KVORUM
compoundSource: Compound governor bravo · #303

[Gauntlet] Risk and IO Parameter Recommendations - (2024-08-06)

executedAug 11, 2024, 05:44 PM UTCby7B0x7b3c…cc33

01Summary

AISummary by Kvorumclaude-haiku-4-5

Gauntlet recommends parameter adjustments across Compound v3 markets: increase ezETH supply cap on Ethereum from 8,000 to 12,000 WETH, increase weETH supply cap on Arbitrum from 6,000 to 12,000 WETH, increase USDT reserve factor from 7.5% to 15%, and eliminate DAI daily supply and borrow comp rewards (reduce from 25 to 0). These changes aim to incentivize growth in v3 markets and encourage migration from v2.

Type
parameter change

Key changes

  • Increase WETH Ethereum ezETH Supply Cap from 8,000 to 12,000(medium)
  • Increase WETH Arbitrum weETH Supply Cap from 6,000 to 12,000(medium)
  • Increase USDT Reserve Factor from 7.5% to 15%(medium)
  • Reduce DAI Daily Supply Comp Reward from 25 to 0(medium)
  • Reduce DAI Daily Borrow Comp Reward from 25 to 0(medium)

Notable concerns

  • Supply cap increases and reward reductions are designed to shift liquidity and users from v2 to v3 markets
Contracts0xf650c3d88d12db855b8bf7d11be6c55a4e07dcc90x3d9819210a31b4961b30ef54be2aed79b9c9cd3b0x316f9708bb98af7da9c68c1c3b5e79039cd336e30x1ec63b5883c3481134fd50d5daebc83ecd2e87790x4dbd4fc535ac27206064b68ffcf827b0a60bab3f
Generated by Kvorum
model: claude-haiku-4-5
provider: anthropic
profile: anthropic-fast-v1
prompt: v1.0
generated: 2mo ago
Read the description ↗

02Description

158 words

[Gauntlet] Risk and IO Parameter Recommendations - (2024-08-06)

Summary

Gauntlet recommends the following parameter adjustments:

  • Increase WETH Ethereum ezETH Supply Cap from 8,000 to 12,000
  • Increase WETH Arbitrum weETH Supply Cap from 6,000 to 12,000
  • Increase USDT Reserve Factor from 7.5% to 15%
  • Reduce DAI Daily Supply Comp Reward from 25 to 0.
  • Reduce DAI Daily Borrow Comp Reward from 25 to 0.

Motivation

Gauntlet recommends updating the supply caps to incentivize further growth within respective Comets. The Reserve Factor and Comp reward adjustments will motivate v2 users to migrate to v3 markets. For more details, see the full forum posts below: Compound v2 Deprecation Phase 13 (08/01/2024) [Gauntlet] Risk Recommendations (2024-08-06)

Specification

The proposal updates the parameters 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

5 total
#0_setReserveFactor(uint256)chain 0x1
Target
0xf650…dcc9
Value
0 wei
Function
_setReserveFactor(uint256)
Arguments
{
  "0": "150000000000000000"
}
Calldata
#1_setCompSpeeds(address[],uint256[],uint256[])chain 0x1
Target
0x3d98…cd3b
Value
0 wei
Function
_setCompSpeeds(address[],uint256[],uint256[])
Arguments
{
  "0": [
    "0x5d3a536E4D6DbD6114cc1Ead35777bAB948E3643"
  ],
  "1": [
    "0"
  ],
  "2": [
    "0"
  ]
}
Calldata
#2updateAssetSupplyCap(address,address,uint128)chain 0x1
Target
0x316f…36e3
Value
0 wei
Function
updateAssetSupplyCap(address,address,uint128)
Arguments
{
  "0": "0xA17581A9E3356d9A858b789D68B4d866e593aE94",
  "1": "0xbf5495Efe5DB9ce00f80364C8B423567e58d2110",
  "2": "12000000000000000000000"
}
Calldata
#3deployAndUpgradeTo(address,address)chain 0x1
Target
0x1ec6…8779
Value
0 wei
Function
deployAndUpgradeTo(address,address)
Arguments
{
  "0": "0x316f9708bB98af7dA9c68C1C3b5e79039cD336E3",
  "1": "0xA17581A9E3356d9A858b789D68B4d866e593aE94"
}
Calldata
#4createRetryableTicket(address,uint256,uint256,address,address,uint256,uint256,bytes)chain 0x1
Target
0x4dbd…ab3f
Value
1975191500000000 wei
Function
createRetryableTicket(address,uint256,uint256,address,address,uint256,uint256,bytes)
Arguments
{
  "0": "0x42480C37B249e33aABaf4c22B20235656bd38068",
  "1": "0",
  "2": "1393610000000000",
  "3": "0x3fB4d38ea7EC20D91917c09591490Eeda38Cf88A",
  "4": "0x3fB4d38ea7EC20D91917c09591490Eeda38Cf88A",
  "5": "1163163",
  "6": "500000000",
  "7": "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"
}
Calldata

05Tally

Summed from votes

Voters0
VP participating0
Outcome (current)—
Current support—

06Voters

0 total

No votes recorded yet.

07Forum

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

Arguments for

  • Exchange rate price feeds for LRTs enable more capital-efficient parameter recommendations while shielding assets from market fluctuations.— Gauntlet
  • Top ezETH suppliers on Ethereum can be safely liquidated with acceptable slippage (1.26% for $7.5M), supporting higher supply caps.— Gauntlet
  • Top weETH suppliers on Arbitrum can be safely liquidated with acceptable slippage (1.41% for $3.1M), supporting higher supply caps.— Gauntlet
  • Compound's 4.1% weETH market share on Arbitrum is minor compared to Aave's 64%, indicating manageable systemic exposure.— Gauntlet

Arguments against

None surfaced.

Unresolved concerns

  • Significant concentration of ezETH liquidity in a single Balancer pool ($27M of $41.45M total) and potential tail-end risks from relying on exchange rate price feeds were flagged but not fully addressed.— Gauntlet

Notable participants

  • GauntletRisk analysis firm proposing ezETH and weETH supply cap increases with detailed liquidity and concentration analysis.
Generated by Kvorum
model: claude-haiku-4-5
provider: anthropic
profile: anthropic-fast-v1
prompt: v1.0
generated: 2mo ago
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