Add tBTC as collateral into cUSDCv3 on Arbitrum
01Summary
WOOF! proposes to add tBTC as collateral to the cUSDCv3 market on Arbitrum with risk parameters recommended by Gauntlet. The proposal executes encoded addAsset and deployAndUpgradeTo calls via Arbitrum bridge to enable tBTC as a supported collateral asset in the Compound III USDC market.
- Type
- protocol addition
Key changes
- Add tBTC (0x6c84a8f1c29108f47a79964b5fe888d4f4d0de40) as collateral asset to cUSDCv3 on Arbitrum(high)
- Apply Gauntlet-recommended risk parameters for tBTC collateral including collateral factor, liquidation threshold, and liquidation incentive(high)
- Deploy and upgrade Comet implementation to support tBTC as collateral(high)
Generated by Kvorum
02Description
Add tBTC as collateral into cUSDCv3 on Arbitrum
Proposal summary
WOOF! proposes to add tBTC into cUSDCv3 on Arbitrum network. This proposal takes the governance steps recommended and necessary to update a Compound III USDC market on Arbitrum. 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 and forum discussion.
Proposal Actions
The first proposal action adds tBTC to the USDC Comet on Arbitrum. This sends the encoded 'addAsset' and 'deployAndUpgradeTo' calls across the bridge to the governance receiver on Arbitrum.
03Mismatch analysis
The proposal contains a single on-chain action: an L1 createRetryableTicket call that bridges an encoded governance message to the Arbitrum governance receiver. Inside the embedded calldata, the function signatures 'addAsset(address,(address,address,address,uint8,uint64,uint64,uint64,uint128))' and 'deployAndUpgradeTo(address,address)' are explicitly present, which directly matches the description's claim that the action 'sends the encoded addAsset and deployAndUpgradeTo calls across the bridge to the governance receiver on Arbitrum.' The target of the retryable ticket (Arbitrum Inbox) and the encoded destination (0x42480C...) align with the standard Compound cross-chain governance pattern used for Arbitrum Comet deployments. The ETH value attached (~0.0023 ETH) is consistent with standard L1->L2 messaging fees (gas limit, max fee per gas, submission cost) and is boilerplate bridging overhead, not a material discrepancy. I could not independently decode the exact numeric risk parameters (collateral factor, liquidation factor, supply cap, etc.) embedded in the nested calldata blob to verify they precisely match the Gauntlet recommendations cited in the forum link, but the description does not commit to specific numeric values in the prose itself—it only references the external recommendation source—so this is not treated as a value mismatch. Overall, the actions described (single bridged action adding tBTC via addAsset + deployAndUpgradeTo) match the single decoded action found, with no evidence of extra, missing, or misdirected actions.description_excerpt_placeholder_removed
Generated by Kvorum
04Actions
- Target
- 0x4dbd…ab3f
- Value
- 2291333000000000 wei
- Function
- createRetryableTicket(address,uint256,uint256,address,address,uint256,uint256,bytes)
- Arguments
{ "to": "0x42480C37B249e33aABaf4c22B20235656bd38068", "data": "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", "gasLimit": "1334646", "l2CallValue": "0", "maxFeePerGas": "500000000", "maxSubmissionCost": "1624010000000000", "callValueRefundAddress": "0x3fB4d38ea7EC20D91917c09591490Eeda38Cf88A", "excessFeeRefundAddress": "0x3fB4d38ea7EC20D91917c09591490Eeda38Cf88A" }- Calldata
05Tally
Summed from votes
06Voters
| Voter | Choice | % of total | Rationale | ||
|---|---|---|---|---|---|
| 3F0x3fb1…4c8a | For | 104.8K | 28.46% | — | 1y ago |
| 660x66cd…65f9 | For | 80.3K | 21.82% | — | 1y ago |
| B30xb356…c826 | For | 51K | 13.87% | — | 1y ago |
| 050x0579…ca09 | For | 50K | 13.58% | — | 1y ago |
| 4F0x4f89…fd3c | For | 50K | 13.58% | — | 1y ago |
| 070x0703…961b | For | 30K | 8.15% | — | 1y ago |
| CE0xce8a…8ca3 | For | 750 | 0.20% | — | 1y ago |
| B90xb933…8dd1 | For | 682.9 | 0.19% | — | 1y ago |
| 9F0x9f77…2768 | For | 532 | 0.14% | — | 1y ago |
| C50xc554…7759 | For | 11.2 | 0.00% | — | 1y ago |
