Add USDC, USDT, WETH and weETH as collaterals into cWstETHv3 on Mainnet
01Summary
Add USDC, USDT, WETH, and weETH as collateral assets to the cWstETHv3 market on Ethereum mainnet with risk parameters recommended by Gauntlet, and upgrade Comet to a new version.
- Type
- protocol addition
Key changes
- Add USDC (0xA0b86991c6218b36c1d19D4a2e9Eb0cE3606eB48) as collateral with collateral factor 0.83, liquidation threshold 0.90, and max supply 10 trillion units(high)
- Add USDT (0xdAC17F958D2ee523a2206206994597C13D831ec7) as collateral with collateral factor 0.83, liquidation threshold 0.90, and max supply 15 trillion units(high)
- Add WETH (0xC02aaA39b223FE8D0A0e5C4F27eAD9083C756Cc2) as collateral with collateral factor 0.93, liquidation threshold 0.96, and max supply 100,000 units(high)
- Add weETH (0xCd5fE23C85820F7B72D0926FC9b05b43E359b7ee) as collateral with collateral factor 0.93, liquidation threshold 0.96, and max supply 10,000 units(high)
- Upgrade Comet to a new version via deployAndUpgradeTo function(medium)
Generated by Kvorum
02Description
Add USDC, USDT, WETH and weETH as collaterals into cWstETHv3 on Mainnet
Proposal summary
WOOF proposes to add USDC, USDT, WETH and weETH into cWstETHv3 on Ethereum network. This proposal takes the governance steps recommended and necessary to update a Compound III wstETH market on Ethereum. 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 on the recommendations from Gauntlet.
Further detailed information can be found on the corresponding proposal pull request and forum discussion.
Proposal Actions
The first action adds USDC asset as collateral with corresponding configurations.
The second action adds USDT asset as collateral with corresponding configurations.
The third action adds WETH asset as collateral with corresponding configurations.
The fourth action adds weETH asset as collateral with corresponding configurations.
The fifth action upgrades Comet to a new version.
03Mismatch analysis
The description lists five actions: adding USDC, USDT, WETH, and weETH as collateral to cWstETHv3, followed by a Comet upgrade. The decoded calldata contains exactly five actions in the same order: four addAsset calls on the Configurator targeting the same cometProxy (0x3D0bb1...), each corresponding to the token addresses for USDC, USDT, WETH, and weETH respectively, followed by a deployAndUpgradeTo call that upgrades the Comet implementation for the same proxy. The token addresses map correctly to the named assets (USDC, USDT canonical mainnet addresses, WETH, and weETH), and the final action matches the described 'upgrade Comet to a new version' step. The description does not make specific numeric claims about collateral factors or supply caps (it defers to Gauntlet's recommendations linked in the forum), so there is no basis to flag a value mismatch on those parameters. All targets, action count, and action sequence align with the prose. No omissions, extra actions, or misleading characterizations were found.}
Generated by Kvorum
04Actions
- Target
- 0x316f…36e3
- Value
- 0 wei
- Function
- addAsset(address,(address,address,uint8,uint64,uint64,uint64,uint128))
- Arguments
{ "cometProxy": "0x3D0bb1ccaB520A66e607822fC55BC921738fAFE3", "assetConfig": [ "0xA0b86991c6218b36c1d19D4a2e9Eb0cE3606eB48", "0x04eAB657b065238aA67C3879f4d71BfdD09C2796", "6", "800000000000000000", "830000000000000000", "900000000000000000", "10000000000000" ] }- Calldata
- Target
- 0x316f…36e3
- Value
- 0 wei
- Function
- addAsset(address,(address,address,uint8,uint64,uint64,uint64,uint128))
- Arguments
{ "cometProxy": "0x3D0bb1ccaB520A66e607822fC55BC921738fAFE3", "assetConfig": [ "0xdAC17F958D2ee523a2206206994597C13D831ec7", "0x0746928E47f858944D189996829Ca711f64461a7", "6", "800000000000000000", "830000000000000000", "900000000000000000", "15000000000000" ] }- Calldata
- Target
- 0x316f…36e3
- Value
- 0 wei
- Function
- addAsset(address,(address,address,uint8,uint64,uint64,uint64,uint128))
- Arguments
{ "cometProxy": "0x3D0bb1ccaB520A66e607822fC55BC921738fAFE3", "assetConfig": [ "0xC02aaA39b223FE8D0A0e5C4F27eAD9083C756Cc2", "0xe51a17c21B4CD878CdAE305df9baCC3477425282", "18", "900000000000000000", "930000000000000000", "960000000000000000", "100000000000000000000000" ] }- Calldata
- Target
- 0x316f…36e3
- Value
- 0 wei
- Function
- addAsset(address,(address,address,uint8,uint64,uint64,uint64,uint128))
- Arguments
