KVORUM
compoundSource: Compound governor bravo · #277

Update rsETH and weETH price feeds in cWETHv3 on Mainnet

executedJul 18, 2024, 09:19 AM UTCby070x0703…961b

01Summary

AISummary by Kvorumclaude-haiku-4-5

This proposal updates the price feed mechanisms for rsETH and weETH collaterals in the Compound WETH market on Mainnet from market rates to exchange rates, and deploys a new Comet version. Exchange rate oracles provide insulation from market movements but introduce tail-end risks, potentially enabling more capital-efficient parameters including higher caps and Liquidation Factors.

Type
protocol addition

Key changes

  • Update rsETH price feed from market rate to exchange rate oracle (0xA1290d69c65A6Fe4DF752f95823fae25cB99e5A7)(high)
  • Update weETH price feed from market rate to exchange rate oracle (0x1Ad4CEBa9f8135A557bBe317DB62Aa125C330F26)(high)
  • Deploy and upgrade Comet to new version supporting exchange rate oracles(high)

Notable concerns

  • Exchange rate oracles introduce tail-end risks despite insulation from market movements
  • Higher capital efficiency parameters require ongoing risk management
Contracts0x316f9708bb98af7da9c68c1c3b5e79039cd336e30x1ec63b5883c3481134fd50d5daebc83ecd2e8779
Generated by Kvorum
model: claude-haiku-4-5
provider: anthropic
profile: anthropic-fast-v1
prompt: v1.0
generated: 2mo ago
Read the description ↗

02Description

147 words

Update rsETH and weETH price feeds in cWETHv3 on Mainnet

Proposal summary

This proposal updates existing price feeds for rsETH and weETH collaterals in the WETH market on Mainnet from market rates to exchange rates. If exchange rate oracles are implemented, Gauntlet can recommend more capital efficient parameters as the asset remains insulated from market movements, although this exposes it to tail-end risks. The exchange rate based risk parameters could facilitate higher caps and Liquidation Factors along with more conservative Liquidation Penalties.

Further detailed information can be found on the corresponding proposal pull request, forum discussion for rsETH and forum discussion for weETH.

Proposal Actions

The first proposal action updates rsETH price feed from market rate to exchange rate.

The second proposal action updates weETH price feed from market rate to exchange rate.

The third action deploys and upgrades Comet to a new version.

03Mismatch analysis

AIMismatch analysis by Kvorummedium confidenceclaude-sonnet-5
Consistent

placeholder

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

04Actions

3 total
#0updateAssetPriceFeed(address,address,address)chain 0x1
Target
0x316f…36e3
Value
0 wei
Function
updateAssetPriceFeed(address,address,address)
Arguments
{
  "0": "0xA17581A9E3356d9A858b789D68B4d866e593aE94",
  "1": "0xA1290d69c65A6Fe4DF752f95823fae25cB99e5A7",
  "2": "0xFa454dE61b317b6535A0C462267208E8FdB89f45"
}
Calldata
#1updateAssetPriceFeed(address,address,address)chain 0x1
Target
0x316f…36e3
Value
0 wei
Function
updateAssetPriceFeed(address,address,address)
Arguments
{
  "0": "0xA17581A9E3356d9A858b789D68B4d866e593aE94",
  "1": "0xCd5fE23C85820F7B72D0926FC9b05b43E359b7ee",
  "2": "0x1Ad4CEBa9f8135A557bBe317DB62Aa125C330F26"
}
Calldata
#2deployAndUpgradeTo(address,address)chain 0x1
Target
0x1ec6…8779
Value
0 wei
Function
deployAndUpgradeTo(address,address)
Arguments
{
  "0": "0x316f9708bB98af7dA9c68C1C3b5e79039cD336E3",
  "1": "0xA17581A9E3356d9A858b789D68B4d866e593aE94"
}
Calldata

05Tally

Summed from votes

Voters15
VP participating481.7K
Outcome (current)For
Current support100%

06Voters

15 total

No votes recorded yet.

07Forum

No forum thread is confidently linked to this proposal.