Add tETH as collateral into cWETHv3 on Mainnet
01Summary
Add tETH as collateral to Compound III's cWETHv3 market on Ethereum mainnet. The proposal includes updating risk parameters based on Gauntlet recommendations and upgrading the Comet contract to a new version.
- Type
- protocol addition
Key changes
- Add tETH (0xD11c452fc99cF405034ee446803b6F6c1F6d5ED8) as collateral to cWETHv3 with configured risk parameters including collateral factor of 0.88, liquidation incentive of 0.91, liquidation threshold of 0.96, and supply cap of 4000 tETH(high)
- Deploy and upgrade Comet to new version(high)
Generated by Kvorum
02Description
Add tETH as collateral into cWETHv3 on Mainnet
Proposal summary
Compound Growth Program [AlphaGrowth] proposes to add tETH into cWETHv3 on Ethereum network. This proposal takes the governance steps recommended and necessary to update a Compound III WETH market on Ethereum. Simulations have confirmed the market’s readiness, as much as possible, using the Comet scenario suite. The new parameters include setting the risk parameters based on the recommendations from Gauntlet.
Further detailed information can be found on the corresponding proposal pull request and forum discussion.
Proposal Actions
The first action adds tETH asset as collateral with corresponding configurations.
The second action deploys and upgrades Comet to a new version.
03Mismatch analysis
The description states two high-level actions: (1) adding tETH as a new collateral asset to cWETHv3 with risk parameters per Gauntlet's recommendations, and (2) deploying and upgrading the Comet implementation to activate the new configuration. The decoded calldata contains exactly two actions matching this: an addAsset call configuring tETH with specific collateral factor, liquidation factor, liquidation threshold, and supply cap, followed by a deployAndUpgradeTo call targeting the same cometProxy address (0xA17581A9E3356d9A858b789D68B4d866e593aE94) via the configuratorProxy. Both actions align in target, function, and intent with the prose description. The description does not quote specific numeric risk parameters, instead deferring to the linked Gauntlet forum post, so there is nothing to cross-check numerically against the calldata's specific percentages/cap - this is a legitimate summarization rather than an omission. No extra, missing, or mismatched targets/values were found. Overall the proposal description is an accurate and complete summary of the on-chain actions.
Generated by Kvorum
04Actions
- Target
- 0x316f…36e3
- Value
- 0 wei
- Function
- addAsset(address,(address,address,uint8,uint64,uint64,uint64,uint128))
- Arguments
{ "cometProxy": "0xA17581A9E3356d9A858b789D68B4d866e593aE94", "assetConfig": [ "0xD11c452fc99cF405034ee446803b6F6c1F6d5ED8", "0x5ECf850c770F78DC7B9f9760672484B2cCAeA818", "18", "880000000000000000", "910000000000000000", "960000000000000000", "4000000000000000000000" ] }- Calldata
- Target
- 0x1ec6…8779
- Value
- 0 wei
- Function
- deployAndUpgradeTo(address,address)
- Arguments
{ "cometProxy": "0xA17581A9E3356d9A858b789D68B4d866e593aE94", "configuratorProxy": "0x316f9708bB98af7dA9c68C1C3b5e79039cD336E3" }- Calldata
05Tally
Summed from votes
06Voters
| Voter | Choice | % of total | Rationale | ||
|---|---|---|---|---|---|
| 660x66cd…65f9 | For | 80.1K | 11.37% | — | 2y ago |
| 070x0703…961b | For | 80K | 11.36% | — | 2y ago |
| 130x13bd…8548 | For | 80K | 11.36% | — | 2y ago |
| 3F0x3fb1…4c8a | For | 80K | 11.36% | — | 2y ago |
| B40xb49f…7948 | For | 80K | 11.36% | — | 2y ago |
| 220x2210…d02e | For | 53.1K | 7.54% | — | 2y ago |
| B30xb356…c826 | For | 50.3K | 7.15% | — | 2y ago |
| 7A0x7ae1…e585 | For | 50K | 7.10% | — | 2y ago |
| ED0xed11…bb04 | For | 50K | 7.10% | — | 2y ago |
| 050x0579…ca09 | For | 50K | 7.10% | — | 2y ago |
| 4F0x4f89…fd3c | For | 50K | 7.10% | — | 2y ago |
| 210x21b3…fa75 | For | 502 | 0.07% | — | 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 |
| 330x33c1…d810 | For | 1 | 0.00% | — | 2y ago |
| 170x1729…b879 | For | 1 | 0.00% | — | 2y ago |
| 770x77e0…2ab1 | For | 0.1 | 0.00% | — | 2y ago |