{ "cometProxy": "0x3D0bb1ccaB520A66e607822fC55BC921738fAFE3", "assetConfig": [ "0xCd5fE23C85820F7B72D0926FC9b05b43E359b7ee", "0xF1cEe2A82Cc42246c8C38253f118AbB6cAAd715B", "18", "900000000000000000", "930000000000000000", "960000000000000000", "10000000000000000000000" ] }- Calldata
- Target
- 0x1ec6…8779
- Value
- 0 wei
- Function
- deployAndUpgradeTo(address,address)
- Arguments
{ "cometProxy": "0x3D0bb1ccaB520A66e607822fC55BC921738fAFE3", "configuratorProxy": "0x316f9708bB98af7dA9c68C1C3b5e79039cD336E3" }- Calldata
05Tally
Summed from votes
06Voters
| Voter | Choice | % of total | Rationale | ||
|---|---|---|---|---|---|
| 3F0x3fb1…4c8a | For | 104.8K | 0.00% | — | 1y ago |
| 360x36cc…ffc6 | For | 87.6K | 0.00% | — | 1y ago |
| 660x66cd…65f9 | For | 80.3K | 0.00% | — | 1y ago |
| B30xb356…c826 | For | 51.1K | 0.00% | — | 1y ago |
| 050x0579…ca09 | For | 50K | 0.00% | — | 1y ago |
| 4F0x4f89…fd3c | For | 50K | 0.00% | — | 1y ago |
| 070x0703…961b | For | 30K | 0.00% | — | 1y ago |
| B40xb49f…7948 | For | 30K | 0.00% | — | 1y ago |
| B90xb933…8dd1 | For | 682.9 | 0.00% | — | 1y ago |
| 220x2210…d02e | For | 32 | 0.00% | — | 1y ago |
| C50xc554…7759 | For | 11.2 | 0.00% | — | 1y ago |
| 170x1729…b879 | For | 1 | 0.00% | — | 1y ago |
| 2F0x2f2f…f78a | For | 0.5 | 0.00% | — | 1y ago |
| F80xf83a…5350 | For | 0 | 0.00% | — | 1y ago |
| 8E0x8ec2…6886 | For | 0 | 0.00% | — | 1y ago |
| 820x82f9…18c2 | For | 0 | 0.00% | — | 1y ago |
| FA0xfa7a…59c5 | For | 0 | 0.00% | — | 1y ago |
| 580x5825…c5fe | For | 0 | 0.00% | — | 1y ago |
| 230x2353…5785 | For | 0 | 0.00% | — | 1y ago |
| 5B0x5be8…6c5e | For | 0 | 0.00% | — | 1y ago |
| 140x14d2…cd4e | For | 0 | 0.00% | — | 1y ago |
| 430x43c7…18e6 | For | 0 | 0.00% | — | 1y ago |
| D30xd329…73ed | For | 0 | 0.00% | — | 1y ago |
| D60xd6f5…d90f | For | 0 | 0.00% | — | 1y ago |
| 160x1698…c769 | For | 0 | 0.00% | — | 1y ago |
| 940x945d…7297 | For | 0 | 0.00% | — | 1y ago |
| 6B0x6bc4…1c40 | For | 0 | 0.00% | — | 1y ago |
| D10xd17f…4569 | For | 0 | 0.00% | — | 1y ago |
| AC0xacf6…2b5f | For | 0 | 0.00% | — | 1y ago |
| C90xc9dd…23a5 | For | 0 | 0.00% | — | 1y ago |
| 6C0x6cd4…f9ab | For | 0 | 0.00% | — | 1y ago |
| C60xc6ba…2536 | For | 0 | 0.00% | — | 1y ago |
| A70xa795…ccfd | For | 0 | 0.00% | — | 1y ago |
| 1C0x1c64…eef1 | For | 0 | 0.00% | — | 1y ago |
| B20xb232…1534 | For | 0 | 0.00% | — | 1y ago |
| 8C0x8cb7…d6b5 | For | 0 | 0.00% | — | 1y ago |
| 240x2412…7ef8 | For | 0 | 0.00% | — | 1y ago |
| 7E0x7e20…1e92 | For | 0 | 0.00% | — | 1y ago |
| E40xe4c9…4735 | For | 0 | 0.00% | — | 1y ago |
| 4C0x4c86…3c50 | For | 0 | 0.00% | — | 1y ago |
| BE0xbe2a…8f3c | For | 0 | 0.00% | — | 1y ago |
| D20xd220…0e79 | For | 0 | 0.00% | — | 1y ago |
| DA0xda33…b68d | For | 0 | 0.00% | — | 1y ago |
| 150x15f4…59eb | For | 0 | 0.00% | — | 1y ago |
| F50xf5c0…0e18 | For | 0 | 0.00% | — | 1y ago |
| C00xc015…cdd0 | For | 0 | 0.00% | — | 1y ago |
| E60xe638…ca40 | For | 0 | 0.00% | — | 1y ago |
| CE0xceb9…40cd | For | 0 | 0.00% | — | 1y ago |
| A70xa7d4…319d | For | 0 | 0.00% | — | 1y ago |
| 750x758f…7740 | For | 0 | 0.00% | — | 1y ago |
07Forum
- [Gauntlet] WETH, weETH, USDC, and USDT Risk Recommendations for Mainnet wstETH ↗discourse · high confidence
Arguments for
- Adding these collaterals expands the wstETH market's functionality and provides users with more options for borrowing and collateralization.— Gauntlet, dmitriywoofsoftware
- Risk parameters are well-calibrated based on detailed liquidity analysis and slippage testing to ensure safe liquidation even at full supply caps.— Gauntlet
- WETH and weETH parameters align appropriately with other correlated ETH derivative collaterals on the platform.— Gauntlet
- USDC and USDT stablecoin parameters are set conservatively given their lack of correlation to wstETH, limiting downside risk.— Gauntlet
- All technical implementations have passed comprehensive testing including Slither, Forge, gas profiling, Semgrep, scenario tests, unit tests, ESLint, contract linting, and Tenderly simulation.— dmitriywoofsoftware
Arguments against
None surfaced.
Notable participants
- GauntletRisk analysis provider who recommended detailed risk parameters with supporting liquidity and slippage analysis.
- dmitriywoofsoftwareProposal implementer who submitted the PR and governance proposal with technical implementation details and test results.
Generated by Kvorum
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