KVORUM
compoundSource: Compound governor oz · #524

Depreciate cWETHv3 on Ronin

expiredJan 31, 2026, 09:05 AM UTCbyD20xd2a7…5a0c

01Summary

AISummary by Kvorumclaude-haiku-4-5

This proposal deprecates the cWETHv3 market on Ronin by migrating price feeds to API3 (due to Chainlink discontinuing Ronin support), setting supply caps to 0, reducing collateral factors, increasing liquidation penalties, and adjusting interest rate curve parameters to make the market less attractive to new suppliers while protecting existing users from liquidation.

Type
protocol deprecation

Key changes

  • Migrate USDC, AXS, and WRON price feeds from Chainlink to API3 oracle(high)
  • Set supply caps to 0 for all collateral assets(high)
  • Reduce collateral factors(high)
  • Increase liquidation penalties(high)
  • Update interest rate curve parameters including borrow base rate, borrow slope low, borrow kink, borrow slope high, supply base rate, supply slope low, supply kink, and supply slope high(high)
  • Deploy and upgrade to new configuration(high)

Notable concerns

  • Market deprecation prevents new suppliers from entering
  • Reduced capital efficiency makes market less appealing
  • Liquidation penalties increased to further disincentivize usage
ContractscWETH on RoninUSDC price feedAXS price feedWRON price feed
Generated by Kvorum
model: claude-haiku-4-5
provider: anthropic
profile: anthropic-fast-v1
prompt: v1.0
generated: 2mo ago
Read the description ↗

02Description

170 words

Depreciate cWETHv3 on Ronin

Proposal summary

This proposal updates price feeds to API3, since Chainlink soon will no longer support Ronin and updates interest rate curve parameters for WETH market on Ronin.

It is done to prevent new suppliers from entering the market, reduces capital efficiency, making the market less appealing without causing users to become liquidatable and raises liquidation penalty to further disincentivizes usage by increasing the cost of liquidation, while reducing risk to the comet.

Further detailed information can be found on the corresponding proposal pull request and forum discussion.

Proposal actions

The proposal sends the following encoded calls to the governance receiver on Ronin:

  • Update USDC, AXS, and WRON price feeds to API3 oracle
  • Set supply caps to 0 for all collateral assets
  • Reduce collateral factors
  • Increase liquidation penalties
  • Update interest rate curve parameters:
    • setBorrowPerYearInterestRateBase
    • setBorrowPerYearInterestRateSlopeLow
    • setBorrowKink
    • setBorrowPerYearInterestRateSlopeHigh
    • setSupplyPerYearInterestRateBase
    • setSupplyPerYearInterestRateSlopeLow
    • setSupplyKink
    • setSupplyPerYearInterestRateSlopeHigh
  • Deploy and upgrade to new configuration via deployAndUpgradeTo.

03Mismatch analysis

AIMismatch analysis by Kvorummedium confidenceclaude-sonnet-5
Consistent

The proposal's on-chain footprint is a single 'ccipSend' call whose payload is an ABI-encoded bundle of sub-calls destined for the Ronin governance receiver. Decoding the embedded calldata reveals exactly the six categories of actions the description lists: three updateAsset calls (consistent with 'Update USDC, AXS, and WRON price feeds to API3 oracle'), each ending in a zero uint128 argument (consistent with 'Set supply caps to 0 for all collateral assets'), embedded collateral-factor/liquidation-factor parameters within the same calls (consistent with 'Reduce collateral factors' and 'Increase liquidation penalties', though absolute before/after values cannot be independently verified from this data alone), eight named interest-rate setter functions matching the description's explicit list verbatim, and a final deployAndUpgradeTo call matching the last bullet. The small ETH value attached to the ccipSend is routine CCIP fee payment and not something the description would be expected to mention. No contract addresses, function names, or major parameters in the calldata contradict the prose, and no significant on-chain action (e.g., fund transfer to an unexpected address, unrelated role change) appears outside what is described. Because I cannot independently confirm the exact magnitude/direction of collateral-factor reductions or liquidation-penalty increases without external baseline values, confidence is medium rather than high, but no discrepancy is evident from the available data.

