Update price feeds in cUSDTv3 on Mainnet with CAPO and Chainlink SVR implementation.
01Summary
Update price feeds for 8 assets (wstETH, sFRAX, WBTC, WETH, LINK, weETH, mETH, COMP) in the cUSDTv3 market on Mainnet by implementing Chainlink's SVR (Sealed Vera Relay) solution for price oracle efficiency and deploying CAPO (Correlated Assets Price Oracle) adapters for yield-bearing assets to protect against price manipulation. Compound DAO will receive SVR-generated revenue through the protocol fee mechanism.
- Type
- contract upgrade
Key changes
- Replace wstETH price feed with CAPO implementation to track yield accumulation and prevent price manipulation(high)
- Replace sFRAX price feed with CAPO implementation for correlated asset price tracking(high)
- Replace WBTC price feed with Chainlink SVR implementation(high)
- Replace WETH price feed with Chainlink SVR implementation(high)
- Replace LINK price feed with Chainlink SVR implementation(high)
- Replace weETH price feed with CAPO implementation to handle yield-bearing asset pricing(high)
- Replace mETH price feed with CAPO implementation for staking yield tracking(high)
- Replace COMP price feed with Chainlink SVR implementation(high)
Notable concerns
- CAPO is a new mechanism that has been audited by OpenZeppelin but represents a significant change to price feed logic
- SVR implementation depends on Chainlink infrastructure and community vote approval
- Price feed updates affect collateral valuation for all positions in cUSDTv3 market
Generated by Kvorum
02Description
Update price feeds in cUSDTv3 on Mainnet with CAPO and Chainlink SVR implementation.
Proposal summary
This proposal updates existing price feeds for wstETH, sFRAX, weETH, WBTC, WETH, mETH, COMP, and LINK on the USDT market on Mainnet.
SVR summery
RFP process and community vote passed and decided to implement Chainlink's SVR solution for Mainnet markets, this proposal updates wstETH, WBTC, WETH, LINK, weETH, mETH, COMP price feeds to support SVR implementations.
CAPO summery
CAPO is a price oracle adapter designed to support assets that grow gradually relative to a base asset - such as liquid staking tokens that accumulate yield over time. It provides a mechanism to track this expected growth while protecting downstream protocol from sudden or manipulated price spikes. wstETH, sFRAX, weETH, mETH price feeds are updated to their CAPO implementations.
Further detailed information can be found on the corresponding proposal pull request, forum discussion for CAPO and forum discussion for SVR.
CAPO audit
CAPO has been audited by OpenZeppelin, as well as the LST / LRT implementation here.
SVR fee recipient
SVR generates revenue from liquidators and Compound DAO will receive that revenue as part of the protocol fee. The fee recipient for SVR is set to Compound DAO multisig: 0xd9496F2A3fd2a97d8A4531D92742F3C8F53183cB.
Proposal actions
The first action updates wstETH price feed. The second action updates sFRAX price feed. The third action updates WBTC price feed. The fourth action updates WETH price feed. The fifth action updates LINK price feed. The sixth action updates weETH price feed. The seventh action updates mETH price feed. The eighth action updates COMP price feed. The ninth action deploys and upgrades Comet to a new version.
03Mismatch analysis
The description lists nine actions in a specific order: eight updateAssetPriceFeed calls (wstETH, sFRAX, WBTC, WETH, LINK, weETH, mETH, COMP) followed by a deployAndUpgradeTo call. The decoded calldata contains exactly nine actions in the same order, each an updateAssetPriceFeed call targeting the same Configurator contract and the same cometProxy address (0x3Afdc9BCA9213A35503b077a6072F3D0d5AB0840, the cUSDT market), followed by a deployAndUpgradeTo call to the same comet proxy via the Configurator proxy. The known token addresses (WBTC, WETH, LINK, COMP) align with the claimed assets in the corresponding action slots, and the ordering of the other assets (wstETH, sFRAX, weETH, mETH) is consistent with the description's stated order. No unexpected recipients, value transfers, or additional privileged calls (e.g., ownership changes) are present. The only item that cannot be directly confirmed from the decoded calldata is the specific SVR fee-recipient address claim, which is likely implemented inside the newly referenced price feed contracts rather than as a separate top-level call — this is flagged as a low-severity, unverifiable claim rather than a contradiction. Overall the actions, targets, and value amounts are consistent between the prose and the calldata, so the proposal is assessed as consistent with high confidence, with one minor caveat noted.
