KVORUM
compoundSource: Compound governor oz · #414

Initialize cWETHv3 on Ronin

canceledMar 9, 2025, 03:37 PM UTCby070x0703…961b

01Summary

AISummary by Kvorumclaude-haiku-4-5

Proposal to deploy Compound III (cWETHv3) on the Ronin network by bridging 25 ETH seed reserves, setting market configuration with Gauntlet-recommended risk parameters, and updating the official markets registry. COMP rewards will be added in a future proposal once COMP is whitelisted on CCIP.

Type
protocol addition

Key changes

  • Bridge 25 ETH seed reserves to Ronin network via roninl1NativeBridge, which will be automatically converted to WETH(high)
  • Deploy new Comet implementation on Ronin and set configuration with Gauntlet-recommended risk parameters via CCIP bridge(high)
  • Update ENS TXT record v3-official-markets to include new Ronin cWETHv3 market in official markets registry(medium)

Notable concerns

  • COMP token rewards not yet enabled; requires separate proposal once COMP is whitelisted on CCIP
  • Market parameters set based on Gauntlet recommendations but depend on network conditions matching simulation assumptions
Contracts0xb480F7d4dB0Cb99c151Fa5C9EF2356c07064a5c80x80226fc0ee2b096224eeac085bb9a8cba1146f7d0x4976fb03c32e5b8cfe2b6ccb31c09ba78ebaba41
Generated by Kvorum
model: claude-haiku-4-5
provider: anthropic
profile: anthropic-fast-v1
prompt: v1.0
generated: 2mo ago
Read the description ↗

02Description

213 words

Initialize cWETHv3 on Ronin

Proposal summary

Compound Growth Program [AlphaGrowth] proposes deployment of Compound III to Ronin network. This proposal takes the governance steps recommended and necessary to initialize a Compound III WETH market on Ronin; upon execution, cWETHv3 will be ready for use. Simulations have confirmed the market’s readiness, as much as possible, using the [Comet scenario suite] (https://github.com/compound-finance/comet/tree/main/scenario). The new parameters include setting the risk parameters based off of the recommendations from Gauntlet.

Further detailed information can be found on the corresponding deployment pull request, deploy market GitHub action run and forum discussion.

Rewards

Gauntlet provided recommendations for COMP rewards, however, the COMP token is not whitelisted on CCIP. When the COMP token is whitelisted, we will create a proposal to bridge COMP tokens and set up speeds.

Proposal Actions

The first proposal action bridges ETH seed reserves to the comet using roninl1NativeBridge. Bridged ETH will be converted to WETH automatically.

The second proposal action sets the Comet configuration and deploys a new Comet implementation on Ronin. This sends the encoded setConfiguration and deployAndUpgradeTo calls across the l1CCIPRouter to the bridge receiver on Ronin.

The third 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 Ronin cWETHv3 market.

03Mismatch analysis

AIMismatch analysis by Kvorummedium confidenceclaude-sonnet-5
Consistent

The proposal describes three concrete on-chain steps: (1) bridging ETH to seed the new Comet via the Ronin L1 native bridge, (2) sending a CCIP message with setConfiguration/deployAndUpgradeTo calldata to deploy and configure the new Comet on Ronin, and (3) updating the ENS TXT record listing official markets to add the new Ronin cWETHv3 market. The decoded calldata contains exactly three actions that align with these three claims: action 0 targets the exact bridge address named in the description and deposits ETH into the newly created Comet address that also appears in the ENS update (action 2) and in the CCIP payload (action 1) as chain 2020's WETH market. Action 1 targets the exact l1CCIPRouter address named in the description, and the embedded calldata literally contains the strings 'setConfiguration' and 'deployAndUpgradeTo', confirming the described configuration/deployment step. Action 2 updates the correct ENS key with a JSON blob that adds a new entry for chain 2020 pointing to the same Comet address used in action 0, matching the description's claim. The rewards section explicitly states that COMP reward speeds are not being set in this proposal, and indeed no such action appears in the calldata, so there is no omission there. No numeric claims in the description (e.g., specific ETH amount) are made that could be checked against the 25 ETH value, so no value mismatch can be flagged. Overall the description accurately and completely reflects the three decoded actions at the level of detail provided, with no target, value, or action-count mismatches. Confidence is medium rather than high because the CCIP message payload is a large opaque bytes blob whose full parameter set (e.g., specific risk parameters) cannot be independently verified against the Gauntlet recommendations referenced in the description, though the top-level function calls and addresses do match.

