KVORUM
compoundSource: Compound governor oz · #493

[Gauntlet] - Risk & Supply Cap Recommendations for Mainnet Stablecoin Comets

executedNov 12, 2025, 10:38 AM UTCbyD20xd2a7…5a0c

01Summary

AISummary by Kvorumclaude-haiku-4-5

Gauntlet recommends updating risk parameters and supply caps for stablecoin Comets (USDC, USDS, USDT) on mainnet. The proposal modifies asset configurations including collateral factors, liquidation factors, and supply caps across three Comet markets, and deploys configurator upgrades.

Type
parameter change

Key changes

  • Update asset configurations for USDC (0x15700B564Ca08D9439C58cA5053166E8317aa138) and USDS (0x5C5b196aBE0d54485975D1Ec29617D42D9198326) across three Comet markets with supply caps of 100000000000000 and collateral factor of 920000000000000000(high)
  • Update liquidation factor for cbBTC (0xcbB7C0000aB88B473b1f5aFd9ef808440eed33Bf) to 900000000000000000 in USDC Comet market(medium)
  • Update stETH (0x7f39C581F595B53c5cb19bD0b3f8dA6c935E2Ca0) asset configuration with collateral factor 860000000000000000, liquidation factor 910000000000000000, and supply cap of 75000000000000000000000 in two Comet markets(high)
  • Set supply cap for cbBTC (0xcbB7C0000aB88B473b1f5aFd9ef808440eed33Bf) to 50000000000 in secondary Comet market(medium)
  • Deploy and upgrade configurator implementations across three Comet markets(high)

Notable concerns

  • Proposal requires implementation of specific risk parameters recommended by Gauntlet; detailed analysis and rationale available in linked forum discussions
  • Multiple asset configurations and upgrades across different Comet markets increase complexity of changes
Contracts0x316f9708bb98af7da9c68c1c3b5e79039cd336e30x1ec63b5883c3481134fd50d5daebc83ecd2e87790xc3d688B66703497DAA19211EEdff47f25384cdc30x3Afdc9BCA9213A35503b077a6072F3D0d5AB08400x5D409e56D886231aDAf00c8775665AD0f9897b56
Generated by Kvorum
model: claude-haiku-4-5
provider: anthropic
profile: anthropic-fast-v1
prompt: v1.0
generated: 2mo ago
Read the description ↗

02Description

74 words

[Gauntlet] - Risk & Supply Cap Recommendations for Mainnet Stablecoin Comets

Simple Summary

Gauntlet recommends the following adjustments to the protocol:

Motivation

Full proposals and forum discussions can be found in the following posts. - https://www.comp.xyz/t/gauntlet-risk-parameters-supply-cap-recommendations-for-mainnet-usdc-usds-and-usdt-comets/7372

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 Kvorumlow confidenceclaude-sonnet-5
Consistent

The proposal description is extremely high-level: it only states that Gauntlet recommends risk and supply-cap parameter adjustments for the mainnet stablecoin Comets (USDC, USDT, USDS) and that these will be executed via the Configurator's standard methods, deferring exact figures to an external forum post. The decoded calldata consists entirely of Configurator calls (updateAsset, updateAssetLiquidationFactor, updateAssetSupplyCap) targeting the three stablecoin Comet proxies (USDC, USDT, USDS), followed by the expected deployAndUpgradeTo calls that apply the configuration changes to each Comet - this is exactly the mechanism the description says will be used. Because the description contains no specific numeric values, asset addresses, or caps to check against the calldata, there is no basis to flag a value_mismatch, target_mismatch, or misleading_phrasing - the prose is a summary/pointer to off-chain detail rather than a specific technical claim. All calldata actions are consistent in kind and target (Configurator + Comet proxies) with what the description promises, and the deployAndUpgradeTo calls are routine mechanics needed to apply Configurator changes, which is standard and expected, not a hidden action. Given the vagueness, confidence in this comparison is low, but nothing in the calldata contradicts the description, so I classify this as consistent rather than a discrepancy of any kind.

