KVORUM
compoundSource: Compound governor bravo · #379

[Gauntlet] - IR Curve and Incentive Recommendations for Stablecoin and WETH Comets along with Rewards Top-up recommendations

executedDec 15, 2024, 08:12 AM UTCby7B0x7b3c…cc33

01Summary

AISummary by Kvorumclaude-haiku-4-5

Gauntlet proposes updating COMP reward speeds across stablecoin and WETH comets on multiple chains to align with market demand, plus topping up rewards contracts with 11,340 COMP on Ethereum and 4,950 COMP on Base. Key changes include reducing borrow rewards on most chains and adjusting supply rewards on Arbitrum, while eliminating rewards on Polygon.

Type
parameter change

Key changes

  • Arbitrum WETH supply rewards increased from 6 to 10 COMP(medium)
  • Arbitrum WETH borrow rewards reduced from 15 to 5 COMP(medium)
  • Arbitrum USDC supply rewards increased from 17 to 20 COMP(low)
  • Arbitrum USDC borrow rewards reduced from 50 to 10 COMP(high)
  • Arbitrum USDT supply rewards increased from 7 to 15 COMP(low)
  • Arbitrum USDT borrow rewards reduced from 35 to 10 COMP(high)
  • Base WETH borrow rewards eliminated (1 to 0 COMP)(low)
  • Base USDC borrow rewards eliminated (5 to 0 COMP)(low)

Notable concerns

  • Complete elimination of rewards on Polygon chains may impact user participation
  • Significant reduction in borrow incentives on Arbitrum and Ethereum could affect borrowing activity
  • Proposal is contingent on Gauntlet's terms of service
Contracts0x3d9819210a31b4961b30ef54be2aed79b9c9cd3b0x4dbd4fc535ac27206064b68ffcf827b0a60bab3f0xc00e94cb662c3520282e6f5717214004a7f268880x3154cf16ccdb4c6d922629664174b904d80f2c35
Generated by Kvorum
model: claude-haiku-4-5
provider: anthropic
profile: anthropic-fast-v1
prompt: v1.0
generated: 2mo ago
Read the description ↗

02Description

417 words

[Gauntlet] - IR Curve and Incentive Recommendations for Stablecoin and WETH Comets along with Rewards Top-up recommendations

This proposal is part 2 of the recommendations posted here and includes COMP reward speed recommendations for Mainnet Comets. This proposal also bundles the previously proposed top up recommendations for Mainnet and Base Comets.

CometCurrent COMP Supply RewardsRecommended COMP Supply RewardsCurrent COMP Borrow RewardsRecommended COMP Borrow Rewards
Ethereum WETH35No Change205
Arbitrum WETH610155
Base WETH6No Change10
Optimism WETH10No Change50
Ethereum USDC70No Change7135
Ethereum USDT70No Change5025
Ethereum USDS25No Change255
Arbitrum USDC17205010
Arbitrum USDT7153510
Base USDC13No Change50
Polygon USDC8030
Polygon USDT8040
Optimism USDT5No Change50
Optimism USDC5No Change50
Scroll USDC6No Change20

Top-up amounts:

ChainReward Amount
Base4,950
Ethereum11,340

Motivation

For more details please see the full forum posts below:

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.

Motivation

Gauntlet recommends updating the interest rate curve parameters across all WETH and Stablecoin comets to align with market demand. See the the full proposal and forum discussion for more details.

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_grantComp(address,uint256)chain 0x1
Target
0x3d98…cd3b
Value
0 wei
Function
_grantComp(address,uint256)
Arguments
{
  "0": "0x1B0e765F6224C21223AeA2af16c1C46E38885a40",
  "1": "11340000000000000000000"
}
Calldata
#1createRetryableTicket(address,uint256,uint256,address,address,uint256,uint256,bytes)chain 0x1
Target
0x4dbd…ab3f
Value
4182833000000000 wei
Function
createRetryableTicket(address,uint256,uint256,address,address,uint256,uint256,bytes)
Arguments
{
  "0": "0x42480C37B249e33aABaf4c22B20235656bd38068",
  "1": "0",
  "2": "2891210000000000",
  "3": "0x3fB4d38ea7EC20D91917c09591490Eeda38Cf88A",
  "4": "0x3fB4d38ea7EC20D91917c09591490Eeda38Cf88A",
  "5": "2583246",
  "6": "500000000",
  "7": "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"
}
Calldata
#2_grantComp(address,uint256)chain 0x1
Target
0x3d98…cd3b
Value
0 wei
Function
_grantComp(address,uint256)
Arguments
{
  "0": "0x6d903f6003cca6255D85CcA4D3B5E5146dC33925",
  "1": "4950000000000000000000"
}
Calldata
#3approve(address,uint256)chain 0x1
Target
0xc00e…6888
Value
0 wei
Function
approve(address,uint256)
Arguments
{
  "0": "0x3154Cf16ccdb4C6d922629664174b904d80F2C35",
  "1": "4950000000000000000000"
}
Calldata
#4depositERC20To(address,address,address,uint256,uint32,bytes)chain 0x1
Target
0x3154…2c35
Value
0 wei
Function
depositERC20To(address,address,address,uint256,uint32,bytes)
Arguments
{
  "0": "0xc00e94Cb662C3520282E6f5717214004A7f26888",
  "1": "0x9e1028F5F1D5eDE59748FFceE5532509976840E0",
  "2": "0x123964802e6ABabBE1Bc9547D72Ef1B69B00A6b1",
  "3": "4950000000000000000000",
  "4": "200000",
  "5": "0x"
}
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

  • IR curve adjustments align Compound's rates with prevailing market conditions and optimize borrow APR pricing across WETH and stablecoin Comets.— Gauntlet, Tane
  • Revised COMP reward allocation improves incentive efficiency by better matching reward distribution to actual supply and borrow activity levels.— Gauntlet
  • Supply cap increases based on >75% utilization threshold accommodate growing demand and prevent artificial constraints on asset growth.— Gauntlet

Arguments against

None surfaced.

Unresolved concerns

  • The on-chain proposal included supply cap increases not prominently discussed in the forum thread, raising questions about transparency of scope changes.— Tane
  • Unclear whether detailed utilization trends and liquidity assessments should be included in future proposals to improve transparency and rationale clarity.— Tane

Notable participants

  • GauntletProposal author and primary technical contributor providing IR curve recommendations and supply cap methodology.
  • TaneConstructive reviewer who voted in favor while raising transparency concerns about scope and methodology documentation.
Generated by Kvorum
model: claude-haiku-4-5
provider: anthropic
profile: anthropic-fast-v1
prompt: v1.0
generated: 2mo ago
Open the thread ↗