compoundSource: Compound governor oz · #491
[Gauntlet] Risk Parameter Recommendations for deUSD & sdeUSD
executedNov 3, 2025, 10:10 AM UTCby680x683a…6c02
01Summary
AISummary by Kvorumclaude-haiku-4-5
Gauntlet proposes to eliminate supply caps for deUSD and sdeUSD tokens across all Ethereum Comet markets (USDC, USDT, USDS) and increase liquidation penalties from 4-6% to 8% for both assets to reduce protocol risk.
- Type
- parameter change
Key changes
- Set supply cap to 0 for deUSD across all three Comet markets (USDC, USDT, USDS), reducing from 8,000,000(high)
- Set supply cap to 0 for sdeUSD across all three Comet markets (USDC, USDT, USDS), reducing from 5,000,000(high)
- Increase liquidation penalty for deUSD from 4% to 8% on USDC and USDT markets, and from 6% to 8% on USDS market(high)
- Increase liquidation penalty for sdeUSD from 4% to 8% on USDC and USDT markets, and from 6% to 8% on USDS market(high)
Notable concerns
- Complete elimination of supply caps for deUSD and sdeUSD removes ability to supply these assets to the protocol
- Liquidation penalty increases reduce borrower incentives and may impact positions
- Changes applied across multiple Comet instances requiring coordinated configurator updates
Contracts0xc3d688B66703497DAA19211EEdff47f25384cdc30x5D409e56D886231aDAf00c8775665AD0f9897b560x3Afdc9BCA9213A35503b077a6072F3D0d5AB08400x316f9708bb98af7da9c68c1c3b5e79039cd336e3
Generated by Kvorum
model: claude-haiku-4-5
provider: anthropic
profile: anthropic-fast-v1
prompt: v1.0
generated: 2mo ago
02Description
359 words
[Gauntlet] Risk Parameter Recommendations for deUSD & sdeUSD
Simple Summary
Supply Cap Recommendations
| Status | Comet | Asset | Supply Cap |
|---|---|---|---|
| Current | Ethereum USDC | deUSD | 8,000,000 |
| Proposed | Ethereum USDC | deUSD | 0 |
| Current | Ethereum USDC | sdeUSD | 5,000,000 |
| Proposed | Ethereum USDC | sdeUSD | 0 |
| Current | Ethereum USDT | deUSD | 8,000,000 |
| Proposed | Ethereum USDT | deUSD | 0 |
| Current | Ethereum USDT | sdeUSD | 5,000,000 |
| Proposed | Ethereum USDT | sdeUSD | 0 |
| Current | Ethereum USDS | deUSD | 8,000,000 |
| Proposed | Ethereum USDS | deUSD | 0 |
| Current | Ethereum USDS | sdeUSD | 5,000,000 |
| Proposed | Ethereum USDS | sdeUSD | 0 |
Risk Parameter Recommendations
| Status | Comet | Asset | Liquidation Penalty(LP) |
|---|---|---|---|
| Current | Ethereum USDC | deUSD | 4% |
| Proposed | Ethereum USDC | deUSD | 8% |
| Current | Ethereum USDC | sdeUSD | 4% |
| Proposed | Ethereum USDC | sdeUSD | 8% |
| Current | Ethereum USDT | deUSD | 4% |
| Proposed | Ethereum USDT | deUSD | 8% |
| Current | Ethereum USDT | sdeUSD | 4% |
| Proposed | Ethereum USDT | sdeUSD | 8% |
| Current | Ethereum USDS | deUSD | 6% |
| Proposed | Ethereum USDS | deUSD | 8% |
| Current | Ethereum USDS | sdeUSD | 6% |
| Proposed | Ethereum USDS | sdeUSD | 8% |
Motivation
Full proposals and forum discussions can be found in the following posts.
Specification
The proposal updates the parameters by using the respective methods on the Configurator.