| 500x50d2…5318 | For | 0.1 | 0.00% | — | 2y ago |
| 340x3496…126b | For | 0.1 | 0.00% | — | 2y ago |
| 3F0x3fc3…d4f7 | For | 0.1 | 0.00% | — | 2y ago |
| C60xc6d7…bfb2 | For | 0.1 | 0.00% | — | 2y ago |
| BF0xbf69…7265 | 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 |
| 130x1351…fa14 | For | 0.1 | 0.00% | — | 2y ago |
| 1D0x1d2f…3157 | For | 0.1 | 0.00% | — | 2y ago |
| 560x5695…c581 | For | 0.1 | 0.00% | — | 2y ago |
| FC0xfc5e…6145 | Against | 0.1 | 0.00% | — | 2y ago |
| 2F0x2f54…3131 | For | 0.1 | 0.00% | — | 2y ago |
| D10xd1d5…ddd8 | Against | 0.1 | 0.00% | — | 2y ago |
| D80xd807…3263 | For | 0.1 | 0.00% | — | 2y ago |
| AF0xaf0d…7c9e | Against | 0.1 | 0.00% | — | 2y ago |
| B20xb2a6…72c3 | Abstain | 0.1 | 0.00% | — | 2y ago |
| 460x46fd…3cb1 | Abstain | 0.1 | 0.00% | — | 2y ago |
| D80xd8de…ae41 | For | 0.1 | 0.00% | — | 2y ago |
| A30xa3b4…e192 | Abstain | 0.1 | 0.00% | — | 2y ago |
| 2D0x2dba…3ab0 | Against | 0 | 0.00% | — | 2y ago |
| C30xc3e1…53ee | For | 0 | 0.00% | — | 2y ago |
| F00xf0d7…0773 | For | 0 | 0.00% | — | 2y ago |
| FB0xfb1f…f1d2 | For | 0 | 0.00% | — | 2y ago |
| 070x0707…88e3 | For | 0 | 0.00% | — | 2y ago |
| 740x7430…6523 | For | 0 | 0.00% | — | 2y ago |
| 080x080e…cb77 | For | 0 | 0.00% | — | 2y ago |
| EF0xeffa…8de6 | For | 0 | 0.00% | — | 2y ago |
| 970x97a3…980d | For | 0 | 0.00% | — | 2y ago |
| 590x5918…8e65 | For | 0 | 0.00% | — | 2y ago |
| 880x881e…edc0 | For | 0 | 0.00% | — | 2y ago |
| 9E0x9e82…6376 | For | 0 | 0.00% | — | 2y ago |
| 950x95f8…19c0 | For | 0 | 0.00% | — | 2y ago |
07Forum
- Listing tETH on Compound ↗discourse · high confidence
Arguments for
- Listing tETH as collateral would increase borrowing and lending activity and generate additional fees for Compound by attracting yield-seeking users.— juny
- tETH diversifies Compound's yield-bearing asset base and aligns with Compound's vision for scalable, resilient DeFi collateral.— juny
- tETH enhances liquidity and capital efficiency for Compound by capturing staking rewards plus market arbitrage yield.— juny
- Listing tETH specifically on the ETH and wstETH markets makes the most sense given its underlying composition.— sharp
- Gauntlet's analysis found sufficient DEX liquidity, growing supply, and manageable volatility to support initializing tETH as collateral with specific conservative risk parameters (88% CF, 91% LF, 4% liquidation penalty, capped supply).— Gauntlet
- The proposed tETH audits have been fully completed (six audits conducted), addressing prior concerns about incomplete security review.— juny
Arguments against
- Listing should wait until additional pending audits (Omniscia, BlockSec) are completed, since prior audits found issues to fix.— misher
Unresolved concerns
- Slither static analysis checks failed repeatedly across multiple PR submissions without an explanation or resolution being posted in the thread.— dmitriywoofsoftware
- tETH's redemption mechanism is non-atomic, requiring a minimum of 200 wstETH and approximately 7 days to process, which poses liquidation risk considerations that were flagged but not further debated.— Gauntlet
- Relatively high tETH/WETH and tETH/wstETH volatility was noted as a risk factor influencing conservative parameter choices, without further community discussion on whether this is sufficiently mitigated.— Gauntlet
Notable participants
- junyProposer from Treehouse Protocol who authored the original proposal, provided background/motivation, and responded to audit concerns.
- sharpCommunity member who suggested the specific markets (ETH/wstETH) for listing tETH.
- misherRaised a cautionary concern about incomplete audits before listing.
- GauntletRisk manager who provided detailed parameter recommendations and liquidity/volatility analysis for tETH collateral on WETH and wstETH comets.
- dmitriywoofsoftwareTechnical contributor who posted deployment documentation, PR links, and test/action results for implementing tETH across Mainnet markets and later updating its price feed.
Generated by Kvorum
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