KVORUM
compoundSource: Compound governor bravo · #324

Initialize cwstETHv3 on Ethereum Mainnet

executedSep 14, 2024, 03:26 AM UTCbyD20xd2a7…5a0c

01Summary

AISummary by Kvorumclaude-haiku-4-5

Initialize a new cwstETHv3 market on Ethereum Mainnet by deploying Compound III with wstETH as the base asset. This involves configuring the Comet factory and instance, setting risk parameters based on Gauntlet recommendations, seeding reserves with ~23.5 wstETH, and registering the market on the official v3 markets list.

Type
protocol addition

Key changes

  • Deploy new Compound III (Comet) instance with wstETH as base asset on Ethereum Mainnet(high)
  • Set risk parameters for cwstETHv3 market including collateral factors (88-96%), liquidation incentives (91-91%), and borrow limits based on Gauntlet recommendations(high)
  • Configure two collateral assets: AAVE (collateral factor 88%-91%-96%, borrow limit 10,000 COMP) and LDO (collateral factor 88%-91%-94%, borrow limit 15,000 COMP)(high)
  • Seed cwstETHv3 reserves by depositing approximately 23.54 wstETH(medium)
  • Register new cwstETHv3 market (0x3D0bb1ccaB520A66e607822fC55BC921738fAFE3) in the official v3 markets JSON on ENS record(medium)
  • Configure rewards contract for the new Comet instance to enable COMP incentives(medium)
Contracts0x316f9708bb98af7da9c68c1c3b5e79039cd336e30x1ec63b5883c3481134fd50d5daebc83ecd2e87790x1b0e765f6224c21223aea2af16c1c46e38885a400x2c776041ccfe903071af44aa147368a9c8eea5180x4976fb03c32e5b8cfe2b6ccb31c09ba78ebaba410x3D0bb1ccaB520A66e607822fC55BC921738fAFE3
Generated by Kvorum
model: claude-haiku-4-5
provider: anthropic
profile: anthropic-fast-v1
prompt: v1.0
generated: 2mo ago
Read the description ↗

02Description

203 words

Initialize cwstETHv3 on Ethereum Mainnet

Proposal summary

Compound Growth Program [AlphaGrowth] proposes the deployment of Compound III to the Mainnet network. This proposal takes the governance steps recommended and necessary to initialize a Compound III wstETH market on Mainnet; upon execution, cwstETHv3 will be ready for use. 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, deploy market GitHub action run and forum discussion.

Proposal Actions

The first proposal action sets the CometFactory for the new Comet instance in the existing Configurator.

The second action configures the Comet instance in the Configurator.

The third action deploys an instance of the newly configured factory and upgrades the Comet instance to use that implementation.

The fourth action configures the existing rewards contract for the newly deployed Comet instance.

The fifth action converts ether to wstETH and transfers it to the Comet to seed the reserves.

The sixth action updates the ENS TXT record v3-official-markets on v3-additional-grants.compound-community-licenses.eth, updating the official markets JSON to include the new Ethereum Mainnet cwstETHv3 market.

03Mismatch analysis

AIMismatch analysis by Kvorum

A calldata-vs-description analysis is not generated yet. Review the decoded actions →