| 8B0x8bb9…ccc2 | For | 1.1 | 0.00% | — | 1y ago |
| 010x0151…c3b9 | For | 1.1 | 0.00% | — | 1y ago |
| 270x2748…ac26 | For | 1 | 0.00% | — | 1y ago |
| 170x1729…b879 | For | 1 | 0.00% | — | 1y ago |
| 2F0x2f2f…f78a | For | 0.5 | 0.00% | — | 1y ago |
| 6C0x6cc9…8120 | For | 0.1 | 0.00% | — | 1y ago |
| 070x0751…5295 | For | 0.1 | 0.00% | — | 1y ago |
| E70xe790…572c | Abstain | 0.1 | 0.00% | — | 1y ago |
| 3E0x3e6c…e384 | For | 0.1 | 0.00% | — | 1y ago |
| 250x252b…c23a | Against | 0.1 | 0.00% | — | 1y ago |
| 540x5469…dfb0 | For | 0.1 | 0.00% | — | 1y ago |
| 940x940a…15e7 | Against | 0.1 | 0.00% | — | 1y ago |
| 580x5826…be5e | Against | 0.1 | 0.00% | — | 1y ago |
| 900x9002…2c41 | Abstain | 0.1 | 0.00% | — | 1y ago |
| D90xd926…867c | Against | 0.1 | 0.00% | — | 1y ago |
| D80xd8de…ae41 | For | 0.1 | 0.00% | — | 1y ago |
| E60xe6b4…2704 | For | 0 | 0.00% | — | 1y ago |
| 6A0x6a5f…bcc8 | For | 0 | 0.00% | — | 1y ago |
| 390x3951…e9d9 | For | 0 | 0.00% | — | 1y ago |
| 180x18bf…1ea8 | For | 0 | 0.00% | — | 1y ago |
| 880x88f6…0ec0 | For | 0 | 0.00% | — | 1y ago |
| F20xf2e8…bee4 | For | 0 | 0.00% | — | 1y ago |
| 7B0x7bb5…e344 | For | 0 | 0.00% | — | 1y ago |
| 4D0x4ddc…2c68 | For | 0 | 0.00% | — | 1y ago |
| 620x6222…2481 | For | 0 | 0.00% | — | 1y ago |
| C60xc6ba…2536 | For | 0 | 0.00% | — | 1y ago |
| 8A0x8aee…5370 | For | 0 | 0.00% | — | 1y ago |
| A30xa3f9…a4e6 | For | 0 | 0.00% | — | 1y ago |
| 070x0784…f65e | For | 0 | 0.00% | — | 1y ago |
| 1F0x1f29…0b2f | For | 0 | 0.00% | — | 1y ago |
| 5A0x5ad7…1d5f | For | 0 | 0.00% | — | 1y ago |
| 110x119e…6e4c | For | 0 | 0.00% | — | 1y ago |
| 360x36ba…b435 | For | 0 | 0.00% | — | 1y ago |
| F80xf83a…5350 | Against | 0 | 0.00% | — | 1y ago |
| E50xe5bd…7091 | For | 0 | 0.00% | — | 1y ago |
07Forum
- [Gauntlet] tBTC Recommendations across comets (12/6/24) ↗discourse · high confidence
Arguments for
- tBTC collateral addition on Arbitrum improves capital efficiency by enabling users to use tBTC as collateral across USDC and USDT markets with reasonable risk parameters.— Gauntlet, dmitriywoofsoftware
- The recommended parameters (80% collateral factor, 85% liquidation factor, 10% liquidation penalty, 80 tBTC supply cap) are appropriately calibrated for safe market integration.— Gauntlet, dmitriywoofsoftware
- All technical implementation testing has passed successfully, including Slither, Forge tests, Tenderly simulations, and enactment checks across mainnet and Arbitrum.— dmitriywoofsoftware
- tBTC has demonstrated sufficient liquidity and trading activity on Arbitrum (as evidenced by example swap screenshots) to support market listing.— Gauntlet
Arguments against
None surfaced.
Unresolved concerns
- The thread remained stalled for an extended period between February 2025 and September 2025 with unclear reasons for the delay in proposal advancement.— FREDY, satisfiend
Notable participants
- GauntletRisk analysis provider who authored the initial tBTC parameter recommendations across all comets.
- dmitriywoofsoftwareImplementation lead from WOOF who developed, tested, and submitted the technical proposals for both Arbitrum USDC and USDT markets.
- FREDYCommunity member who questioned the requirements for proposal advancement.
- satisfiendCommunity observer who noted the proposal had stalled compared to similar governance initiatives.
Generated by Kvorum
08Similar proposals
- compoundexecutedAdd tBTC as collateral into cUSDCv3 on Arbitrum100%
- compounddefeatedAdd tBTC as collateral into cUSDCv3 on Arbitrum100%
- compoundexecutedAdd tBTC as collateral into cUSDTv3 on Arbitrum99%
- compoundexecutedAdd tBTC as collateral into cUSDCv3 on Base89%
- compoundexecutedAdd tETH as collaterals into cUSDCv3, cUSDTv3 and cWETHv3 on Arbitrum89%
- compoundexecutedAdd tBTC as collateral into cUSDCv3 on Mainnet88%
- compoundexecutedAdd USDT and USDC as collateral into cWETHv3 on Arbitrum88%
- compoundexecutedAdd WBTC as collateral into cWETHv3 on Arbitrum87%
- compoundexecutedAdd tBTC as collateral into cUSDTv3 on Mainnet87%
- compoundexecutedAdd ezETH as collateral into cUSDCv3 on Arbitrum84%