Update USDC, USDT and USDS Comets on Mainnet to support more collaterals
01Summary
Update three Compound III Comet markets (cUSDCv3, cUSDSv3, cUSDTv3) on Ethereum mainnet to a new version that supports up to 24 collaterals instead of the current number. The upgrade involves updating factories and extension delegates for each market, followed by deploying and upgrading each Comet contract.
- Type
- contract upgrade
Key changes
- Update factory for cUSDCv3 to newly deployed factory (0x1fA408992e74A42D1787E28b880C451452E8C958)(high)
- Update factory for cUSDSv3 to newly deployed factory (0x1fA408992e74A42D1787E28b880C451452E8C958)(high)
- Update factory for cUSDTv3 to newly deployed factory (0x1fA408992e74A42D1787E28b880C451452E8C958)(high)
- Set extension delegate for cUSDCv3 to newly deployed contract (0xA70a0227028aD005F4Fc9376a82cd1462e3AAedC)(high)
- Set extension delegate for cUSDSv3 to newly deployed contract (0xd4eC911B8FD79139736950235a93d3ea9c3f68ed)(high)
- Set extension delegate for cUSDTv3 to newly deployed contract (0xe3458a0BdBd5A413d3731595C5Eb7C4CD6a14DD1)(high)
- Deploy and upgrade cUSDCv3 to new version supporting up to 24 collaterals(high)
- Deploy and upgrade cUSDSv3 to new version supporting up to 24 collaterals(high)
Notable concerns
- Market readiness simulations were conducted using Comet scenario suite, but live market impact should be monitored
Generated by Kvorum
02Description
Update USDC, USDT and USDS Comets on Mainnet to support more collaterals
Proposal summary
Compound Growth Program [AlphaGrowth] proposes to update 3 Comet to a new version, which supports up to 24 collaterals. This proposal takes the governance steps recommended and necessary to update a Compound III USDC, USDT and USDS markets on Ethereum. Simulations have confirmed the market’s readiness, as much as possible, using the Comet scenario suite.
Detailed information can be found on the corresponding proposal pull request, deploy market GitHub action run and forum discussion.
Proposal Actions
The first action sets the factory for cUSDCv3 to the newly deployed factory.
The second action sets the factory for cUSDSv3 to the newly deployed factory.
The third action sets the factory for cUSDTv3 to the newly deployed factory.
The fourth action sets the extension delegate for cUSDCv3 to the newly deployed contract.
The fifth action sets the extension delegate for cUSDSv3 to the newly deployed contract.
The sixth action sets the extension delegate for cUSDTv3 to the newly deployed contract.
The seventh action deploys and upgrades cUSDCv3 to a new version.
The eighth action deploys and upgrades cUSDSv3 to a new version.
The ninth action deploys and upgrades cUSDTv3 to a new version.
03Mismatch analysis
I mapped each of the 9 decoded calldata actions to the 9 actions described in the proposal text. The market proxy addresses used as arguments (0xc3d688...cdc3 for USDC, 0x5D409e...7b56 for USDS, 0x3Afdc9...b0840 for USDT) are consistent across the setFactory, setExtensionDelegate, and deployAndUpgradeTo calls, and the ordering (USDC, USDS, USDT) matches the description's stated order exactly for all three groups of actions. The setFactory and setExtensionDelegate calls target the shared Configurator contract (0x316f97...336E3), which is normal since Configurator manages settings per-market via its first argument rather than via target_address — this is standard Compound III governance pattern, not a target mismatch. The deployAndUpgradeTo calls go to the CometProxyAdmin (0x1ec63b...e8779) and pass the Configurator address plus the specific market proxy, matching the 'deploys and upgrades' language. All three factory addresses are identical (a single new factory used for all three markets), which aligns with the summary describing one factory upgrade rolled out to three Comets. No values, targets, or omitted/extra actions were found that contradict the prose. The description is a high-level but accurate one-to-one summary of the calldata.
