Add rsETH as collateral into cWETHv3 on Mainnet
01Summary
Add rsETH as collateral to the Compound III cWETHv3 market on Ethereum Mainnet with risk parameters recommended by Gauntlet, including setting supply interest rate slope high to 100% and borrow interest rate slope high to 115%, followed by a Comet contract upgrade.
- Type
- protocol addition
Key changes
- Add rsETH (0xA17581A9E3356d9A858b789D68B4d866e593aE94) as collateral asset to cWETHv3 with collateral factors set at 80% (initial), 85% (liquidation threshold), and 90% (liquidation incentive), with a maximum supply cap of 5000 rsETH(high)
- Set Annual Supply Interest Rate Slope High to 100% for the rsETH asset(medium)
- Set Annual Borrow Interest Rate Slope High to 115% for the rsETH asset(medium)
- Deploy and upgrade Comet to new version with rsETH collateral support(high)
Notable concerns
- Risk parameters based on Gauntlet recommendations should be reviewed for appropriateness
- Market readiness simulations should be validated against current market conditions
Generated by Kvorum
02Description
Add rsETH as collateral into cWETHv3 on Mainnet
Proposal summary
Compound Growth Program [AlphaGrowth] proposes to add rsETH into cWETHv3 on Ethereum network. This proposal takes the governance steps recommended and necessary to update a Compound III WETH market on Ethereum. Simulations have confirmed the market’s readiness, as much as possible, using the Comet scenario suite. The new parameters include setting the risk parameters based on the recommendations from Gauntlet rsETH.
Further detailed information can be found on the corresponding proposal pull request and forum discussion rsETH.
Proposal Actions
The first proposal action adds rsETH asset as collateral with corresponding configurations.
The second action sets new Annual Supply Interest Rate Slope High to 100%.
The third action sets new Annual Borrow Interest Rate Slope High to 115%.
The fourth action deploys and upgrades Comet to a new version.
03Mismatch analysis
Compared each of the four decoded on-chain actions against the four actions described in the proposal text. Action 0 adds rsETH as a new collateral asset with specific risk parameters, consistent with the description's claim of adding rsETH collateral with corresponding configurations. Action 1 sets the supply interest rate slope high to 1e18, which equals 100% in the standard 18-decimal fixed-point format used by Compound, matching the description exactly. Action 2 sets the borrow interest rate slope high to 1.15e18, equal to 115%, again matching the description. Action 3 calls deployAndUpgradeTo targeting the cWETHv3 Comet proxy, consistent with the description's claim of deploying and upgrading Comet to a new version. No numerical, target, or scope mismatches were found between the prose and the decoded calldata. The description accurately and completely reflects all four on-chain actions, so the proposal is assessed as consistent with high confidence.
Generated by Kvorum
04Actions
- Target
- 0x316f…36e3
- Value
- 0 wei
- Function
- addAsset(address,(address,address,uint8,uint64,uint64,uint64,uint128))
- Arguments
{ "0": "0xA17581A9E3356d9A858b789D68B4d866e593aE94", "1": [ "0xA1290d69c65A6Fe4DF752f95823fae25cB99e5A7", "0x2c7118c4C88B9841FCF839074c26Ae8f035f2921", "18", "800000000000000000", "850000000000000000", "900000000000000000", "5000000000000000000000" ] }- Calldata
- Target
- 0x316f…36e3
- Value
- 0 wei
- Function
- setSupplyPerYearInterestRateSlopeHigh(address,uint64)
- Arguments
{ "0": "0xA17581A9E3356d9A858b789D68B4d866e593aE94", "1": "1000000000000000000" }- Calldata
- Target
- 0x316f…36e3
- Value
- 0 wei
- Function
- setBorrowPerYearInterestRateSlopeHigh(address,uint64)
- Arguments
{ "0": "0xA17581A9E3356d9A858b789D68B4d866e593aE94", "1": "1150000000000000000" }- Calldata
- Target
- 0x1ec6…8779
- Value
- 0 wei
- Function
- deployAndUpgradeTo(address,address)
- Arguments
{ "0": "0x316f9708bB98af7dA9c68C1C3b5e79039cD336E3", "1": "0xA17581A9E3356d9A858b789D68B4d866e593aE94" }- Calldata
05Tally
Summed from votes
06Voters
| Voter | Choice | % of total | Rationale | ||
|---|---|---|---|---|---|
| 8D0x8d07…a265 | For | 70K | 11.63% | — | 2y ago |
| B90xb933…8dd1 | For | 54.1K | 9.00% | — | 2y ago |
| 680x683a…6c02 | For | 50.1K | 8.32% | — | 2y ago |
| ED0xed11…bb04 | For | 50K | 8.31% | — | 2y ago |
| B40xb49f…7948 | For | 50K | 8.31% | — | 2y ago |
| 070x0703…961b | For | 50K | 8.31% | — | 2y ago |
| 130x13bd…8548 | For | 50K | 8.31% | — | 2y ago |
| B70xb777…e1a5 | For | 50K | 8.31% | — | 2y ago |
| 7B0x7b3c…cc33 | For | 50K | 8.31% | — | 2y ago |
| DC0xdc1f…e432 | For | 50K | 8.31% | — | 2y ago |
| TEtennisbowling.eth0xc3aa…f546 | For | 47.5K | 7.89% | — | 2y ago |
| 3F0x3fb1…4c8a | For | 25.6K | 4.25% | — | 2y ago |
| B30xb356…c826 | For | 3.9K | 0.65% | — | 2y ago |
| 660x66cd…65f9 | For | 481.8 | 0.08% | — | 2y ago |
| 090x09c1…1edc | For | 1 | 0.00% | — | 2y ago |
| 050x0579…ca09 | For | 1 | 0.00% | — | 2y ago |
| 2F0x2f2f…f78a | For | 0.5 | 0.00% | — | 2y ago |
| 060x06c4…66a2 | For | 0.1 | 0.00% | — | 2y ago |
| 9E0x9e4d…9636 | For | 0 | 0.00% | — | 2y ago |
07Forum
No forum thread is confidently linked to this proposal.
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