By approving this proposal, you agree that any services provided by Gauntlet shall be governed by the terms of service available at gauntlet.xyz/tos
03Mismatch analysis
AIMismatch analysis by Kvorum
A calldata-vs-description analysis is not generated yet. Review the decoded actions →
04Actions
15 total
#0updateAssetSupplyCap(address,address,uint128)chain 0x1
- Target
- 0x316f…36e3
- Value
- 0 wei
- Function
- updateAssetSupplyCap(address,address,uint128)
- Arguments
{ "asset": "0x15700B564Ca08D9439C58cA5053166E8317aa138", "cometProxy": "0xc3d688B66703497DAA19211EEdff47f25384cdc3", "newSupplyCap": "0" }- Calldata
#1updateAssetSupplyCap(address,address,uint128)chain 0x1
- Target
- 0x316f…36e3
- Value
- 0 wei
- Function
- updateAssetSupplyCap(address,address,uint128)
- Arguments
{ "asset": "0x5C5b196aBE0d54485975D1Ec29617D42D9198326", "cometProxy": "0xc3d688B66703497DAA19211EEdff47f25384cdc3", "newSupplyCap": "0" }- Calldata
#2deployAndUpgradeTo(address,address)chain 0x1
- Target
- 0x1ec6…8779
- Value
- 0 wei
- Function
- deployAndUpgradeTo(address,address)
- Arguments
{ "cometProxy": "0xc3d688B66703497DAA19211EEdff47f25384cdc3", "configuratorProxy": "0x316f9708bB98af7dA9c68C1C3b5e79039cD336E3" }- Calldata
#3updateAssetSupplyCap(address,address,uint128)chain 0x1
- Target
- 0x316f…36e3
- Value
- 0 wei
- Function
- updateAssetSupplyCap(address,address,uint128)
- Arguments
{ "asset": "0x15700B564Ca08D9439C58cA5053166E8317aa138", "cometProxy": "0x5D409e56D886231aDAf00c8775665AD0f9897b56", "newSupplyCap": "0" }- Calldata
#4updateAssetSupplyCap(address,address,uint128)chain 0x1
- Target
- 0x316f…36e3
- Value
- 0 wei
- Function
- updateAssetSupplyCap(address,address,uint128)
- Arguments
{ "asset": "0x5C5b196aBE0d54485975D1Ec29617D42D9198326", "cometProxy": "0x5D409e56D886231aDAf00c8775665AD0f9897b56", "newSupplyCap": "0" }- Calldata
#5deployAndUpgradeTo(address,address)chain 0x1
- Target
- 0x1ec6…8779
- Value
- 0 wei
- Function
- deployAndUpgradeTo(address,address)
- Arguments
{ "cometProxy": "0x5D409e56D886231aDAf00c8775665AD0f9897b56", "configuratorProxy": "0x316f9708bB98af7dA9c68C1C3b5e79039cD336E3" }- Calldata
#6updateAssetSupplyCap(address,address,uint128)chain 0x1
- Target
- 0x316f…36e3
- Value
- 0 wei
- Function
- updateAssetSupplyCap(address,address,uint128)
- Arguments
{ "asset": "0x15700B564Ca08D9439C58cA5053166E8317aa138", "cometProxy": "0x3Afdc9BCA9213A35503b077a6072F3D0d5AB0840", "newSupplyCap": "0" }- Calldata
#7updateAssetSupplyCap(address,address,uint128)chain 0x1
- Target
- 0x316f…36e3
- Value
- 0 wei
- Function
- updateAssetSupplyCap(address,address,uint128)
- Arguments
{ "asset": "0x5C5b196aBE0d54485975D1Ec29617D42D9198326", "cometProxy": "0x3Afdc9BCA9213A35503b077a6072F3D0d5AB0840", "newSupplyCap": "0" }- Calldata
#8deployAndUpgradeTo(address,address)chain 0x1
- Target
- 0x1ec6…8779
- Value
- 0 wei
- Function
- deployAndUpgradeTo(address,address)
- Arguments
{ "cometProxy": "0x3Afdc9BCA9213A35503b077a6072F3D0d5AB0840", "configuratorProxy": "0x316f9708bB98af7dA9c68C1C3b5e79039cD336E3" }- Calldata
#9updateAssetLiquidationFactor(address,address,uint64)chain 0x1