Generated by Kvorum
04Actions
- Target
- 0x316f…36e3
- Value
- 0 wei
- Function
- setFactory(address,address)
- Arguments
{ "0": "0xc3d688B66703497DAA19211EEdff47f25384cdc3", "1": "0x1fA408992e74A42D1787E28b880C451452E8C958" }- Calldata
- Target
- 0x316f…36e3
- Value
- 0 wei
- Function
- setFactory(address,address)
- Arguments
{ "0": "0x5D409e56D886231aDAf00c8775665AD0f9897b56", "1": "0x1fA408992e74A42D1787E28b880C451452E8C958" }- Calldata
- Target
- 0x316f…36e3
- Value
- 0 wei
- Function
- setFactory(address,address)
- Arguments
{ "0": "0x3Afdc9BCA9213A35503b077a6072F3D0d5AB0840", "1": "0x1fA408992e74A42D1787E28b880C451452E8C958" }- Calldata
- Target
- 0x316f…36e3
- Value
- 0 wei
- Function
- setExtensionDelegate(address,address)
- Arguments
{ "0": "0xc3d688B66703497DAA19211EEdff47f25384cdc3", "1": "0xA70a0227028aD005F4Fc9376a82cd1462e3AAedC" }- Calldata
- Target
- 0x316f…36e3
- Value
- 0 wei
- Function
- setExtensionDelegate(address,address)
- Arguments
{ "0": "0x5D409e56D886231aDAf00c8775665AD0f9897b56", "1": "0xd4eC911B8FD79139736950235a93d3ea9c3f68ed" }- Calldata
- Target
- 0x316f…36e3
- Value
- 0 wei
- Function
- setExtensionDelegate(address,address)
- Arguments
{ "0": "0x3Afdc9BCA9213A35503b077a6072F3D0d5AB0840", "1": "0xe3458a0BdBd5A413d3731595C5Eb7C4CD6a14DD1" }- Calldata
- Target
- 0x1ec6…8779
- Value
- 0 wei
- Function
- deployAndUpgradeTo(address,address)
- Arguments
{ "0": "0x316f9708bB98af7dA9c68C1C3b5e79039cD336E3", "1": "0xc3d688B66703497DAA19211EEdff47f25384cdc3" }- Calldata
- Target
- 0x1ec6…8779
- Value
- 0 wei
- Function
- deployAndUpgradeTo(address,address)
- Arguments
{ "0": "0x316f9708bB98af7dA9c68C1C3b5e79039cD336E3", "1": "0x5D409e56D886231aDAf00c8775665AD0f9897b56" }- Calldata
- Target
- 0x1ec6…8779
- Value
- 0 wei
- Function
- deployAndUpgradeTo(address,address)
- Arguments
{ "0": "0x316f9708bB98af7dA9c68C1C3b5e79039cD336E3", "1": "0x3Afdc9BCA9213A35503b077a6072F3D0d5AB0840" }- Calldata
05Tally
Summed from votes
06Voters
| Voter | Choice | % of total | Rationale | ||
|---|---|---|---|---|---|
| 660x66cd…65f9 | For | 80.1K | 0.00% | — | 2y ago |
| B90xb933…8dd1 | For | 80K | 0.00% | — | 2y ago |
| 2B0x2b38…bf33 | Against | 80K | 0.00% | — | 2y ago |
| 130x13bd…8548 | For | 80K | 0.00% | — | 2y ago |
| 3F0x3fb1…4c8a | For | 80K | 0.00% | — | 2y ago |
| B40xb49f…7948 | For | 80K | 0.00% | — | 2y ago |
| B30xb356…c826 | For | 50.3K | 0.00% | — | 2y ago |
| 050x0579…ca09 | For | 50K | 0.00% | — | 2y ago |
| 210x21b3…fa75 | For | 502 | 0.00% | — | 2y ago |
| BE0xbe1d…c953 | For | 231 | 0.00% | — | 2y ago |
| 050x0579…4048 | For | 11.2 | 0.00% | — | 2y ago |
| B70xb792…89d7 | For | 2 | 0.00% | — | 2y ago |
| 8B0x8bb9…ccc2 | For | 1.1 | 0.00% | — | 2y ago |
| 630x63f6…80c1 | For | 1.1 | 0.00% | — | 2y ago |
| 2D0x2df2…b98a | For | 1.1 | 0.00% | — | 2y ago |
| 170x1729…b879 | For | 1 | 0.00% | — | 2y ago |
| C60xc6d7…bfb2 | For | 0.1 | 0.00% | — | 2y ago |
| 9A0x9a0f…8de8 | For | 0.1 | 0.00% | — | 2y ago |
| 610x61ff…9630 | For | 0.1 | 0.00% | — | 2y ago |
| C60xc61b…5657 | For | 0.1 | 0.00% | — | 2y ago |
| FB0xfb2a…00ab | For | 0.1 | 0.00% | — | 2y ago |
| 4A0x4afa…7426 | For | 0.1 | 0.00% | — | 2y ago |
| D80xd8de…ae41 | For | 0.1 | 0.00% | — | 2y ago |
| 950x95f8…19c0 | For | 0 | 0.00% | — | 2y ago |
| 740x7407…b016 | For | 0 | 0.00% | — | 2y ago |
07Forum
No forum thread is confidently linked to this proposal.
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