Add wstETH as collateral into cUSDCv3 on Optimism
01Summary
Compound Growth Program proposes to add wstETH as collateral to the cUSDCv3 market on Optimism network. The proposal includes risk parameters based on Gauntlet's recommendations and has been validated through market simulations.
- Type
- protocol addition
Key changes
- Add wstETH as collateral asset to cUSDCv3 on Optimism(high)
- Set risk parameters for wstETH based on Gauntlet recommendations(high)
- Deploy and upgrade Comet contract on Optimism to support new collateral(high)
Generated by Kvorum
02Description
Add wstETH as collateral into cUSDCv3 on Optimism
Proposal summary
Compound Growth Program [AlphaGrowth] proposes to add wstETH into cUSDCv3 on Optimism network. This proposal takes the governance steps recommended and necessary to update a Compound III USDC market on Optimism. 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 off of the recommendations from Gauntlet.
Further detailed information can be found on the corresponding proposal pull request and forum discussion.
Proposal Actions
The first proposal action adds wstETH to the USDC Comet on Optimism. This sends the encoded addAsset and deployAndUpgradeTo calls across the bridge to the governance receiver on Optimism.
03Mismatch analysis
A calldata-vs-description analysis is not generated yet. Review the decoded actions →
04Actions
- Target
- 0x25ac…5fa1
- Value
- 0 wei
- Function
- sendMessage(address,bytes,uint32)
- Arguments
{ "0": "0xC3a73A70d1577CD5B02da0bA91C0Afc8fA434DAF", "1": "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", "2": "3000000" }- Calldata
05Tally
Summed from votes
06Voters
| Voter | Choice | % of total | Rationale | ||
|---|---|---|---|---|---|
| 8D0x8d07…a265 | For | 55K | 9.81% | — | 2y ago |
| B90xb933…8dd1 | For | 54K | 9.63% | — | 2y ago |
| 220x2210…d02e | For | 52.8K | 9.41% | — | 2y ago |
| 680x683a…6c02 | For | 50.1K | 8.93% | — | 2y ago |
| 070x0703…961b | For | 50K | 8.92% | — | 2y ago |
| B40xb49f…7948 | For | 50K | 8.92% | — | 2y ago |
| 130x13bd…8548 | For | 50K | 8.92% | — | 2y ago |
| DC0xdc1f…e432 | For | 50K | 8.92% | — | 2y ago |
| 7B0x7b3c…cc33 | For | 50K | 8.92% | — | 2y ago |
| TEtennisbowling.eth0xc3aa…f546 | For | 47.5K | 8.47% | — | 2y ago |
| 3F0x3fb1…4c8a | For | 25.6K | 4.56% | — | 2y ago |
| DAdakeshi.eth0xe3c9…6b21 | For | 21.3K | 3.80% | — | 2y ago |
| B30xb356…c826 | For | 3.9K | 0.70% | — | 2y ago |
| 660x66cd…65f9 | For | 481.8 | 0.09% | — | 2y ago |
| 720x72c5…7708 | For | 12 | 0.00% | — | 2y ago |
| 050x0579…ca09 | For | 1 | 0.00% | — | 2y ago |
| C50xc5e6…0b0c | For | 0.4 | 0.00% | — | 2y ago |
| FF0xff6d…cf49 | For | 0.3 | 0.00% | — | 2y ago |
| 880x88bd…4a3f | For | 0.2 | 0.00% | — | 2y ago |
| D90xd988…acf4 | For | 0.2 | 0.00% | — | 2y ago |
| D80xd8de…ae41 | For | 0.1 | 0.00% | — | 2y ago |
07Forum
- [Gauntlet] wstETH Listing for USDC and USDT Comet on Optimism ↗discourse · high confidence
Arguments for
- wstETH was originally recommended for inclusion in Compound III on Optimism but was deferred pending oracle implementation resolution, now ready for listing.— Gauntlet
- Risk parameters have been carefully modeled by Gauntlet with conservative collateral factors (80%) and appropriate liquidation parameters (85% LF, 10% penalty).— Gauntlet
- Implementation has passed extensive testing including Forge tests, gas profiling, unit tests, contract linting, and scenario simulations.— dmitriywoofsoftware
Arguments against
None surfaced.
Unresolved concerns
- Slither static analysis fails for both USDT and USDC market implementations, with no explanation or remediation provided.— dmitriywoofsoftware
Notable participants
- GauntletRisk analyst providing collateral recommendations and risk parameters for wstETH listing.
- dmitriywoofsoftwareCore contributor implementing the proposals and managing pull requests for both USDT and USDC market updates.
Generated by Kvorum
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