KVORUM
compoundSource: Compound governor bravo · #83

Add Market: FEI

executedFeb 3, 2022, 04:22 AM UTCbyC80xc8a6…dffc

01Summary

AISummary by Kvorumclaude-haiku-4-5

Add FEI (Fei USD algorithmic stablecoin) as a new market on Compound with 0% collateral factor, 25% reserve factor, stablecoin-standard interest rate model, and Chainlink price feed anchored to Uniswap V2.

Type
protocol addition

Key changes

  • Enable FEI as a supported market on Compound protocol(high)
  • Set reserve factor to 25% for FEI market(medium)
  • Establish Chainlink price feed anchored to Uniswap V2 FEI/ETH for price discovery(high)
  • Set collateral factor to 0% to start(medium)
  • Apply stablecoin-standard interest rate model (same as cDAI, cUSDT, cTUSD)(medium)
  • No COMP rewards allocated initially(low)

Notable concerns

  • FEI is an algorithmic stablecoin which carries different risk profile than traditional stablecoins
  • Proposer holds no FEI or TRIBE tokens over past 90 days
  • No COMP rewards being allocated at launch may limit initial usage incentives
Contracts0x3d9819210a31b4961b30ef54be2aed79b9c9cd3b0x7713DD9Ca933848F6819F38B8352D9A15EA73F67
Generated by Kvorum
model: claude-haiku-4-5
provider: anthropic
profile: anthropic-fast-v1
prompt: v1.0
generated: 2mo ago
Read the description ↗

02Description

177 words

Add Market: FEI

Fei USD (FEI) is a highly scalable and decentralized algorithmic stablecoin that utilizes protocol controlled value (PCV) for peg stabilization, while maintaining highly liquid secondary markets. Users can mint FEI from ETH and other bonding curves, while FEI is redeemable at $1 USD (with a 1% fee) for ETH at the peg price.

FEI is governed by TRIBE holders who manage the PCV, backing FEI with a community-owned reserve.

This proposal serves to add a market for Fei USD (FEI) with the following parameters:

  • Interest rate model: same as cDAI, cUSDT, and cTUSD (stablecoin standard)
  • Collateral factor: 0% (standard to start)
  • Reserve factor: 25% (standard)
  • Borrow limit: none
  • COMP rewards: none (for now, pending a broader discussion)
  • Price source: Chainlink reporter anchored to Uniswap V2 FEI/ETH

References:

Proposer disclaimers, affiliations, and transparency:

  • FEI and TRIBE held over the past 90 days: none
  • Compensation for this proposal: none
  • Affiliation to FEI/TRIBE: none

03Mismatch analysis

AIMismatch analysis by Kvorumclaude-sonnet-5
Consistent

The proposal describes two core on-chain effects: (1) listing a new cFEI market, and (2) setting its reserve factor to 25%. Both are directly reflected in the decoded calldata: action 0 calls _supportMarket with the cFEI address matching the Etherscan link given in the references, and action 1 sets the reserve factor to 250000000000000000, which equals 25% once converted from 18-decimal fixed point — matching the stated 'Reserve factor: 25% (standard)'. The description also mentions collateral factor (0%), interest rate model, borrow limit, COMP rewards, and price source, none of which appear as separate on-chain actions in this proposal. However, these are standard for Compound market-listing proposals: a 0% collateral factor requires no explicit call since it is the default state for an unconfigured market, and price-feed/interest-rate-model wiring for cTokens is typically handled at cToken deployment time (via constructor parameters) or through the separate Open Oracle system, not through additional governance actions in the same proposal. These omissions are routine implementation details consistent with standard Compound market-addition proposals and not indicative of a mismatch. No numeric, target, or directional discrepancies were found between the prose and the two decoded actions.

Generated by Kvorum
model: claude-sonnet-5
provider: anthropic
profile: anthropic-strong-v1
prompt: v1.0
generated: 2mo ago
Review the decoded actions ↗

04Actions

2 total
#0_supportMarket(address)chain 0x1
Target
0x3d98…cd3b
Value
0 wei
Function
_supportMarket(address)
Arguments
{
  "0": "0x7713DD9Ca933848F6819F38B8352D9A15EA73F67"
}
Calldata
#1_setReserveFactor(uint256)chain 0x1
Target
0x7713…3f67
Value
0 wei
Function
_setReserveFactor(uint256)
Arguments
{
  "0": "250000000000000000"
}
Calldata

05Tally

Summed from votes

Voters16
VP participating767.6K
Outcome (current)For
Current support100%

06Voters

16 total

No votes recorded yet.

07Forum

No forum thread is confidently linked to this proposal.