Discrepancies
- lowextra in description
The description states that the SVR fee recipient is explicitly set to the Compound DAO multisig address (0xd9496F2A3fd2a97d8A4531D92742F3C8F53183cB). This configuration is not visible as a distinct decoded top-level action; it may be embedded inside the new price feed adapter contracts being pointed to by updateAssetPriceFeed calls, but cannot be independently verified from the provided calldata.
“The fee recipient for SVR is set to Compound DAO multisig: 0xd9496F2A3fd2a97d8A4531D92742F3C8F53183cB.”
Generated by Kvorum
04Actions
- Target
- 0x316f…36e3
- Value
- 0 wei
- Function
- updateAssetPriceFeed(address,address,address)
- Arguments
{ "asset": "0x7f39C581F595B53c5cb19bD0b3f8dA6c935E2Ca0", "cometProxy": "0x3Afdc9BCA9213A35503b077a6072F3D0d5AB0840", "newPriceFeed": "0xA2699232B341881B1Ed85d91592b7c259E029aCf" }- Calldata
- Target
- 0x316f…36e3
- Value
- 0 wei
- Function
- updateAssetPriceFeed(address,address,address)
- Arguments
{ "asset": "0xA663B02CF0a4b149d2aD41910CB81e23e1c41c32", "cometProxy": "0x3Afdc9BCA9213A35503b077a6072F3D0d5AB0840", "newPriceFeed": "0x8C74B2811D2F1aD65517ADB5C65773c1E520ed2f" }- Calldata
- Target
- 0x316f…36e3
- Value
- 0 wei
- Function
- updateAssetPriceFeed(address,address,address)
- Arguments
{ "asset": "0x2260FAC5E5542a773Aa44fBCfeDf7C193bc2C599", "cometProxy": "0x3Afdc9BCA9213A35503b077a6072F3D0d5AB0840", "newPriceFeed": "0xc8E4c3F58d5FC4409522503927Ecea057EbbA1fc" }- Calldata
- Target
- 0x316f…36e3
- Value
- 0 wei
- Function
- updateAssetPriceFeed(address,address,address)
- Arguments
{ "asset": "0xC02aaA39b223FE8D0A0e5C4F27eAD9083C756Cc2", "cometProxy": "0x3Afdc9BCA9213A35503b077a6072F3D0d5AB0840", "newPriceFeed": "0xc0053f3FBcCD593758258334Dfce24C2A9A673aD" }- Calldata
- Target
- 0x316f…36e3
- Value
- 0 wei
- Function
- updateAssetPriceFeed(address,address,address)
- Arguments
{ "asset": "0x514910771AF9Ca656af840dff83E8264EcF986CA", "cometProxy": "0x3Afdc9BCA9213A35503b077a6072F3D0d5AB0840", "newPriceFeed": "0x83B34662f65532e611A87EBed38063Dec889D5A7" }- Calldata
- Target
- 0x316f…36e3
- Value
- 0 wei
- Function
- updateAssetPriceFeed(address,address,address)
- Arguments
{ "asset": "0xCd5fE23C85820F7B72D0926FC9b05b43E359b7ee", "cometProxy": "0x3Afdc9BCA9213A35503b077a6072F3D0d5AB0840", "newPriceFeed": "0x4F12633d511dC3049DE1ea923b7047fBeD0070D2" }- Calldata
- Target
- 0x316f…36e3
- Value
- 0 wei
- Function
- updateAssetPriceFeed(address,address,address)
- Arguments
{ "asset": "0xd5F7838F5C461fefF7FE49ea5ebaF7728bB0ADfa", "cometProxy": "0x3Afdc9BCA9213A35503b077a6072F3D0d5AB0840", "newPriceFeed": "0x60F2058379716A64a7A5d29219397e79bC552194" }- Calldata
- Target
- 0x316f…36e3
- Value
- 0 wei
- Function
- updateAssetPriceFeed(address,address,address)
- Arguments
{ "asset": "0xc00e94Cb662C3520282E6f5717214004A7f26888", "cometProxy": "0x3Afdc9BCA9213A35503b077a6072F3D0d5AB0840", "newPriceFeed": "0x69B50fF403E995d9c4441a303438D9049dAC8cCD" }- Calldata
- Target
- 0x1ec6…8779
- Value
- 0 wei
- Function
- deployAndUpgradeTo(address,address)
- Arguments
{ "cometProxy": "0x3Afdc9BCA9213A35503b077a6072F3D0d5AB0840", "configuratorProxy": "0x316f9708bB98af7dA9c68C1C3b5e79039cD336E3" }- Calldata
05Tally
Summed from votes
06Voters