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

04Actions

1 total
#0ccipSend(uint64,(bytes,bytes,(address,uint256)[],address,bytes))chain 0x1
Target
0x8022…6f7d
Value
173435298956631 wei
Function
ccipSend(uint64,(bytes,bytes,(address,uint256)[],address,bytes))
Arguments
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    [],
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  "destinationChainSelector": "6916147374840168594"
}
Calldata

05Tally

Summed from votes

Voters36
VP participating965.1K
Outcome (current)For
Current support93.8%

06Voters

36 total
Filter:
VoterChoice% of totalRationale
3F0x3fb1…4c8aFor104.8K10.86%—9mo ago
360x36cc…ffc6For87.6K9.08%—9mo ago
540x54a3…e189For85.1K8.82%—9mo ago
660x66cd…65f9For80K8.29%—9mo ago
050x0579…ca09For60.3K6.25%—9mo ago
B30xb356…c826Against60.1K6.23%—9mo ago
B40xb49f…7948For60K6.22%—9mo ago
170x1729…b879For60K6.22%—9mo ago
B70xb792…89d7For60K6.22%—9mo ago
D20xd2a7…5a0cFor60K6.22%—9mo ago
B90xb933…8dd1For60K6.22%—9mo ago
8D0x8d07…a265For55K5.70%—9mo ago
070x0703…961bFor51.7K5.36%—9mo ago
4F0x4f89…fd3cFor50K5.18%—9mo ago
130x13bd…8548For30K3.11%—9mo ago
1F0x1f3d…0591For440.70.05%—9mo ago
220x2210…d02eFor35.20.00%—9mo ago
C50xc554…7759For11.20.00%—9mo ago
2F0x2f2f…f78aFor0.50.00%—9mo ago
D80xd8de…ae41For0.10.00%—9mo ago
EC0xec87…a9a9For00.00%—9mo ago
CA0xca5b…3abfFor00.00%—9mo ago
DE0xde7d…2990For00.00%—9mo ago
1C0x1c98…f168For00.00%—9mo ago
A10xa1a0…0de0For00.00%—9mo ago
D40xd4cc…2140For00.00%—9mo ago
2A0x2abf…ba80For00.00%—9mo ago
A20xa266…fc3fFor00.00%—9mo ago
EE0xee3b…4d02For00.00%—9mo ago
E30xe37a…239aFor00.00%—9mo ago
F50xf5f3…90eeFor00.00%—9mo ago
B10xb180…48f2For00.00%—9mo ago
220x22de…85a0For00.00%—9mo ago
0F0x0ff1…fa19For00.00%—9mo ago
ED0xedb2…1897For00.00%—9mo ago
3D0x3d50…4133For00.00%—9mo ago
Showing 36

07Forum

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

Arguments for

  • Deprecating Ronin markets with zero supply caps and reduced collateral factors prevents new suppliers from entering while avoiding forced liquidations of existing users.— Gauntlet, dmitriywoofsoftware
  • Increased liquidation penalties reduce risk to the comet by disincentivizing usage without immediately harming existing positions.— Gauntlet, dmitriywoofsoftware
  • Migrating price feeds from Chainlink to API3 is necessary since Chainlink will no longer support Ronin.— dmitriywoofsoftware
  • All technical tests and simulations passed successfully, demonstrating the proposal is ready for implementation.— dmitriywoofsoftware

Arguments against

None surfaced.

Notable participants

  • GauntletRisk analyst who provided the initial deprecation strategy and parameter recommendations for Ronin markets.
  • dmitriywoofsoftwareCore contributor who implemented the technical proposals, ran all tests and simulations, and submitted both cWETHv3 and cWRONv3 deprecation proposals.
  • allthecolorsCommunity participant who raised a minor terminology correction about the word 'deprecate' versus 'depreciate'.
Generated by Kvorum
model: claude-haiku-4-5
provider: anthropic
profile: anthropic-fast-v1
prompt: v1.0
generated: 2mo ago
Open the thread ↗