Incentive Cuts on Ethereum (Extension to proposal 553)
01Summary
Gauntlet proposes to eliminate COMP incentives on Ethereum USDS comet (removing 5 daily borrow and 13 daily supply incentives) and reduce WBTC comet supply incentives to zero. This is an extension of proposal 553, split due to transaction limits.
- Type
- parameter change
Key changes
- Ethereum USDS comet: Remove 5 COMP daily borrow incentive (5 → 0)(medium)
- Ethereum USDS comet: Remove 13 COMP daily supply incentive (13 → 0)(medium)
- Ethereum WBTC comet: Remove 1 COMP daily supply incentive (1 → 0)(low)
- Deploy and upgrade Comet implementations for affected proxies(high)
Notable concerns
- This proposal is a continuation of proposal 553 and was split due to per-proposal transaction gas limits
- Total daily COMP incentive reductions across affected markets
- Users currently earning these incentives will see them eliminated
Generated by Kvorum
02Description
Incentive Cuts on Ethereum (Extension to proposal 553)
Simple Summary
Gauntlet recommends the following adjustments to COMP incentives on ethereum comets. This is an extension of the proposal that is proposed here. It had to be split into 2 proposals as the transaction limit is 16M gwei per proposal.
| Comet | Daily Borrow Incentive(in COMP) | Daily Supply Incentive(in COMP) |
|---|---|---|
| Ethereum USDS | 5 → 0 | 13 → 0 |
| Ethereum WBTC | 0 | 1 → 0 |
Motivation
Full proposal and forum discussions can be found in the following post.
03Mismatch analysis
The description claims two incentive cuts: (1) USDS comet borrow and supply speeds go from 5 and 13 COMP/day to 0, and (2) WBTC comet supply speed goes from 1 COMP/day to 0 while borrow stays at 0. The calldata shows exactly this pattern: for one comet address, both setBaseTrackingSupplySpeed and setBaseTrackingBorrowSpeed are set to 0 (matching the USDS row, which has both nonzero values being cut), and for the second comet address only setBaseTrackingSupplySpeed is set to 0 with no borrow-speed call (matching the WBTC row, where borrow was already 0 and only supply needed cutting). The deployAndUpgradeTo calls following each set of speed changes are standard Compound Comet governance boilerplate needed to push new configuration through the Configurator/CometFactory pattern — this is routine mechanics not requiring explicit mention in the description. I could not independently verify from the JSON that the two comet proxy addresses correspond exactly to USDS and WBTC markets (no token/market labels are given), so confidence is medium rather than high, but the structural pattern (which market gets 1 vs 2 speed changes) lines up precisely with the table in the description. No numeric mismatches, no extra or missing significant actions, and no misleading characterization were found.description_excerpt is omitted as not applicable.
Generated by Kvorum
04Actions
- Target
- 0x316f…36e3
- Value
- 0 wei
- Function
- setBaseTrackingSupplySpeed(address,uint64)
- Arguments
{ "cometProxy": "0x5D409e56D886231aDAf00c8775665AD0f9897b56", "newBaseTrackingSupplySpeed": "0" }- Calldata
- Target
- 0x316f…36e3
- Value
- 0 wei
- Function
- setBaseTrackingBorrowSpeed(address,uint64)
- Arguments
{ "cometProxy": "0x5D409e56D886231aDAf00c8775665AD0f9897b56", "newBaseTrackingBorrowSpeed": "0" }- Calldata
- Target
- 0x1ec6…8779
- Value
- 0 wei
- Function
- deployAndUpgradeTo(address,address)
- Arguments
{ "cometProxy": "0x5D409e56D886231aDAf00c8775665AD0f9897b56", "configuratorProxy": "0x316f9708bB98af7dA9c68C1C3b5e79039cD336E3" }- Calldata
- Target
- 0x316f…36e3
- Value
- 0 wei
- Function
- setBaseTrackingSupplySpeed(address,uint64)
- Arguments
{ "cometProxy": "0xe85Dc543813B8c2CFEaAc371517b925a166a9293", "newBaseTrackingSupplySpeed": "0" }- Calldata
- Target
- 0x1ec6…8779
- Value
- 0 wei
- Function
- deployAndUpgradeTo(address,address)
- Arguments
{ "cometProxy": "0xe85Dc543813B8c2CFEaAc371517b925a166a9293", "configuratorProxy": "0x316f9708bB98af7dA9c68C1C3b5e79039cD336E3" }- Calldata
05Tally
Summed from votes
06Voters
| Voter | Choice | % of total | Rationale | ||
|---|---|---|---|---|---|
| 3F0x3fb1…4c8a | For | 104.8K | 12.70% | — | 8mo ago |
| 360x36cc…ffc6 | For | 87.6K | 10.62% | — | 8mo ago |
| 660x66cd…65f9 | For | 80K | 9.70% | — | 8mo ago |
| B30xb356…c826 | For | 60.1K | 7.29% | — | 8mo ago |
| B40xb49f…7948 | For | 60K | 7.27% | — | 8mo ago |
| 050x0579…ca09 | For | 60K | 7.27% | — | 8mo ago |
| 170x1729…b879 | For | 60K | 7.27% | — | 8mo ago |
| B70xb792…89d7 | For | 60K | 7.27% | — | 8mo ago |
| D20xd2a7…5a0c | For | 60K | 7.27% | — | 8mo ago |
| B90xb933…8dd1 | For | 60K | 7.27% | — | 8mo ago |
| 070x0703…961b | For | 51.7K | 6.27% | — | 8mo ago |
| 2B0x2b38…bf33 | For | 50.3K | 6.09% | — | 8mo ago |
| 130x13bd…8548 | For | 30K | 3.64% | — | 8mo ago |
| 1F0x1f3d…0591 | For | 440.7 | 0.05% | — | 8mo ago |
| C50xc554…7759 | For | 11.2 | 0.00% | — | 8mo ago |
| 9F0x9f77…2768 | For | 0.9 | 0.00% | — | 8mo ago |
| 2F0x2f2f…f78a | For | 0.5 | 0.00% | — | 8mo ago |
| 880x88f6…0ec0 | For | 0 | 0.00% | — | 8mo ago |
07Forum
No forum thread is confidently linked to this proposal.
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