KVORUM
compoundSource: Compound governor oz · #438

Initialize cWETHv3 on Unichain

executedMay 7, 2025, 08:34 AM UTCby870x871f…e26c

01Summary

AISummary by Kvorumclaude-haiku-4-5

Governance proposal to deploy Compound III (cWETHv3) on the Unichain network by bridging 100 ETH seed reserves and 3,600 COMP rewards from Mainnet, configuring the market with Gauntlet-recommended risk parameters, and setting daily supply/borrow rewards at 12/8 COMP respectively.

Type
protocol addition

Key changes

  • Bridge 100 ETH from Mainnet Timelock to Unichain as seed reserves for the cWETHv3 market(high)
  • Bridge 3,600 COMP tokens from Mainnet to Unichain to fund market rewards(high)
  • Deploy Compound III (Comet) implementation on Unichain with market configuration including collateral assets (wstETH, ezETH, weETH)(high)
  • Set supply rewards at 12 COMP per day and borrow rewards at 8 COMP per day(high)
  • Use Redstone as price feed provider (consistent with existing USDC Unichain market)(medium)
  • Update ENS TXT record to register cWETHv3 as an official Compound v3 market(low)
Contracts0x81014f44b0a345033bb2b3b21c7a1a308b35feea0x3d9819210a31b4961b30ef54be2aed79b9c9cd3b0xc00e94cb662c3520282e6f5717214004a7f268880x9a3d64e386c18cb1d6d5179a9596a4b5736e98a60x4976fb03c32e5b8cfe2b6ccb31c09ba78ebaba41
Generated by Kvorum
model: claude-haiku-4-5
provider: anthropic
profile: anthropic-fast-v1
prompt: v1.0
generated: 2mo ago
Read the description ↗

02Description

274 words

Initialize cWETHv3 on Unichain

Proposal summary

Compound Growth Program [AlphaGrowth] proposes the deployment of Compound III to the Unichain network. This proposal takes the governance steps recommended and necessary to initialize a Compound III WETH market on Unichain; upon execution, cWETHv3 will be ready for use. 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 off of the recommendations from Gauntlet.

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

Price feeds

For wstETH deployment, uses market rate price feed whereas for ezETH and weETH, exchange price feeds are used. The price feed provider is Redstone as on the USDC Unichain market.

Proposal Actions

The first action bridges 100 ETH as seed reserves from Mainnet Timelock to Unichain L2 Timelock using UnichainL1StandardBridge.

The second action transfers 3,600 COMP as rewards from the Comptroller to Timelock.

The third action approves 3,600 COMP to be bridged to Unichain via UnichainL1StandardBridge.

The fourth action bridges 3,600 COMP to Unichain via UnichainL1StandardBridge.

The fifth proposal action sets the Comet configuration and deploys a new Comet implementation on Unichain. This sends the encoded setFactory, setConfiguration, deployAndUpgradeToand setRewardConfig calls across the bridge to the governance receiver on Unichain. Supply rewards are 12 COMP per day, and borrow rewards are 8 COMP per day. Finally, bridged ETH is wrapped to WETH and transferred to Comet as seed reserves.

The sixth 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 Unichain cWETHv3 market.

03Mismatch analysis

AIMismatch analysis by Kvorum

A calldata-vs-description analysis is not generated yet. Review the decoded actions →

04Actions

6 total
#0depositETHTo(address,uint32,bytes)chain 0x1
Target
0x8101…feea
Value
100000000000000000000 wei
Function
depositETHTo(address,uint32,bytes)
Arguments
{
  "_to": "0x2F4eAF29dfeeF4654bD091F7112926E108eF4Ed0",
  "_extraData": "0x",
  "_minGasLimit": "200000"
}
Calldata
#1_grantComp(address,uint256)chain 0x1
Target
0x3d98…cd3b
Value
0 wei
Function
_grantComp(address,uint256)
Arguments
{
  "amount": "3600000000000000000000",
  "recipient": "0x6d903f6003cca6255D85CcA4D3B5E5146dC33925"
}
Calldata
#2approve(address,uint256)chain 0x1
Target
0xc00e…6888
Value
0 wei
Function
approve(address,uint256)
Arguments
{
  "amount": "3600000000000000000000",
  "address": "0x81014F44b0a345033bB2b3B21C7a1A308B35fEeA"
}
Calldata
#3bridgeERC20To(address,address,address,uint256,uint32,bytes)chain 0x1
Target
0x8101…feea
Value
0 wei
Function
bridgeERC20To(address,address,address,uint256,uint32,bytes)
Arguments
{
  "_to": "0x6f7D514bbD4aFf3BcD1140B7344b32f063dEe486",
  "_amount": "3600000000000000000000",
  "_extraData": "0x",
  "_localToken": "0xc00e94Cb662C3520282E6f5717214004A7f26888",
  "_minGasLimit": "200000",
  "_remoteToken": "0xdf78e4F0A8279942ca68046476919A90f2288656"
}
Calldata
#4sendMessage(address,bytes,uint32)chain 0x1
Target
0x9a3d…98a6
Value
0 wei
Function
sendMessage(address,bytes,uint32)
Arguments
{
  "_target": "0x4b5DeE60531a72C1264319Ec6A22678a4D0C8118",
  "_message": 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  "_minGasLimit": "3000000"
}
Calldata
#5setText(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\"}],\"130\":[{\"baseSymbol\":\"USDC\",\"cometAddress\":\"0x2c7118c4C88B9841FCF839074c26Ae8f035f2921\"},{\"baseSymbol\":\"WETH\",\"cometAddress\":\"0x6C987dDE50dB1dcDd32Cd4175778C2a291978E2a\"}],\"137\":[{\"baseSymbol\":\"USDC\",\"cometAddress\":\"0xF25212E676D1F7F89Cd72fFEe66158f541246445\"},{\"baseSymbol\":\"USDT\",\"cometAddress\":\"0xaeB318360f27748Acb200CE616E389A6C9409a07\"}],\"2020\":[{\"baseSymbol\":\"WETH\",\"cometAddress\":\"0x4006eD4097Ee51c09A04c3B0951D28CCf19e6DFE\"}],\"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

