KVORUM
compoundSource: Compound governor bravo · #365

[Gauntlet] Supply Cap Recommendations (11/11/24)

executedNov 18, 2024, 01:03 PM UTCby4D0x4d80…ef4b

01Summary

AISummary by Kvorumclaude-haiku-4-5

Gauntlet proposes increasing supply caps for five assets across multiple Compound Comet deployments to improve capital efficiency: cbBTC on Base V3 USDC (45→90), rsETH on Mainnet V3 WETH (5000→37000), wstETH on Optimism V3 USDC (600→1200), ezETH on Arbitrum V3 WETH (10240→12000), and wstETH on Optimism V3 USDT (400→800).

Type
parameter change

Key changes

  • Increase Base V3 USDC Comet cbBTC supply cap from 45 to 90(medium)
  • Increase Mainnet V3 WETH Comet rsETH supply cap from 5000 to 37000(high)
  • Increase Optimism V3 USDC Comet wstETH supply cap from 600 to 1200(medium)
  • Increase Arbitrum V3 WETH Comet ezETH supply cap from 10240 to 12000(low)
  • Increase Optimism V3 USDT Comet wstETH supply cap from 400 to 800(medium)
Contracts0x316f9708bb98af7da9c68c1c3b5e79039cd336e30x1ec63b5883c3481134fd50d5daebc83ecd2e87790x25ace71c97b33cc4729cf772ae268934f7ab5fa10x4dbd4fc535ac27206064b68ffcf827b0a60bab3f0x866e82a600a1414e583f7f13623f1ac5d58b0afa
Generated by Kvorum
model: claude-haiku-4-5
provider: anthropic
profile: anthropic-fast-v1
prompt: v1.0
generated: 2mo ago
Read the description ↗

02Description

171 words

[Gauntlet] Supply Cap Recommendations (11/11/24)

Summary

Gauntlet recommends the following risk recommendations to the protocol:

  • Increase Base V3 USDC Comet’s cbBTC Supply Cap from 45 to 90
  • Increase Mainnet V3 WETH Comet’s rsETH Supply Cap from 5000 to 37000.
  • Increase Optimism V3 USDC Comet’s wstETH Supply Cap from 600 to 1200.
  • Increase Arbitrum V3 WETH Comet’s ezETH Supply Cap from 10,240 to 12,000.
  • Increase Optimism V3 USDT Comet’s wstETH Supply Cap from 400 to 800.

Motivation

This recommendation aims to increase supply caps for various assets across multiple Comets. Gauntlet recommends to increase supply caps to increase capital efficiency within the Comets.

Full proposal and forum discussions can be found in October posts.

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
#0updateAssetSupplyCap(address,address,uint128)chain 0x1
Target
0x316f…36e3
Value
0 wei
Function
updateAssetSupplyCap(address,address,uint128)
Arguments
{
  "0": "0xA17581A9E3356d9A858b789D68B4d866e593aE94",
  "1": "0xA1290d69c65A6Fe4DF752f95823fae25cB99e5A7",
  "2": "37000000000000000000000"
}
Calldata
#1deployAndUpgradeTo(address,address)chain 0x1
Target
0x1ec6…8779
Value
0 wei
Function
deployAndUpgradeTo(address,address)
Arguments
{
  "0": "0x316f9708bB98af7dA9c68C1C3b5e79039cD336E3",
  "1": "0xA17581A9E3356d9A858b789D68B4d866e593aE94"
}
Calldata
#2sendMessage(address,bytes,uint32)chain 0x1
Target
0x25ac…5fa1
Value
0 wei
Function
sendMessage(address,bytes,uint32)
Arguments
{
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  "2": "2500000"
}
Calldata
#3createRetryableTicket(address,uint256,uint256,address,address,uint256,uint256,bytes)chain 0x1
Target
0x4dbd…ab3f
Value
2596869000000000 wei
Function
createRetryableTicket(address,uint256,uint256,address,address,uint256,uint256,bytes)
Arguments
{
  "0": "0x42480C37B249e33aABaf4c22B20235656bd38068",
  "1": "0",
  "2": "1393610000000000",
  "3": "0x3fB4d38ea7EC20D91917c09591490Eeda38Cf88A",
  "4": "0x3fB4d38ea7EC20D91917c09591490Eeda38Cf88A",
  "5": "2406518",
  "6": "500000000",
  "7": "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"
}
Calldata
#4sendMessage(address,bytes,uint32)chain 0x1
Target
0x866e…0afa
Value
0 wei
Function
sendMessage(address,bytes,uint32)
Arguments
{
  "0": "0x18281dfC4d00905DA1aaA6731414EABa843c468A",
  "1": "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",
  "2": "3000000"
}
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

  • Supply cap increases are justified by high utilization rates (75%+) on various assets across chains, indicating market demand and the need to prevent caps from constraining legitimate user activity.— Gauntlet
  • Liquidation analysis shows acceptable slippage levels relative to liquidation penalties when caps are increased, indicating that larger caps can be safely accommodated without excessive risk.— Gauntlet
  • Top suppliers maintain strong health factors (often >1.4 to >4), demonstrating that large position holders are well-collateralized and pose low liquidation risk even at higher caps.— Gauntlet
  • Exchange rate oracles enable safer cap increases for assets like ezETH, wstETH, and weETH because liquidation pathways are constrained, reducing systemic risk from large caps.— Gauntlet
  • Asset supplies are growing and circulating supply on various chains supports higher cap levels relative to current utilization, allowing protocol to accommodate organic growth.— Gauntlet

Arguments against

None surfaced.

Unresolved concerns

  • sFRAX supply cap was increased since 12/9 but utilization data only shows through 12/8, leaving unclear whether the additional increase to 20M was justified by actual demand.— Tane
  • Top supplier data shown in images does not match the supplied amounts, raising questions about whether other large suppliers exist that should be displayed for transparency.— Tane
  • Top supplier addresses should be provided in text format rather than images for accessibility and to enable community verification of supplier identities and positions.— Tane

Notable participants

  • GauntletPrimary proposer issuing repeated supply cap recommendations backed by utilization data, slippage analysis, and top supplier health metrics.
  • TaneCommunity member raising questions about data currency, completeness of supplier disclosure, and format of supplier information.
  • dmitriywoofsoftwareCommunity participant who supported and accelerated one proposal to push it on-chain.
Generated by Kvorum
model: claude-haiku-4-5
provider: anthropic
profile: anthropic-fast-v1
prompt: v1.0
generated: 2mo ago
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