- Target
- 0x316f…36e3
- Value
- 0 wei
- Function
- updateAssetLiquidationFactor(address,address,uint64)
- Arguments
{ "asset": "0x15700B564Ca08D9439C58cA5053166E8317aa138", "cometProxy": "0xc3d688B66703497DAA19211EEdff47f25384cdc3", "newLiquidationFactor": "920000000000000000" }- Calldata
#10updateAssetLiquidationFactor(address,address,uint64)chain 0x1
- Target
- 0x316f…36e3
- Value
- 0 wei
- Function
- updateAssetLiquidationFactor(address,address,uint64)
- Arguments
{ "asset": "0x5C5b196aBE0d54485975D1Ec29617D42D9198326", "cometProxy": "0xc3d688B66703497DAA19211EEdff47f25384cdc3", "newLiquidationFactor": "920000000000000000" }- Calldata
#11updateAssetLiquidationFactor(address,address,uint64)chain 0x1
- Target
- 0x316f…36e3
- Value
- 0 wei
- Function
- updateAssetLiquidationFactor(address,address,uint64)
- Arguments
{ "asset": "0x15700B564Ca08D9439C58cA5053166E8317aa138", "cometProxy": "0x5D409e56D886231aDAf00c8775665AD0f9897b56", "newLiquidationFactor": "920000000000000000" }- Calldata
#12updateAssetLiquidationFactor(address,address,uint64)chain 0x1
- Target
- 0x316f…36e3
- Value
- 0 wei
- Function
- updateAssetLiquidationFactor(address,address,uint64)
- Arguments
{ "asset": "0x5C5b196aBE0d54485975D1Ec29617D42D9198326", "cometProxy": "0x5D409e56D886231aDAf00c8775665AD0f9897b56", "newLiquidationFactor": "920000000000000000" }- Calldata
#13updateAssetLiquidationFactor(address,address,uint64)chain 0x1
- Target
- 0x316f…36e3
- Value
- 0 wei
- Function
- updateAssetLiquidationFactor(address,address,uint64)
- Arguments
{ "asset": "0x15700B564Ca08D9439C58cA5053166E8317aa138", "cometProxy": "0x3Afdc9BCA9213A35503b077a6072F3D0d5AB0840", "newLiquidationFactor": "920000000000000000" }- Calldata
#14updateAssetLiquidationFactor(address,address,uint64)chain 0x1
- Target
- 0x316f…36e3
- Value
- 0 wei
- Function
- updateAssetLiquidationFactor(address,address,uint64)
- Arguments
{ "asset": "0x5C5b196aBE0d54485975D1Ec29617D42D9198326", "cometProxy": "0x3Afdc9BCA9213A35503b077a6072F3D0d5AB0840", "newLiquidationFactor": "920000000000000000" }- Calldata
05Tally
Summed from votes
Against7.4%51.1K
For92.6%642.2K
Abstain0.0%0.2
Voters112
VP participating693.3K
Outcome (current)For
Current support92.6%
06Voters
112 total
Filter:
| Voter | Choice | % of total | Rationale | ||
|---|---|---|---|---|---|
| 3F0x3fb1…4c8a | For | 104.8K | 15.12% | — | 1y ago |
| 360x36cc…ffc6 | For | 87.6K | 12.64% | — | 1y ago |
| 660x66cd…65f9 | For | 80.3K | 11.59% | — | 1y ago |
| B30xb356…c826 | Against | 51.1K | 7.36% | — | 1y ago |
| 2B0x2b38…bf33 | For | 50K | 7.22% | — | 1y ago |
| 050x0579…ca09 | For | 50K | 7.21% | — | 1y ago |
| 9D0x9d03…ec31 | For | 40K | 5.77% | — | 1y ago |
| 930x93cb…1a08 | For | 39.2K | 5.65% | — | 1y ago |
| 070x0703…961b | For | 30K | 4.33% | — | 1y ago |
| 130x13bd…8548 | For | 30K | 4.33% | — | 1y ago |
| B40xb49f…7948 | For | 30K | 4.33% | — | 1y ago |
| 480x4880…422c | For | 25K | 3.61% | — | 1y ago |
| B30xb318…ce1b | For | 25K | 3.60% | — | 1y ago |
| 4F0x4f3a…4a51 | For | 24.9K | 3.59% | — | 1y ago |
| 0B0x0b58…00f8 | For | 24.7K | 3.56% | — | 1y ago |