| Voter | Choice | % of total | Rationale | ||
|---|---|---|---|---|---|
| B00xb06d…ae3d | For | 122.9K | 20.12% | — | 1y ago |
| 660x66cd…65f9 | For | 80.1K | 13.11% | — | 1y ago |
| 3F0x3fb1…4c8a | For | 80K | 13.09% | — | 1y ago |
| 360x36cc…ffc6 | For | 77.1K | 12.62% | — | 1y ago |
| B30xb356…c826 | For | 50K | 8.19% | — | 1y ago |
| 050x0579…ca09 | For | 50K | 8.18% | — | 1y ago |
| 4F0x4f89…fd3c | For | 50K | 8.18% | — | 1y ago |
| 680x683a…6c02 | For | 40.1K | 6.56% | — | 1y ago |
| 070x0703…961b | For | 30K | 4.91% | — | 1y ago |
| B40xb49f…7948 | For | 30K | 4.91% | — | 1y ago |
| B90xb933…8dd1 | For | 527.6 | 0.09% | — | 1y ago |
| BE0xbe1d…c953 | For | 231 | 0.04% | — | 1y ago |
| C50xc554…7759 | For | 11.2 | 0.00% | — | 1y ago |
| 8B0x8bb9…ccc2 | For | 1.1 | 0.00% | — | 1y ago |
| 170x1729…b879 | For | 1 | 0.00% | — | 1y ago |
| 2F0x2f2f…f78a | For | 0.5 | 0.00% | — | 1y ago |
| 7F0x7f21…31e0 | For | 0.1 | 0.00% | — | 1y ago |
| D70xd712…1366 | For | 0 | 0.00% | — | 1y ago |
| E80xe8ee…0877 | For | 0 | 0.00% | — | 1y ago |
| C40xc4cd…47bc | For | 0 | 0.00% | — | 1y ago |
| 4D0x4d12…7d7c | For | 0 | 0.00% | — | 1y ago |
| E60xe6b8…452d | For | 0 | 0.00% | — | 1y ago |
| AC0xacc9…0b28 | For | 0 | 0.00% | — | 1y ago |
| ED0xed4c…9508 | For | 0 | 0.00% | — | 1y ago |
| EE0xee2a…58a7 | For | 0 | 0.00% | — | 1y ago |
| 880x88f6…0ec0 | For | 0 | 0.00% | — | 1y ago |
07Forum
- OEV RFP Process Update (July 2025) ↗discourse · high confidence
Arguments for
- Chainlink SVR is already live and proven in production (e.g., with Aave) and Compound already relies on Chainlink feeds on mainnet, so adopting it there adds minimal incremental risk.— cylon, allthecolors, pennblockchain
- Ethereum mainnet holds the largest share of liquidation value, making it the most strategically important and comparatively safe place to pilot an OEV solution first.— cylon
- A phased, single-market rollout on mainnet lets the DAO observe real performance (including through a stress event) before expanding further.— cylon
- Delegates demonstrated decisive support for adopting Chainlink SVR on mainnet through the Snapshot vote, reflecting broad community backing.— AranaDigital
Arguments against
- OEV auctions can add latency to liquidations, and historical price-drawdown data shows even a few blocks of delay can push positions into insolvency, especially on volatile assets and L2s.— Gauntlet, victator
- Empirical analysis of past large Compound liquidations shows that slippage, builder tips, and provider fees consume the vast majority of liquidation incentive, meaning actual recapturable OEV revenue is far smaller than advertised (comparable to a minor SFPF adjustment).— victator
- OEV is a patch over a deeper structural flaw in Compound's liquidation mechanism; resources would be better spent on partial liquidations and mechanism redesign rather than locking in an OEV vendor.— victator
- Committing broadly to any OEV vendor now is premature since solutions are not yet fully tested in live, volatile conditions; a cautious, staged approach with real performance data is preferable.— cylon, Avantgarde
- Chainlink's fairness and prioritization for Compound is questionable given it reportedly offered a materially worse revenue share than to Aave, raising doubts about whether L2 rollout and support will be prioritized.— ugurmersin
