Add XAUt as collateral into cUSDTv3 on Ethereum
01Summary
Proposal to add XAUt (tokenized gold) as collateral to the cUSDTv3 market on Ethereum. The proposal includes setting risk parameters based on Gauntlet's recommendations and deploying an upgraded Comet version. No funding involved.
- Type
- protocol addition
Key changes
- Add XAUt token at address 0x68749665FF8D2d112Fa859AA293F07A622782F38 as collateral to cUSDTv3(high)
- Set XAUt collateral factor at 70% based on Gauntlet risk recommendations(high)
- Set XAUt liquidation threshold at 75% based on Gauntlet risk recommendations(high)
- Set XAUt liquidation incentive at 90% based on Gauntlet risk recommendations(high)
- Deploy and upgrade Comet to new version(medium)
Notable concerns
- Risk parameters are based on Gauntlet recommendations; accuracy of risk modeling should be independently verified
Generated by Kvorum
02Description
Add XAUt as collateral into cUSDTv3 on Ethereum
Proposal summary
WOOF! proposes to add XAUt into cUSDTv3 on Ethereum network. This proposal takes the governance steps recommended and necessary to update a Compound III USDT 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 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 XAUt asset as collateral with corresponding configurations.
The second action deploys and upgrades Comet to a new version.
03Mismatch analysis
The description states two actions: (1) adding XAUt as a new collateral asset to the cUSDTv3 market on Ethereum with risk parameters derived from Gauntlet's recommendations, and (2) deploying and upgrading the Comet implementation to activate the change. The decoded calldata contains exactly two actions matching this: an addAsset call targeting the correct Configurator and cUSDT Comet proxy addresses with a full asset configuration (collateral factors, liquidation factor, supply cap), followed by a deployAndUpgradeTo call on the same Configurator/proxy pair, which is the standard mechanism for applying Comet configuration changes. No numeric risk parameters are specified in the prose to cross-check against calldata values (the description only references Gauntlet's recommendations by link), so there is no basis to flag a value mismatch. Targets, action count, and action types all align with the stated intent, and no extra or omitted actions are present. This is a standard, well-formed Compound III collateral-onboarding proposal with no evidence of misdirection or missing steps.
Generated by Kvorum
04Actions
- Target
- 0x316f…36e3
- Value
- 0 wei
- Function
- addAsset(address,(address,address,uint8,uint64,uint64,uint64,uint128))
- Arguments
{ "cometProxy": "0x3Afdc9BCA9213A35503b077a6072F3D0d5AB0840", "assetConfig": [ "0x68749665FF8D2d112Fa859AA293F07A622782F38", "0x214eD9Da11D2fbe465a6fc601a91E62EbEc1a0D6", "6", "700000000000000000", "750000000000000000", "900000000000000000", "200000000" ] }- Calldata
- Target
- 0x1ec6…8779
- Value
- 0 wei
- Function
- deployAndUpgradeTo(address,address)
- Arguments
{ "cometProxy": "0x3Afdc9BCA9213A35503b077a6072F3D0d5AB0840", "configuratorProxy": "0x316f9708bB98af7dA9c68C1C3b5e79039cD336E3" }- Calldata
05Tally
Summed from votes
06Voters
| Voter | Choice | % of total | Rationale | ||
|---|---|---|---|---|---|
| 3F0x3fb1…4c8a | For | 104.8K | 13.94% | — | 9mo ago |
| 360x36cc…ffc6 | For | 87.6K | 11.66% | — | 9mo ago |
| 660x66cd…65f9 | For | 80K | 10.64% | — | 9mo ago |
| 050x0579…ca09 | For | 60.3K | 8.02% | — | 9mo ago |
| B40xb49f…7948 | For | 60K | 7.98% | — | 9mo ago |
| 170x1729…b879 | For | 60K | 7.98% | — | 9mo ago |
| B70xb792…89d7 | For | 60K | 7.98% | — | 9mo ago |
| D20xd2a7…5a0c | For | 60K | 7.98% | — | 9mo ago |
| B90xb933…8dd1 | For | 60K | 7.98% | — | 9mo ago |
| 070x0703…961b | For | 51.7K | 6.88% | — | 9mo ago |
| 680x683a…6c02 | For | 36.6K | 4.87% | — | 9mo ago |
| 130x13bd…8548 | For | 30K | 3.99% | — | 9mo ago |
| 1F0x1f3d…0591 | For | 440.7 | 0.06% | — | 9mo ago |
| C50xc554…7759 | For | 11.2 | 0.00% | — | 9mo ago |
| 2F0x2f2f…f78a | For | 0.5 | 0.00% | — | 9mo ago |
| F20xf2e8…bee4 | For | 0 | 0.00% | — | 9mo ago |
| 940x945d…7297 | For | 0 | 0.00% | — | 9mo ago |
| 6B0x6bc4…1c40 | For | 0 | 0.00% | — | 9mo ago |
| 8C0x8cb7…d6b5 | For | 0 | 0.00% | — | 9mo ago |
| 240x2412…7ef8 | For | 0 | 0.00% | — | 9mo ago |
| E40xe4c9…4735 | For | 0 | 0.00% | — | 9mo ago |
| 4C0x4c86…3c50 | For | 0 | 0.00% | — | 9mo ago |
| BE0xbe2a…8f3c | For | 0 | 0.00% | — | 9mo ago |
| AA0xaa8c…d8b1 | For | 0 | 0.00% | — | 9mo ago |
| 020x0218…7d4b | For | 0 | 0.00% | — | 9mo ago |
| 930x9334…db87 | For | 0 | 0.00% | — | 9mo ago |
| 970x9775…fd9b | For | 0 | 0.00% | — | 9mo ago |
| 860x86f0…f2d1 | For | 0 | 0.00% | — | 9mo ago |
| 0B0x0bce…0d04 | Against | 0 | 0.00% | — | 9mo ago |
| 850x8576…9bdd | For | 0 | 0.00% | — | 9mo ago |
| 120x1218…247e | For | 0 | 0.00% | — | 9mo ago |
| 3B0x3b1a…1228 | For | 0 | 0.00% | — | 9mo ago |
07Forum
- [Gauntlet] - XAUt Risk Recommendations for Mainnet USDT ↗discourse · high confidence
Arguments for
- Gold is historically proven as prime collateral and XAUt has doubled its TVL in 2025, making this a timely moment to list on Compound.— Goldilocks
- A 200 XAUt initial supply cap is appropriate given sub-1% slippage and serves as a conservative starting point to gauge market demand before scaling.— Gauntlet, Goldilocks
- The recommended risk parameters (70% CF, 75% LF, 10% LP) align XAUt with other blue-chip non-stable collaterals and maintain a standard 5% buffer between CF and LF.— Gauntlet
- All technical testing including Slither, Forge tests, gas profiling, and Tenderly simulation passed successfully, confirming market readiness.— woof
Arguments against
None surfaced.
Notable participants
- GauntletRisk analyst who provided the initial risk assessment and parameter recommendations for XAUt collateral.
- GoldilocksCommunity member who endorsed the proposal and highlighted XAUt's historical role and recent TVL growth.
- woofProposer who moved the proposal on-chain with full technical specifications, testing, and simulations.
Generated by Kvorum
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