor recommending supply reward reduction and IR curve adjustments for Base V3 WETH.
Generated by Kvorum
model: claude-haiku-4-5
provider: anthropic
profile: anthropic-fast-v1
prompt: v1.0
generated: 2mo ago
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