Unresolved concerns
- Whether OEV-induced liquidation delays could materially increase insolvency risk on mainnet during high-volatility events once Chainlink SVR is live.— Gauntlet, victator
- Whether real-world OEV revenue capture will be far smaller than projected once slippage, builder tips, and provider fees are accounted for.— victator
- Whether Chainlink SVR's actual latency on mainnet and future L2 rollouts will meet Gauntlet's recommended sub-3-block liquidation window.— Gauntlet, mikemassari
- Unresolved questions about Chainlink's comparatively lower revenue share and prioritization for Compound relative to other protocols like Aave.— ugurmersin
- Whether adopting OEV now risks entrenching an inefficient liquidation architecture rather than pursuing higher-leverage fixes like partial liquidations.— victator
Notable participants
- AranaDigitalOrganized and ran the RFP/Snapshot voting process, provided procedural updates and final vote results.
- cylonDelegate who proposed and iteratively refined a risk-minimized, phased rollout strategy across chains, including supporting Chainlink SVR on mainnet.
- GauntletProvided quantitative risk analysis on liquidation latency and price drawdowns, recommending caution and a 3-block latency ceiling.
- victatorAuthored a detailed risk-first analysis (Platonia) arguing OEV revenue is overestimated and that liquidation mechanism redesign is a higher priority than OEV adoption.
- ugurmersinApi3 representative who defended Api3's production track record and raised pointed questions about Chainlink and RedStone's claims and incentives.
- mikemassariRedStone representative who responded to latency/searcher-network critiques and defended RedStone's Venus pilot record.
- allthecolorsDelegate who largely aligned with cylon's cautious approach but advocated testing Chainlink SVR on Base and keeping Api3 on Mantle.
- pennblockchainDelegate who voted with a measured rollout stance, initially favoring Api3 on Arbitrum before revising to no deployment there.
- AvantgardeDelegate who echoed cylon's cautious, phased-testing approach given immature state of OEV solutions.
Generated by Kvorum
08Similar proposals
- compoundexecutedUpdate price feeds in cUSDCv3 on Mainnet with CAPO and Chainlink SVR implementation.99%
- compoundexecutedUpdate price feeds in cUSDSv3 on Mainnet with CAPO and Chainlink SVR implementation.98%
- compoundexecutedUpdate price feeds in cUSDCv3 on Base with CAPO and SVR price feeds.91%
- compoundexecutedUpdate price feeds in cUSDCv3 on Base with CAPO and SVR price feeds.91%
- compoundexecutedUpdate price feeds in cUSDTv3 on Arbitrum with CAPO and SVR price feeds.90%
- compoundexecutedUpdate price feeds in cWETHv3 on Arbitrum with SVR and CAPO price feeds.90%
- compoundexecutedUpdate price feeds in cUSDEv3 on Mantle with CAPO and SVR implementation.87%
- compoundexecutedUpdate WETH, USDC, and wstETH price feeds in cAEROv3 on Base with SVR price feeds84%
- compoundexecutedUpdate USDC and cbBTC price feeds in cWETHv3 on Base with SVR price feeds.83%
- compoundexecutedUpdate price feeds in cUSDCv3 on Arbitrum with SVR price feeds.81%