Update price feeds in cWETHv3 on Arbitrum with SVR and CAPO price feeds.
01Summary
This proposal updates price feeds for seven assets (USDC, USDT, wstETH, ezETH, rsETH, weETH, and rETH) on the cWETHv3 market on Arbitrum. USDC and USDT will use the new SVR (Secure Value Recognition) oracle implementation, while the five liquid staking tokens will use the CAPO (Correlated Assets Price Oracle) implementation. SVR generates protocol revenue directed to the Compound DAO multisig at 0xd9496F2A3fd2a97d8A4531D92742F3C8F53183cB. Both oracle implementations have been audited by OpenZeppelin.
- Type
- protocol addition
Key changes
- USDC and USDT price feeds updated to SVR implementation on cWETHv3 Arbitrum market(high)
- wstETH, ezETH, rsETH, weETH, and rETH price feeds updated to CAPO implementation on cWETHv3 Arbitrum market(high)
- SVR fee recipient configured to Compound DAO multisig (0xd9496F2A3fd2a97d8A4531D92742F3C8F53183cB) to receive protocol revenue from liquidators(medium)
- CAPO oracle adapter deployed to support liquid staking and liquid restaking tokens with gradual yield accumulation(high)
Notable concerns
- Price feed changes affect borrowing and liquidation mechanics for these seven assets on Arbitrum
- New SVR implementation introduces liquidator fee revenue sharing mechanism requiring careful monitoring
Generated by Kvorum
02Description
Update price feeds in cWETHv3 on Arbitrum with SVR and CAPO price feeds.
Proposal summary
This proposal updates existing price feeds for USDC, USDT, wstETH, ezETH, rsETH, weETH, and rETH assets on the WETH 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, ezETH, rsETH, weETH, and rETH price feeds 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 USDC 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
The proposal has a single decoded on-chain action: a createRetryableTicket call bridging encoded messages to Arbitrum. Decoding the embedded calldata reveals seven 'updateAssetPriceFeed' calls (matching the seven assets named in the description: USDC, USDT, wstETH, ezETH, rsETH, weETH, rETH) followed by a 'deployAndUpgradeTo' call, which is the standard mechanism to finalize a Comet configuration change. This matches the proposal's core claim of updating price feeds for these seven assets on the Arbitrum WETH market and matches the described mechanic of encoding 'updateAssetPriceFeed' and 'deployAndUpgradeTo' calls across the bridge. No numeric values, targets, or recipients in the calldata contradict the description. Two minor points reduce confidence slightly: (1) the phrase 'the first action' implies multiple discrete actions when only one exists, which could confuse readers about scope, and (2) the SVR fee-recipient assignment claimed in the description isn't independently verifiable from this calldata, since it's likely baked into the already-deployed price feed contract rather than a separate on-chain call in this proposal. Neither issue rises to a material or severe discrepancy, so the proposal is assessed as consistent overall, with medium confidence due to the unverifiable fee-recipient detail.
Discrepancies
- lowmisleading phrasing
The description refers to 'the first action' as if there were multiple discrete on-chain actions, but the decoded calldata contains only a single action (a retryable ticket) that bundles all seven price feed updates plus the deployAndUpgradeTo call together. This wording could mislead a reviewer into thinking USDC/USDT updates are isolated from the other five assets, when in fact all seven are executed atomically in the same action.
“The first action updates USDC and USDT price feeds to the SVR implementation.”
- lowomitted in description
The decoded calldata does not contain a distinct, separately identifiable call setting the SVR fee recipient address; this configuration is presumably embedded in the already-deployed SVR price feed contracts rather than in an on-chain call visible in this proposal action. This isn't necessarily a contradiction, but it means the fee-recipient claim in the description cannot be directly verified against the provided calldata.
“The fee recipient for SVR is set to Compound DAO multisig: 0xd9496F2A3fd2a97d8A4531D92742F3C8F53183cB.”
Generated by Kvorum
04Actions
- Target
- 0x4dbd…ab3f
- Value
- 5548955000000000 wei
- Function
- createRetryableTicket(address,uint256,uint256,address,address,uint256,uint256,bytes)
- Arguments
{ "to": "0x42480C37B249e33aABaf4c22B20235656bd38068", "data": 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"gasLimit": "3241890", "l2CallValue": "0", "maxFeePerGas": "500000000", "maxSubmissionCost": "3928010000000000", "callValueRefundAddress": "0x3fB4d38ea7EC20D91917c09591490Eeda38Cf88A", "excessFeeRefundAddress": "0x3fB4d38ea7EC20D91917c09591490Eeda38Cf88A" }- Calldata
05Tally
Summed from votes
06Voters
| Voter | Choice | % of total | Rationale | ||
|---|---|---|---|---|---|
| 3F0x3fb1…4c8a | For | 104.8K | 16.71% | — | 9mo ago |
| 660x66cd…65f9 | For | 80K | 12.75% | — | 9mo ago |
| 050x0579…ca09 | For | 60.3K | 9.61% | — | 9mo ago |
| B40xb49f…7948 | For | 60K | 9.57% | — | 9mo ago |
| 170x1729…b879 | For | 60K | 9.57% | — | 9mo ago |
| B70xb792…89d7 | For | 60K | 9.57% | — | 9mo ago |
| D20xd2a7…5a0c | For | 60K | 9.57% | — | 9mo ago |
| B90xb933…8dd1 | For | 60K | 9.57% | — | 9mo ago |
| 070x0703…961b | For | 51.7K | 8.25% | — | 9mo ago |
| 130x13bd…8548 | For | 30K | 4.78% | — | 9mo ago |
| 1F0x1f3d…0591 | For | 440.7 | 0.07% | — | 9mo ago |
| C50xc554…7759 | For | 11.2 | 0.00% | — | 9mo ago |
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| 3E0x3e6c…e384 | For | 0.1 | 0.00% | — | 9mo ago |
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| 900x9002…2c41 | Abstain | 0.1 | 0.00% | — | 9mo ago |
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| 970x97f4…90ca | For | 0 | 0.00% | — | 9mo ago |
07Forum
No forum thread is confidently linked to this proposal.
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