04Actions

6 total
#0setFactory(address,address)chain 0x1
Target
0x316f…36e3
Value
0 wei
Function
setFactory(address,address)
Arguments
{
  "0": "0x3D0bb1ccaB520A66e607822fC55BC921738fAFE3",
  "1": "0x698A949f3b4f7a5DdE236106F25Fa0eAcA0FcEF1"
}
Calldata
#1setConfiguration(address,(address,address,address,address,address,uint64,uint64,uint64,uint64,uint64,uint64,uint64,uint64,uint64,uint64,uint64,uint64,uint104,uint104,uint104,(address,address,uint8,uint64,uint64,uint64,uint128)[]))chain 0x1
Target
0x316f…36e3
Value
0 wei
Function
setConfiguration(address,(address,address,address,address,address,uint64,uint64,uint64,uint64,uint64,uint64,uint64,uint64,uint64,uint64,uint64,uint64,uint104,uint104,uint104,(address,address,uint8,uint64,uint64,uint64,uint128)[]))
Arguments
{
  "0": "0x3D0bb1ccaB520A66e607822fC55BC921738fAFE3",
  "1": [
    "0x6d903f6003cca6255D85CcA4D3B5E5146dC33925",
    "0xbbf3f1421D886E9b2c5D716B5192aC998af2012c",
    "0x7f39C581F595B53c5cb19bD0b3f8dA6c935E2Ca0",
    "0x4F67e4d9BD67eFa28236013288737D39AeF48e79",
    "0x995E394b8B2437aC8Ce61Ee0bC610D617962B214",
    "850000000000000000",
    "12000000000000000",
    "1000000000000000000",
    "0",
    "850000000000000000",
    "14000000000000000",
    "1149999999999999872",
    "10000000000000000",
    "700000000000000000",
    "1000000000000000",
    "92592592592",
    "46296296296",
    "10000000000000000000",
    "100000000000000000",
    "5000000000000000000000",
    [
      [
        "0xA1290d69c65A6Fe4DF752f95823fae25cB99e5A7",
        "0xC49399814452B41dA8a7cd76a159f5515cb3e493",
        "18",
        "880000000000000000",
        "910000000000000000",
        "960000000000000000",
        "10000000000000000000000"
      ],
      [
        "0xbf5495Efe5DB9ce00f80364C8B423567e58d2110",
        "0xc7986B6318C3f3aB5bE12BAF22892961158D3c24",
        "18",
        "880000000000000000",
        "910000000000000000",
        "940000000000000000",
        "15000000000000000000000"
      ]
    ]
  ]
}
Calldata
#2deployAndUpgradeTo(address,address)chain 0x1
Target
0x1ec6…8779
Value
0 wei
Function
deployAndUpgradeTo(address,address)
Arguments
{
  "0": "0x316f9708bB98af7dA9c68C1C3b5e79039cD336E3",
  "1": "0x3D0bb1ccaB520A66e607822fC55BC921738fAFE3"
}
Calldata
#3setRewardConfig(address,address)chain 0x1
Target
0x1b0e…5a40
Value
0 wei
Function
setRewardConfig(address,address)
Arguments
{
  "0": "0x3D0bb1ccaB520A66e607822fC55BC921738fAFE3",
  "1": "0xc00e94Cb662C3520282E6f5717214004A7f26888"
}
Calldata
#4deposit(address)chain 0x1
Target
0x2c77…a518
Value
23538481000000000000 wei
Function
deposit(address)
Arguments
{
  "0": "0x3D0bb1ccaB520A66e607822fC55BC921738fAFE3"
}
Calldata
#5setText(bytes32,string,string)chain 0x1
Target
0x4976…ba41
Value
0 wei
Function
setText(bytes32,string,string)
Arguments
{
  "0": "0x7dcf87198fd673716e5a32b206d9379c4fcbad8875073f52bfd0656759bf89ed",
  "1": "v3-official-markets",
  "2": "{\"1\":[{\"baseSymbol\":\"USDC\",\"cometAddress\":\"0xc3d688B66703497DAA19211EEdff47f25384cdc3\"},{\"baseSymbol\":\"WETH\",\"cometAddress\":\"0xA17581A9E3356d9A858b789D68B4d866e593aE94\"},{\"baseSymbol\":\"USDT\",\"cometAddress\":\"0x3Afdc9BCA9213A35503b077a6072F3D0d5AB0840\"},{\"baseSymbol\":\"wstETH\",\"cometAddress\":\"0x3D0bb1ccaB520A66e607822fC55BC921738fAFE3\"}],\"10\":[{\"baseSymbol\":\"USDC\",\"cometAddress\":\"0x2e44e174f7D53F0212823acC11C01A11d58c5bCB\"},{\"baseSymbol\":\"USDT\",\"cometAddress\":\"0x995E394b8B2437aC8Ce61Ee0bC610D617962B214\"},{\"baseSymbol\":\"WETH\",\"cometAddress\":\"0xE36A30D249f7761327fd973001A32010b521b6Fd\"}],\"137\":[{\"baseSymbol\":\"USDC\",\"cometAddress\":\"0xF25212E676D1F7F89Cd72fFEe66158f541246445\"},{\"baseSymbol\":\"USDT\",\"cometAddress\":\"0xaeB318360f27748Acb200CE616E389A6C9409a07\"}],\"8453\":[{\"baseSymbol\":\"USDbC\",\"cometAddress\":\"0x9c4ec768c28520B50860ea7a15bd7213a9fF58bf\"},{\"baseSymbol\":\"WETH\",\"cometAddress\":\"0x46e6b214b524310239732D51387075E0e70970bf\"},{\"baseSymbol\":\"USDC\",\"cometAddress\":\"0xb125E6687d4313864e53df431d5425969c15Eb2F\"}],\"42161\":[{\"baseSymbol\":\"USDC.e\",\"cometAddress\":\"0xA5EDBDD9646f8dFF606d7448e414884C7d905dCA\"},{\"baseSymbol\":\"USDC\",\"cometAddress\":\"0x9c4ec768c28520B50860ea7a15bd7213a9fF58bf\"},{\"baseSymbol\":\"WETH\",\"cometAddress\":\"0x6f7D514bbD4aFf3BcD1140B7344b32f063dEe486\"},{\"baseSymbol\":\"USDT\",\"cometAddress\":\"0xd98Be00b5D27fc98112BdE293e487f8D4cA57d07\"}],\"534352\":[{\"baseSymbol\":\"USDC\",\"cometAddress\":\"0xB2f97c1Bd3bf02f5e74d13f02E3e26F93D77CE44\"}]}"
}
Calldata

05Tally

Summed from votes

Voters20
VP participating856.5K
Outcome (current)For
Current support100%

06Voters

20 total

No votes recorded yet.

07Forum

No forum thread is confidently linked to this proposal.