Supply cap Recommendations for rsETH on USDC,wstETH, and WETH Comets on Mainnet
01Summary
Emergency proposal to set rsETH supply caps to 0 across three Mainnet Compound V3 Comets (USDC, WETH, wstETH) in response to an rsETH exploit that occurred on April 18th. New borrowing will resume once caps are set.
- Type
- parameter change
Key changes
- Set rsETH supply cap to 0 on Ethereum USDC Comet(high)
- Set rsETH supply cap to 0 on Ethereum WETH Comet(high)
- Set rsETH supply cap to 0 on Ethereum wstETH Comet(high)
- Deploy and upgrade configurator for all three affected Comets(medium)
Notable concerns
- rsETH exploit occurred on April 18th requiring emergency intervention
- Supply cap changes prevent new borrowing until resumed by governance
- Separate L2 proposal required for non-Mainnet networks
Generated by Kvorum
02Description
Supply cap Recommendations for rsETH on USDC,wstETH, and WETH Comets on Mainnet
Summary
Due to the recent rsETH exploit that occurred on 18th April. We recommend setting the supply caps to 0 for rsETH on all Compound V3 Comets. This proposal is for Mainnet. There will be a separate proposal for L2 networks . Any new Borrows on affected comets will be resumed once these caps are set to 0. Request the delegates to get their votes in sooner so that the proposal is not extended
Supply Cap Recommendations
| Comet | Asset | Proposed Supply Caps |
|---|---|---|
| Ethereum USDC | rsETH | 0 |
| Ethereum WETH | rsETH | 0 |
| Ethereum wstETH | rsETH | 0 |
Motivation
More details and forum discussions can be found in the following posts.
03Mismatch analysis
A calldata-vs-description analysis is not generated yet. Review the decoded actions →
04Actions
- Target
- 0x316f…36e3
- Value
- 0 wei
- Function
- updateAssetSupplyCap(address,address,uint128)
- Arguments
{ "asset": "0xA1290d69c65A6Fe4DF752f95823fae25cB99e5A7", "cometProxy": "0xc3d688B66703497DAA19211EEdff47f25384cdc3", "newSupplyCap": "0" }- Calldata
- Target
- 0x1ec6…8779
- Value
- 0 wei
- Function
- deployAndUpgradeTo(address,address)
- Arguments
{ "cometProxy": "0xc3d688B66703497DAA19211EEdff47f25384cdc3", "configuratorProxy": "0x316f9708bB98af7dA9c68C1C3b5e79039cD336E3" }- Calldata
- Target
- 0x316f…36e3
- Value
- 0 wei
- Function
- updateAssetSupplyCap(address,address,uint128)
- Arguments
{ "asset": "0xA1290d69c65A6Fe4DF752f95823fae25cB99e5A7", "cometProxy": "0xA17581A9E3356d9A858b789D68B4d866e593aE94", "newSupplyCap": "0" }- Calldata
- Target
- 0x1ec6…8779
- Value
- 0 wei
- Function
- deployAndUpgradeTo(address,address)
- Arguments
{ "cometProxy": "0xA17581A9E3356d9A858b789D68B4d866e593aE94", "configuratorProxy": "0x316f9708bB98af7dA9c68C1C3b5e79039cD336E3" }- Calldata
- Target
- 0x316f…36e3
- Value
- 0 wei
- Function
- updateAssetSupplyCap(address,address,uint128)
- Arguments
{ "asset": "0xA1290d69c65A6Fe4DF752f95823fae25cB99e5A7", "cometProxy": "0x3D0bb1ccaB520A66e607822fC55BC921738fAFE3", "newSupplyCap": "0" }- Calldata
- Target
- 0x1ec6…8779
- Value
- 0 wei
- Function
- deployAndUpgradeTo(address,address)
- Arguments
{ "cometProxy": "0x3D0bb1ccaB520A66e607822fC55BC921738fAFE3", "configuratorProxy": "0x316f9708bB98af7dA9c68C1C3b5e79039cD336E3" }- Calldata
05Tally
Summed from votes
06Voters
No votes recorded yet.
07Forum
No forum thread is confidently linked to this proposal.
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