Update price feeds in cUSDTv3 on Arbitrum with CAPO and SVR price feeds.
01Summary
Update price feeds for WETH, ARB, WBTC, wstETH, and USDT on the cUSDTv3 market on Arbitrum to use SVR (Superior Value Routing) and CAPO (Correlated Assets Price Oracle) implementations. CAPO supports assets like liquid staking tokens that accumulate yield, while SVR generates protocol fee revenue for the Compound DAO. Both technologies have been audited by OpenZeppelin.
- Type
- contract upgrade
Key changes
- Update WETH price feed from current implementation to SVR implementation(high)
- Update ARB price feed from current implementation to SVR implementation(high)
- Update WBTC price feed from current implementation to SVR implementation(high)
- Update wstETH price feed to CAPO implementation to better track liquid staking token yield accumulation(high)
- Update USDT price feed from current implementation to SVR implementation(medium)
- Set SVR fee recipient to Compound DAO multisig (0xd9496F2A3fd2a97d8A4531D92742F3C8F53183cB) to capture liquidation revenue(medium)
Notable concerns
- CAPO and SVR are relatively new implementations and should be monitored for proper functioning on Arbitrum
- Changes affect pricing mechanisms across multiple key assets in the USDT market, requiring careful monitoring
Generated by Kvorum
02Description
Update price feeds in cUSDTv3 on Arbitrum with CAPO and SVR price feeds.
Proposal summary
This proposal updates existing price feeds for WETH, ARB, WBTC, wstETH and USDT assets on the USDT market on Arbitrum.
Further detailed information can be found on the corresponding proposal pull request, forum discussion for CAPO and forum discussion for SVR.
CAPO summary
CAPO is a price oracle adapter designed to support assets that grow gradually relative to a base asset - such as liquid staking tokens that accumulate yield over time. It provides a mechanism to track this expected growth while protecting downstream protocol from sudden or manipulated price spikes. wstETH price feed are updated to their CAPO implementations.
CAPO audit
CAPO has been audited by [OpenZeppelin](https://www.comp.xyz/t/capo-price-feed-audit/6631, as well as the LST / LRT implementation here.
SVR fee recipient
SVR generates revenue from liquidators and Compound DAO will receive that revenue as part of the protocol fee. The fee recipient for SVR is set to Compound DAO multisig: 0xd9496F2A3fd2a97d8A4531D92742F3C8F53183cB.
Proposal actions
The first action updates WETH, ARB, WBTC, wstETH and USDT price feeds to the SVR implementation. This sends the encoded 'updateAssetPriceFeed' and 'deployAndUpgradeTo' calls across the bridge to the governance receiver on Arbitrum.
03Mismatch analysis
Generated by Kvorum
04Actions
- Target
- 0x4dbd…ab3f
- Value
- 4264968000000000 wei
- Function
- createRetryableTicket(address,uint256,uint256,address,address,uint256,uint256,bytes)
- Arguments
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05Tally
Summed from votes
06Voters
No votes recorded yet.
07Forum
No forum thread is confidently linked to this proposal.
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