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

04Actions

3 total
#0requestDepositFor((address,address,(uint8,uint256,uint256)))chain 0x1
Target
0x6419…af08
Value
25000000000000000000 wei
Function
requestDepositFor((address,address,(uint8,uint256,uint256)))
Arguments
{
  "_request": [
    "0xb480F7d4dB0Cb99c151Fa5C9EF2356c07064a5c8",
    "0x0000000000000000000000000000000000000000",
    [
      "0",
      "0",
      "25000000000000000000"
    ]
  ]
}
Calldata
#1ccipSend(uint64,(bytes,bytes,(address,uint256)[],address,bytes))chain 0x1
Target
0x8022…6f7d
Value
234936621059840 wei
Function
ccipSend(uint64,(bytes,bytes,(address,uint256)[],address,bytes))
Arguments
{
  "message": [
    "0x000000000000000000000000368352b54de7f6640f6a58fd85e897321cc5ca1a",
    "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",
    [],
    "0x0000000000000000000000000000000000000000",
    "0x"
  ],
  "destinationChainSelector": "6916147374840168594"
}
Calldata
#2setText(bytes32,string,string)chain 0x1
Target
0x4976…ba41
Value
0 wei
Function
setText(bytes32,string,string)
Arguments
{
  "key": "v3-official-markets",
  "node": "0x7dcf87198fd673716e5a32b206d9379c4fcbad8875073f52bfd0656759bf89ed",
  "value": "{\"1\":[{\"baseSymbol\":\"USDC\",\"cometAddress\":\"0xc3d688B66703497DAA19211EEdff47f25384cdc3\"},{\"baseSymbol\":\"WETH\",\"cometAddress\":\"0xA17581A9E3356d9A858b789D68B4d866e593aE94\"},{\"baseSymbol\":\"USDT\",\"cometAddress\":\"0x3Afdc9BCA9213A35503b077a6072F3D0d5AB0840\"},{\"baseSymbol\":\"wstETH\",\"cometAddress\":\"0x3D0bb1ccaB520A66e607822fC55BC921738fAFE3\"},{\"baseSymbol\":\"USDS\",\"cometAddress\":\"0x5D409e56D886231aDAf00c8775665AD0f9897b56\"},{\"baseSymbol\":\"WBTC\",\"cometAddress\":\"0xe85Dc543813B8c2CFEaAc371517b925a166a9293\"}],\"10\":[{\"baseSymbol\":\"USDC\",\"cometAddress\":\"0x2e44e174f7D53F0212823acC11C01A11d58c5bCB\"},{\"baseSymbol\":\"USDT\",\"cometAddress\":\"0x995E394b8B2437aC8Ce61Ee0bC610D617962B214\"},{\"baseSymbol\":\"WETH\",\"cometAddress\":\"0xE36A30D249f7761327fd973001A32010b521b6Fd\"}],\"137\":[{\"baseSymbol\":\"USDC\",\"cometAddress\":\"0xF25212E676D1F7F89Cd72fFEe66158f541246445\"},{\"baseSymbol\":\"USDT\",\"cometAddress\":\"0xaeB318360f27748Acb200CE616E389A6C9409a07\"}],\"2020\":[{\"baseSymbol\":\"WETH\",\"cometAddress\":\"0xb480F7d4dB0Cb99c151Fa5C9EF2356c07064a5c8\"}],\"5000\":[{\"baseSymbol\":\"USDe\",\"cometAddress\":\"0x606174f62cd968d8e684c645080fa694c1D7786E\"}],\"8453\":[{\"baseSymbol\":\"USDbC\",\"cometAddress\":\"0x9c4ec768c28520B50860ea7a15bd7213a9fF58bf\"},{\"baseSymbol\":\"WETH\",\"cometAddress\":\"0x46e6b214b524310239732D51387075E0e70970bf\"},{\"baseSymbol\":\"USDC\",\"cometAddress\":\"0xb125E6687d4313864e53df431d5425969c15Eb2F\"},{\"baseSymbol\":\"AERO\",\"cometAddress\":\"0x784efeB622244d2348d4F2522f8860B96fbEcE89\"},{\"baseSymbol\":\"USDS\",\"cometAddress\":\"0x2c776041CCFe903071AF44aa147368a9c8EEA518\"}],\"42161\":[{\"baseSymbol\":\"USDC.e\",\"cometAddress\":\"0xA5EDBDD9646f8dFF606d7448e414884C7d905dCA\"},{\"baseSymbol\":\"USDC\",\"cometAddress\":\"0x9c4ec768c28520B50860ea7a15bd7213a9fF58bf\"},{\"baseSymbol\":\"WETH\",\"cometAddress\":\"0x6f7D514bbD4aFf3BcD1140B7344b32f063dEe486\"},{\"baseSymbol\":\"USDT\",\"cometAddress\":\"0xd98Be00b5D27fc98112BdE293e487f8D4cA57d07\"}],\"59144\":[{\"baseSymbol\":\"USDC\",\"cometAddress\":\"0x8D38A3d6B3c3B7d96D6536DA7Eef94A9d7dbC991\"}],\"534352\":[{\"baseSymbol\":\"USDC\",\"cometAddress\":\"0xB2f97c1Bd3bf02f5e74d13f02E3e26F93D77CE44\"}]}"
}
Calldata