Generated by Kvorum
model: claude-sonnet-5
provider: anthropic
profile: anthropic-strong-v1
prompt: v1.0
generated: 2mo ago
Review the decoded actions ↗

04Actions

13 total
#0updateAsset(address,(address,address,uint8,uint64,uint64,uint64,uint128))chain 0x1
Target
0x316f…36e3
Value
0 wei
Function
updateAsset(address,(address,address,uint8,uint64,uint64,uint64,uint128))
Arguments
{
  "cometProxy": "0xc3d688B66703497DAA19211EEdff47f25384cdc3",
  "newAssetConfig": [
    "0x15700B564Ca08D9439C58cA5053166E8317aa138",
    "0x7BaDaB7109afBbF48eCd8d6498CaAcd2630b45B9",
    "18",
    "0",
    "100000000000000",
    "920000000000000000",
    "0"
  ]
}
Calldata
#1updateAsset(address,(address,address,uint8,uint64,uint64,uint64,uint128))chain 0x1
Target
0x316f…36e3
Value
0 wei
Function
updateAsset(address,(address,address,uint8,uint64,uint64,uint64,uint128))
Arguments
{
  "cometProxy": "0xc3d688B66703497DAA19211EEdff47f25384cdc3",
  "newAssetConfig": [
    "0x5C5b196aBE0d54485975D1Ec29617D42D9198326",
    "0x7BaDaB7109afBbF48eCd8d6498CaAcd2630b45B9",
    "18",
    "0",
    "100000000000000",
    "920000000000000000",
    "0"
  ]
}
Calldata
#2updateAsset(address,(address,address,uint8,uint64,uint64,uint64,uint128))chain 0x1
Target
0x316f…36e3
Value
0 wei
Function
updateAsset(address,(address,address,uint8,uint64,uint64,uint64,uint128))
Arguments
{
  "cometProxy": "0x3Afdc9BCA9213A35503b077a6072F3D0d5AB0840",
  "newAssetConfig": [
    "0x15700B564Ca08D9439C58cA5053166E8317aa138",
    "0x7BaDaB7109afBbF48eCd8d6498CaAcd2630b45B9",
    "18",
    "0",
    "100000000000000",
    "920000000000000000",
    "0"
  ]
}
Calldata
#3updateAsset(address,(address,address,uint8,uint64,uint64,uint64,uint128))chain 0x1
Target
0x316f…36e3
Value
0 wei
Function
updateAsset(address,(address,address,uint8,uint64,uint64,uint64,uint128))
Arguments
{
  "cometProxy": "0x3Afdc9BCA9213A35503b077a6072F3D0d5AB0840",
  "newAssetConfig": [
    "0x5C5b196aBE0d54485975D1Ec29617D42D9198326",
    "0x7BaDaB7109afBbF48eCd8d6498CaAcd2630b45B9",
    "18",
    "0",
    "100000000000000",
    "920000000000000000",
    "0"
  ]
}
Calldata
#4updateAsset(address,(address,address,uint8,uint64,uint64,uint64,uint128))chain 0x1
Target
0x316f…36e3
Value
0 wei
Function
updateAsset(address,(address,address,uint8,uint64,uint64,uint64,uint128))
Arguments
{
  "cometProxy": "0x5D409e56D886231aDAf00c8775665AD0f9897b56",
  "newAssetConfig": [
    "0x15700B564Ca08D9439C58cA5053166E8317aa138",
    "0x7BaDaB7109afBbF48eCd8d6498CaAcd2630b45B9",
    "18",
    "0",
    "100000000000000",
    "920000000000000000",
    "0"
  ]
}
Calldata
#5updateAsset(address,(address,address,uint8,uint64,uint64,uint64,uint128))chain 0x1
Target
0x316f…36e3
Value
0 wei
Function
updateAsset(address,(address,address,uint8,uint64,uint64,uint64,uint128))
Arguments
{
  "cometProxy": "0x5D409e56D886231aDAf00c8775665AD0f9897b56",
  "newAssetConfig": [
    "0x5C5b196aBE0d54485975D1Ec29617D42D9198326",
    "0x7BaDaB7109afBbF48eCd8d6498CaAcd2630b45B9",
    "18",
    "0",
    "100000000000000",
    "920000000000000000",
    "0"
  ]
}
Calldata
#6updateAssetLiquidationFactor(address,address,uint64)chain 0x1
Target
0x316f…36e3
Value
0 wei
Function
updateAssetLiquidationFactor(address,address,uint64)
Arguments
{
  "asset": "0xcbB7C0000aB88B473b1f5aFd9ef808440eed33Bf",
  "cometProxy": "0xc3d688B66703497DAA19211EEdff47f25384cdc3",
  "newLiquidationFactor": "900000000000000000"
}
Calldata
#7updateAsset(address,(address,address,uint8,uint64,uint64,uint64,uint128))chain 0x1
Target
0x316f…36e3
Value
0 wei
Function
updateAsset(address,(address,address,uint8,uint64,uint64,uint64,uint128))
Arguments
{
  "cometProxy": "0xc3d688B66703497DAA19211EEdff47f25384cdc3",
  "newAssetConfig": [
    "0x7f39C581F595B53c5cb19bD0b3f8dA6c935E2Ca0",
    "0xA2699232B341881B1Ed85d91592b7c259E029aCf",
    "18",
    "820000000000000000",
    "860000000000000000",
    "910000000000000000",
    "75000000000000000000000"
  ]
}
Calldata
#8updateAsset(address,(address,address,uint8,uint64,uint64,uint64,uint128))chain 0x1
Target
0x316f…36e3
Value
0 wei
Function
updateAsset(address,(address,address,uint8,uint64,uint64,uint64,uint128))
Arguments
{
  "cometProxy": "0x3Afdc9BCA9213A35503b077a6072F3D0d5AB0840",
  "newAssetConfig": [
    "0x7f39C581F595B53c5cb19bD0b3f8dA6c935E2Ca0",
    "0xA2699232B341881B1Ed85d91592b7c259E029aCf",
    "18",
    "820000000000000000",
    "860000000000000000",
    "910000000000000000",
    "75000000000000000000000"
  ]
}
Calldata
#9updateAssetSupplyCap(address,address,uint128)chain 0x1
Target
0x316f…36e3
Value
0 wei
Function
updateAssetSupplyCap(address,address,uint128)
Arguments
{
  "asset": "0xcbB7C0000aB88B473b1f5aFd9ef808440eed33Bf",
  "cometProxy": "0x3Afdc9BCA9213A35503b077a6072F3D0d5AB0840",
  "newSupplyCap": "50000000000"
}
Calldata
#10deployAndUpgradeTo(address,address)chain 0x1
Target
0x1ec6…8779
Value
0 wei
Function
deployAndUpgradeTo(address,address)
Arguments
{
  "cometProxy": "0x5D409e56D886231aDAf00c8775665AD0f9897b56",
  "configuratorProxy": "0x316f9708bB98af7dA9c68C1C3b5e79039cD336E3"
}
Calldata
#11deployAndUpgradeTo(address,address)chain 0x1
Target
0x1ec6…8779
Value
0 wei
Function
deployAndUpgradeTo(address,address)
Arguments
{
  "cometProxy": "0xc3d688B66703497DAA19211EEdff47f25384cdc3",
  "configuratorProxy": "0x316f9708bB98af7dA9c68C1C3b5e79039cD336E3"
}
Calldata
#12deployAndUpgradeTo(address,address)chain 0x1
Target
0x1ec6…8779
Value
0 wei
Function
deployAndUpgradeTo(address,address)
Arguments
{
  "cometProxy": "0x3Afdc9BCA9213A35503b077a6072F3D0d5AB0840",
  "configuratorProxy": "0x316f9708bB98af7dA9c68C1C3b5e79039cD336E3"
}
Calldata