| B90xb933…8dd1 | For | 682.9 | 0.10% | — | 1y ago |
| C50xc554…7759 | For | 11.2 | 0.00% | — | 1y ago |
| 8B0x8bb9…ccc2 | Against | 1.1 | 0.00% | — | 1y ago |
| 010x0151…c3b9 | For | 1.1 | 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 | Abstain | 0.1 | 0.00% | — | 1y ago |
| 3E0x3e6c…e384 | Against | 0.1 | 0.00% | — | 1y ago |
| 250x252b…c23a | Against | 0.1 | 0.00% | — | 1y ago |
| 940x940a…15e7 | Against | 0.1 | 0.00% | — | 1y ago |
| 580x5826…be5e | For | 0.1 | 0.00% | — | 1y ago |
| 900x9002…2c41 | For | 0.1 | 0.00% | — | 1y ago |
| 560x5695…c581 | For | 0.1 | 0.00% | — | 1y ago |
| 7F0x7f21…31e0 | For | 0.1 | 0.00% | — | 1y ago |
| D80xd8de…ae41 | For | 0.1 | 0.00% | — | 1y ago |
| 950x95d2…88f9 | For | 0 | 0.00% | — | 1y ago |
| C40xc4cd…47bc | For | 0 | 0.00% | — | 1y ago |
| A00xa0d0…604a | For | 0 | 0.00% | — | 1y ago |
| 150x1523…080f | For | 0 | 0.00% | — | 1y ago |
| 930x93e0…f6ee | For | 0 | 0.00% | — | 1y ago |
| 4D0x4d12…7d7c | For | 0 | 0.00% | — | 1y ago |
| A60xa6ac…2bf3 | For | 0 | 0.00% | — | 1y ago |
| 210x21ff…c5a8 | For | 0 | 0.00% | — | 1y ago |
| E60xe6b8…452d | For | 0 | 0.00% | — | 1y ago |
| E80xe8ee…0877 | For | 0 | 0.00% | — | 1y ago |
| 140x1475…6e15 | For | 0 | 0.00% | — | 1y ago |
| D20xd248…32ae | For | 0 | 0.00% | — | 1y ago |
| 7A0x7a04…17a8 | For | 0 | 0.00% | — | 1y ago |
| EE0xee2a…58a7 | For | 0 | 0.00% | — | 1y ago |
| 380x38dc…472d | For | 0 | 0.00% | — | 1y ago |
| D70xd712…1366 | For | 0 | 0.00% | — | 1y ago |
| AC0xacc9…0b28 | For | 0 | 0.00% | — | 1y ago |
| BE0xbef8…9999 | For | 0 | 0.00% | — | 1y ago |
| ED0xed4c…9508 | For | 0 | 0.00% | — | 1y ago |
Showing 50
07Forum
- [Gauntlet] Risk Parameter Recommendations for deUSD & sdeUSD ↗discourse · high confidence
AIForum synthesis by Kvorumclaude-haiku-4-5
sentiment · mixedthread · mixed
Arguments for
- Increasing liquidation penalties for deUSD and sdeUSD to 8% better aligns liquidation incentives and safeguards protocol solvency under stressed market conditions.— Gauntlet
Arguments against
- Setting supply caps to zero has no practical effect since supplies are already maxed out and does not address the heightened risks that require immediate adjustments to collateral factor, liquidation factor, and liquidation penalty.— Humpy
Unresolved concerns
- Whether lowering collateral factor and liquidation factor for deUSD and sdeUSD should have been addressed in addition to or instead of liquidation penalty increases.— Humpy
- What specific backing concerns regarding deUSD prompted the precautionary supply cap changes and what monitoring and analysis will determine when caps can be restored.— Gauntlet
Notable participants
- GauntletRisk analysis firm proposing supply cap reductions and liquidation penalty increases for deUSD and sdeUSD.
- HumpyCommunity member advocating for more aggressive risk parameter reductions including collateral factor and liquidation factor adjustments.
Generated by Kvorum
model: claude-haiku-4-5
provider: anthropic
profile: anthropic-fast-v1
prompt: v1.0
generated: 2mo ago
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