05Tally

Summed from votes

Voters76
VP participating676.6K
Outcome (current)For
Current support100%

06Voters

76 total

No votes recorded yet.

07Forum

AIForum synthesis by Kvorumclaude-sonnet-5
sentiment · mixedthread · constructive

Arguments for

  • Ronin brings a massive, highly active gaming user base (millions of MAUs/wallets) and a maturing DeFi vertical (Open Ronin) that offers Compound a strategic first foray into an alt-L1 and a growth flywheel for both ecosystems.— Lionel
  • The Ronin team committed to the Compound Growth Program's standard 10-1 liquidity bootstrapping and incentive requirements, signaling strong ecosystem backing for the deployment.— sharp
  • Independent risk assessments from Chainrisk and Gauntlet provided detailed, conservative parameter recommendations (collateral factors, liquidation penalties, supply caps, IR curves) that made a calibrated deployment feasible.— Sudipan_Chainrisk, Gauntlet
  • Chainlink oracle price feeds and infrastructure were successfully deployed on Ronin ahead of the permissionless launch, addressing a key technical prerequisite for the market.— Lionel, sharp
  • Being an early DeFi protocol on Ronin as it opens up permissionlessly in Q1 2025 offers Compound a first-mover advantage to build stickiness with a large net-new user base.— Lionel

Arguments against

  • Ronin's oracle infrastructure and overall DeFi liquidity/infra were not yet mature enough to warrant a deployment at the time of the initial proposal.— mexilc
  • Several proposed collateral assets (PIXEL, WBTC) had insufficient on-chain DEX liquidity, risking significant slippage during liquidations, so risk teams recommended excluding them initially.— Sudipan_Chainrisk
  • OpenZeppelin's review of Proposal 414 identified a high-severity issue that could put protocol funds at risk, leading to a recommendation to cancel and resubmit with additional validation.— jbass-oz
  • Automated security tooling (Slither) repeatedly failed across multiple deployment PRs for the Ronin markets, raising code-quality/security flags even as other tests passed.— dmitriywoofsoftware

Unresolved concerns

  • How reliable and complete Ronin's oracle and broader DeFi infrastructure would be at launch, given the chain was still transitioning to permissionless deployment.— mexilc
  • Why a critical vulnerability in Proposal 414 was not caught despite the scope having been audited twice previously, and whether that report should be made public to confirm no vulnerable proposal was pushed.— dmitriywoofsoftware, jbass-oz
  • Persistent Slither scan failures across successive Ronin market deployment PRs were never explicitly explained or resolved in the thread.— dmitriywoofsoftware
  • Long-term oracle dependency risk materialized later when Chainlink discontinued support on Ronin, forcing a migration to API3 feeds and eventual deprecation of the WETH and WRON comets.— woof

Notable participants

  • LionelPrimary proposer from the Ronin Ecosystem team who authored the original proposal and posted updates on price feeds and market composition.
  • sharpRepresented the Growth Program perspective, confirming Ronin's incentive commitments and oracle progress, expressing support for deployment.
  • mexilcEarly skeptical voice raising concerns about oracle reliability and Ronin's infrastructure readiness.
  • Sudipan_ChainriskRisk analyst who provided extensive, iterative collateral and parameter recommendations for the USDC, WETH, and RON comets.
  • GauntletSecond risk provider who delivered alternative, more risk-tolerant parameter recommendations for all three proposed comets.
  • dmitriywoofsoftwareTechnical implementer/coordinator who managed deployment PRs, responded to the OpenZeppelin security finding, and pushed follow-up proposals (WRON market, depreciation).
  • jbass-ozOpenZeppelin auditor who flagged a high-severity issue in Proposal 414 and recommended cancellation.
  • woofLater posted the eventual depreciation proposals for cWETHv3 and cWRONv3 on Ronin, reflecting the market's wind-down.
Generated by Kvorum
model: claude-sonnet-5
provider: anthropic
profile: anthropic-strong-v1
prompt: v1.0
generated: 2mo ago
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