05Tally

Summed from votes

Voters149
VP participating467.5K
Outcome (current)For
Current support100%

06Voters

149 total
Filter:
VoterChoice% of totalRationale
3F0x3fb1…4c8aFor104.8K22.41%—1y ago
660x66cd…65f9For80.3K17.18%—1y ago
B30xb356…c826For51.1K10.93%—1y ago
050x0579…ca09For50K10.69%—1y ago
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Showing 50

07Forum

AIForum synthesis by Kvorumclaude-haiku-4-5
sentiment · favorablethread · constructive

Arguments for

  • Reducing cbBTC supply cap from 1,000 to 500 on Mainnet USDT aligns with demonstrated low user demand (consistently below 20% utilization over 30 days) and reduces risk exposure.— Gauntlet
  • Setting deUSD and sdeUSD collateral factors and liquidation factors to 0 across USDC/USDS/USDT comets is a prudent precaution given the sunsetting of Elixir tokens to prevent further risk.— Gauntlet
  • Increasing cbBTC liquidation penalty to 10% aligns it with other Bitcoin market parameters and standardizes risk across the protocol.— Gauntlet
  • Increasing wstETH collateral factor to 82% and liquidation factor to 86% stimulates market growth and attracts more users while maintaining appropriate risk buffers.— Gauntlet

Arguments against

None surfaced.

Notable participants

  • GauntletRisk analysis team proposing the mainnet stablecoin comet parameter adjustments based on utilization data and token sunsetting events.
Generated by Kvorum
model: claude-haiku-4-5
provider: anthropic
profile: anthropic-fast-v1
prompt: v1.0
generated: 2mo ago
Open the thread ↗