Voters58
VP participating650.9K
Outcome (current)For
Current support100%

06Voters

58 total
Filter:
VoterChoice% of totalRationale
070x0703…961bFor80K12.29%—2y ago
130x13bd…8548For80K12.29%—2y ago
3F0x3fb1…4c8aFor80K12.29%—2y ago
B40xb49f…7948For80K12.29%—2y ago
660x66cd…65f9For80K12.29%—2y ago
220x2210…d02eFor50K7.69%—2y ago
050x0579…ca09For50K7.68%—2y ago
4F0x4f89…fd3cFor50K7.68%—2y ago
B30xb356…c826For50K7.68%—2y ago
DC0xdc1f…e432For50K7.68%—2y ago
CE0xce8a…8ca3For8780.13%—2y ago
050x0579…4048For11.20.00%—2y ago
B90xb933…8dd1For9.30.00%—2y ago
4A0x4a46…c1a6For30.00%—2y ago
210x21b3…fa75For20.00%—2y ago
B70xb792…89d7For20.00%—2y ago
010x0151…c3b9For1.10.00%—2y ago
170x1729…b879For10.00%—2y ago
2F0x2f2f…f78aFor0.50.00%—2y ago
C60xc6d7…bfb2For0.10.00%—2y ago
610x61ff…9630For0.10.00%—2y ago
9A0x9a0f…8de8For0.10.00%—2y ago
100x1084…3695For0.10.00%—2y ago
D80xd8de…ae41For0.10.00%—2y ago
E50xe5bd…7091For00.00%—2y ago
840x8469…ecd9For00.00%—2y ago
A80xa8d3…360bFor00.00%—2y ago
B30xb331…7174For00.00%—2y ago
470x47c0…4659For00.00%—2y ago
B90xb986…2175For00.00%—2y ago
460x463b…f3acFor00.00%—2y ago
090x09cf…91b7For00.00%—2y ago
7E0x7ec9…44ceFor00.00%—2y ago
2B0x2bff…38aeFor00.00%—2y ago
210x211d…a771For00.00%—2y ago
280x2829…08b3For00.00%—2y ago
D90xd999…17dbFor00.00%—2y ago
4E0x4ea9…cc98For00.00%—2y ago
D60xd636…522eFor00.00%—2y ago
FD0xfd7f…1760For00.00%—2y ago
670x67d3…2a3cFor00.00%—2y ago
410x418e…e0a4For00.00%—2y ago
720x7241…716fFor00.00%—2y ago
900x909c…dedcFor00.00%—2y ago
440x4442…62d7For00.00%—2y ago
F60xf6dc…963aFor00.00%—2y ago
490x491f…9fbbFor00.00%—2y ago
1E0x1e7e…65d4For00.00%—2y ago
A10xa1a0…0de0For00.00%—2y ago
C70xc763…0010For00.00%—2y ago
Showing 50

07Forum

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

Arguments for

  • Kelp DAO requested listing rsETH/wrsETH on Compound markets including the Unichain WETH market, citing existing listings across other Compound deployments and growing liquidity/demand.— whyshock
  • Gauntlet provided formal risk parameter recommendations (CF 90%, LF 93%, LP 4%, supply cap 1,000 rsETH) for onboarding rsETH to the Unichain WETH comet, aligning them with rsETH's mainnet parameters.— Gauntlet
  • WOOF! executed the technical implementation (PRs, tests, simulations, deployment artifacts) confirming the market's readiness for adding rsETH as collateral.— dmitriywoofsoftware
  • Gauntlet noted that liquidity for rsETH on Unichain (via Uniswap V4 pool, ~$14.81M TVL) was sufficient to support the recommended conservative supply cap.— Gauntlet

Arguments against

None surfaced.

Unresolved concerns

  • Gauntlet flagged that the rsETH/ETH pool on Unichain had been supported by UNI incentives that ended, and observed TVL volatility afterward, raising questions about sustained liquidity.— Gauntlet
  • A community member questioned the legitimacy of the on-chain proposal because it was created by an address not associated with a known entity or past governance history.— she256

Notable participants

  • AlphaGrowthOriginal proposer who initiated the broader proposal to launch the Unichain WETH market and listed candidate collateral assets including rsETH.
  • GauntletRisk manager who provided detailed parameter recommendations for the WETH comet, WBTC/UNI/ezETH/wstETH/weETH assets, and later specifically for rsETH on both Unichain and Mainnet markets.
  • dmitriywoofsoftwareWOOF! team member who executed and documented the technical deployment, PRs, and on-chain proposal details for the WETH market and rsETH additions.
  • whyshockKelp DAO representative who requested the listing of rsETH/wrsETH on Compound markets, including Unichain.
  • she256Community member who raised a due-diligence concern about the proposer wallet's identity.
  • PashaClarified that the proposing wallet was a legitimately whitelisted WOOF! wallet, resolving the identity concern.
Generated by Kvorum
model: claude-sonnet-5
provider: anthropic
profile: anthropic-strong-v1
prompt: v1.0
generated: 2mo ago
Open the thread ↗