KVORUM
compoundSource: Compound governor oz · #440

Initialize cWRONv3 on Ronin

executedMay 18, 2025, 01:25 PM UTCby070x0703…961b

01Summary

AISummary by Kvorumclaude-haiku-4-5

Proposal to deploy Compound III (cWRONv3) to Ronin network. The governance actions wrap 31 ETH, bridge it to Ronin as WRON via the Katana exchange, and configure/deploy the new market with risk parameters recommended by Gauntlet. The ENS registry is updated to list the new market. COMP rewards will be added in a future proposal once COMP is whitelisted on CCIP.

Type
protocol addition

Key changes

  • Deployment of Compound III cWRONv3 market on Ronin chain with WRON as collateral asset(high)
  • Bridge 31 ETH from Ethereum to Ronin and swap for WRON to seed market reserves(high)
  • Configure market with Gauntlet-recommended risk parameters including collateral factors, supply/borrow caps, and interest rate models(high)
  • Register new cWRONv3 market in ENS v3-official-markets registry(medium)
  • Set up infrastructure for future COMP rewards once COMP token is whitelisted on CCIP(medium)

Notable concerns

  • 20% slippage tolerance applied to WETH/WRON swap due to asset volatility at execution time
  • MEV infrastructure not yet developed on Ronin, making dynamic slippage prevention inefficient
  • COMP rewards distribution deferred pending COMP CCIP whitelisting
  • Relies on successful CCIP cross-chain messaging for deployment and configuration
Contracts0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc20x80226fc0Ee2b096224EeAc085Bb9a8cba1146f7D0xc0Afdbd1cEB621Ef576BA969ce9D4ceF78Dbc0c00x4976fb03c32e5b8cfe2b6ccb31c09ba78ebaba41
Generated by Kvorum
model: claude-haiku-4-5
provider: anthropic
profile: anthropic-fast-v1
prompt: v1.0
generated: 2mo ago
Read the description ↗

02Description

293 words

Initialize cWRONv3 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 WRON market on Ronin; upon execution, cWRONv3 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 wraps ETH.

The second proposal action approves l1CCIPRouter to take Timelock's WETH in order to seed the reserves.

The third proposal action bridges WETH to Ronin and swaps received WETH for WRON via native Katana exchange router. We allocate 20% of the slippage due to WETH and RON volatility at the moment of proposal execution (in 8 days from the proposal published on-chain). Swap should not be snipped because MEV infrastructure has not been developed on Ronin yet. The dynamic mechanism to prevent such slippage will be cost inefficient due to development and audit resource allocation.

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

The fifth 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 cWRONv3 market.

03Mismatch analysis

AIMismatch analysis by Kvorum

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

04Actions

5 total
#0deposit()chain 0x1
Target
0xc02a…6cc2
Value
31000000000000000000 wei
Function
deposit()
Arguments
{}
Calldata
#1approve(address,uint256)chain 0x1
Target
0xc02a…6cc2
Value
0 wei
Function
approve(address,uint256)
Arguments
{
  "amount": "31000000000000000000",
  "address": "0x80226fc0Ee2b096224EeAc085Bb9a8cba1146f7D"
}
Calldata
#2ccipSend(uint64,(bytes,bytes,(address,uint256)[],address,bytes))chain 0x1
Target
0x8022…6f7d
Value
413348483541850 wei
Function
ccipSend(uint64,(bytes,bytes,(address,uint256)[],address,bytes))
Arguments
{
  "message": [
    "0x0000000000000000000000002c7efa766338d33b9192db1fb5d170bdc03ef3f9",
    "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",
    [
      [
        "0xC02aaA39b223FE8D0A0e5C4F27eAD9083C756Cc2",
        "31000000000000000000"
      ]
    ],
    "0x0000000000000000000000000000000000000000",
    "0x"
  ],
  "destinationChainSelector": "6916147374840168594"
}
Calldata
#3ccipSend(uint64,(bytes,bytes,(address,uint256)[],address,bytes))chain 0x1
Target
0x8022…6f7d
Value
413654491210886 wei
Function
ccipSend(uint64,(bytes,bytes,(address,uint256)[],address,bytes))
Arguments
{
  "message": [
    "0x0000000000000000000000002c7efa766338d33b9192db1fb5d170bdc03ef3f9",
    "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",
    [],
    "0x0000000000000000000000000000000000000000",
    "0x"
  ],
  "destinationChainSelector": "6916147374840168594"
}
Calldata
#4setText(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\"},{\"baseSymbol\":\"WRON\",\"cometAddress\":\"0xc0Afdbd1cEB621Ef576BA969ce9D4ceF78Dbc0c0\"}],\"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

Voters0
VP participating0
Outcome (current)—
Current support—

06Voters

0 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
Open the thread ↗