[Gauntlet] Deprecating the Scroll USDC Comet
01Summary
Gauntlet proposes to deprecate the Scroll USDC Comet by reducing supply caps for WETH and wstETH to 0, and adjusting borrow and supply interest rate curve parameters to make the market less attractive and facilitate orderly wind-down.
- Type
- parameter change
Key changes
- WETH supply cap reduced from 60 to 0(high)
- wstETH supply cap reduced from 4 to 0(high)
- Annual Borrow Interest Rate Base increased from 0.015 to 0.1(high)
- Annual Borrow Interest Rate Slope Low decreased from 0.0944444 to 0.0(medium)
- Borrow Kink adjusted from 0.9 to 0.85(medium)
- Annual Supply Interest Rate Slope Low increased from 0.036 to 0.09839(medium)
- Supply Kink adjusted from 0.9 to 0.85(medium)
- Annual Supply Interest Rate Slope High increased from 3.196 to 3.21769(low)
Notable concerns
- The proposal effectively deprecates the Scroll USDC Comet by eliminating supply capacity for major assets, which may force users to exit positions
- Increased borrow rates and modified rate curves are designed to discourage new borrowing and encourage repayment during wind-down
Generated by Kvorum
02Description
[Gauntlet] Deprecating the Scroll USDC Comet
Simple Summary
Gauntlet recommends the following supply cap and interest rate recommendations to the protocol:
Supply Caps
| Comet | Asset | Supply Cap |
|---|---|---|
| Scroll USDC | WETH | 60→0 |
| Scroll USDC | wstETH | 4→0 |
Interest Rate Curve Parameters
Scroll USDC
| Parameter | Current Value | Recommended Value |
|---|---|---|
| Annual Borrow Interest Rate Base | 0.015 | 0.1 |
| Annual Borrow Interest Rate Slope Low | 0.0944444 | 0.0 |
| Borrow Kink | 0.9 | 0.85 |
| Annual Borrow Interest Rate Slope High | 3.6 | 3.6 |
| Annual Supply Interest Rate Base | 0.0 | 0.0 |
| Annual Supply Interest Rate Slope Low | 0.036 | 0.09839 |
| Supply Kink | 0.9 | 0.85 |
| Annual Supply Interest Rate Slope High | 3.196 | 3.21769 |
Motivation
Full proposal and forum discussions can be found in the following post.
Specification
The proposal updates the parameters by using the respective methods on the Configurator.
By approving this proposal, you agree that any services provided by Gauntlet shall be governed by the terms of service available at gauntlet.xyz/tos
03Mismatch analysis
The proposal is encoded as a single cross-chain sendMessage call to a Scroll bridge contract, carrying an ABI-encoded batch of Configurator function calls. Extracting the function selectors embedded in the message payload reveals exactly the operations the description claims: two updateAssetSupplyCap calls (matching the WETH and wstETH cap reductions to 0), setBorrowKink and setSupplyKink (matching the 0.9→0.85 kink changes), setBorrowPerYearInterestRateBase and setBorrowPerYearInterestRateSlopeLow (matching the borrow rate base/slope-low changes), and setSupplyPerYearInterestRateSlopeLow/SlopeHigh (matching the supply rate slope changes). Parameters the table shows as unchanged (Borrow Slope High, Supply Base) correspondingly have no corresponding setter call, which is consistent. The batch also includes a deployAndUpgradeTo call, which is the standard mechanism required to push Configurator changes live on the Comet proxy — this is omitted from the prose but is routine boilerplate for this contract type, not a hidden or surprising action. Because the raw calldata bytes are ABI-encoded generic 'bytes' parameters rather than individually decoded numeric arguments, I could not verify every embedded rate/cap value bit-for-bit against the stated percentages, so confidence is medium rather than high. However, the structural match between the described parameter changes and the extracted function selectors is complete, with no unexplained extra calls, no missing described calls, and no evidence of a target or value mismatch. Overall this proposal appears consistent with its description.
Discrepancies
- lowomitted in description
The calldata includes a deployAndUpgradeTo call that finalizes/applies the configurator changes to the Comet proxy. This is not mentioned in the description, but it is a routine, expected step whenever Configurator parameters are updated (the change has no effect until this call executes), so it is treated as standard bookkeeping rather than a hidden action.
Generated by Kvorum
04Actions
- Target
- 0x6774…b367
- Value
- 100000000000000000 wei
- Function
- sendMessage(address,uint256,bytes,uint256)
- Arguments
{ "_to": "0xC6bf5A64896D679Cf89843DbeC6c0f5d3C9b610D", "_value": "0", "_message": 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"_gasLimit": "3000000" }- Calldata
05Tally
Summed from votes
06Voters
No votes recorded yet.
07Forum
- [Gauntlet] Deprecating the Scroll USDC Comet ↗discourse · high confidence
Arguments for
- Setting supply caps to zero and adjusting interest rate curves will effectively disincentivize TVL inflows and accelerate the Scroll USDC market's deprecation as intended.— Gauntlet
Arguments against
None surfaced.
Notable participants
- GauntletProposer recommending supply cap reductions to zero and interest rate curve adjustments to deprecate the Scroll USDC Comet.
Generated by Kvorum
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