KVORUM
compoundSource: Compound governor oz · #585

Supply Cap Reduction Across L2 Comets (Part 2)

executedMay 25, 2026, 07:03 AM UTCby890x89f2…e8db

01Summary

AISummary by Kvorumclaude-haiku-4-5

WOOF! proposes to reduce supply caps on Compound III markets across multiple L2 networks: USDC, USDT, and WETH on Optimism; USDC and USDT on Polygon; and USDC and WETH on Unichain. Changes are based on Gauntlet recommendations and have been simulated for market readiness.

Type
parameter change

Key changes

  • Update supply cap for cUSDCv3 on Optimism from 2,500,000,000,000,000,000,000 to 2,480,000,000,000,000,000,000(medium)
  • Update supply cap for cUSDTv3 on Optimism from 6,400,000,000,000,000,000,000 to 6,240,000,000,000,000,000,000(medium)
  • Update supply cap for cWETHv3 on Optimism from 4,000,000,000,000,000,000 to 3,900,000,000,000,000,000(medium)
  • Update supply cap for cUSDCv3 on Polygon from 189,500,000,000,000,000,000,000 to 180,000,000,000,000,000,000,000(medium)
  • Update supply cap for cUSDTv3 on Polygon from 150,000,000,000,000,000,000,000 to 140,000,000,000,000,000,000,000(medium)
  • Update supply cap for cUSDCv3 on Unichain from 1,000,000,000,000,000,000,000 to 950,000,000,000,000,000,000(medium)
  • Update supply cap for cWETHv3 on Unichain from 900,000,000,000,000,000 to 850,000,000,000,000,000(medium)

Notable concerns

  • Supply caps are being reduced across multiple critical assets (USDC, USDT, WETH) on multiple L2 networks which could affect borrowing capacity
  • Changes require coordination across three separate L2 networks (Optimism, Polygon, Unichain)
ContractscUSDCv3 (Optimism)cUSDTv3 (Optimism)cWETHv3 (Optimism)cUSDCv3 (Polygon)cUSDTv3 (Polygon)cUSDCv3 (Unichain)cWETHv3 (Unichain)
Generated by Kvorum
model: claude-haiku-4-5
provider: anthropic
profile: anthropic-fast-v1
prompt: v1.0
generated: 2mo ago
Read the description ↗

02Description

157 words

Supply Cap Reduction Across L2 Comets (Part 2)

Proposal summary

WOOF! proposes to update supply caps on cUSDCv3, cUSDTv3 and cWETHv3 on Optimism, cUSDCv3 and cUSDTv3 on Polygon, cUSDCv3 and cWETHv3 on Unichain networks. This proposal takes the governance steps recommended and necessary to update Compound III markets on each network. Simulations have confirmed the market’s readiness, as much as possible, using the Comet scenario suite. The new parameters are based on the recommendations from Gauntlet.

Further detailed information can be found on the corresponding proposal pull request and forum discussion.

Proposal Actions

The first action sends a message to the Optimism network to update supply caps on the USDC, USDT and WETH Comets.

The second action sends a message to the Polygon network to update supply caps on the USDC and USDT Comets.

The third action sends a message to the Unichain network to update supply caps on the USDC and WETH Comets.

03Mismatch analysis

AIMismatch analysis by Kvorummedium confidenceclaude-sonnet-5
Consistent

The description claims three cross-chain governance messages: (1) Optimism updating caps on USDC, USDT, WETH Comets, (2) Polygon updating caps on USDC and USDT Comets, (3) Unichain updating caps on USDC and WETH Comets. The decoded calldata contains exactly three actions, each a standard L1->L2 governance bridge call (sendMessage / sendMessageToChild) targeting known bridge-style receiver addresses. Within each action's encoded sub-calldata, the number of distinct Comet proxy addresses receiving deployAndUpgradeTo + updateAssetSupplyCap sequences matches the claimed market counts: three markets for Optimism, two for Polygon, two for Unichain. Each market also receives multiple collateral-asset supply-cap updates, which is standard/expected behavior for a 'supply cap update' proposal and is reasonably summarized by the prose without needing to enumerate every collateral asset. I could not independently verify that each specific Comet proxy address corresponds precisely to the named token (e.g., confirming 0x2e44e174... is exactly the Optimism WETH market) since token/market labels aren't present in raw calldata, which limits confidence to medium, but the structural counts, target contract types, and general shape of the proposal align well with the description. No value mismatches, target mismatches, or omitted/extra actions of material significance were identified.

Generated by Kvorum
model: claude-sonnet-5
provider: anthropic
profile: anthropic-strong-v1
prompt: v1.0
generated: 2mo ago
Review the decoded actions ↗

04Actions

3 total
#0sendMessage(address,bytes,uint32)chain 0x1
Target
0x25ac…5fa1
Value
0 wei
Function
sendMessage(address,bytes,uint32)
Arguments
{
  "_target": "0xC3a73A70d1577CD5B02da0bA91C0Afc8fA434DAF",
  "_message": 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  "_minGasLimit": "3000000"
}
Calldata
#1sendMessageToChild(address,bytes)chain 0x1
Target
0xfe5e…89a2
Value
0 wei
Function
sendMessageToChild(address,bytes)
Arguments
{
  "_data": "0x0000000000000000000000000000000000000000000000000000000000000080000000000000000000000000000000000000000000000000000000000000016000000000000000000000000000000000000000000000000000000000000002400000000000000000000000000000000000000000000000000000000000000560000000000000000000000000000000000000000000000000000000000000000600000000000000000000000083e0f742cacbe66349e3701b171ee2487a26e73800000000000000000000000083e0f742cacbe66349e3701b171ee2487a26e738000000000000000000000000d712ace4ca490d4f3e92992ecf3de12251b975f900000000000000000000000083e0f742cacbe66349e3701b171ee2487a26e73800000000000000000000000083e0f742cacbe66349e3701b171ee2487a26e738000000000000000000000000d712ace4ca490d4f3e92992ecf3de12251b975f90000000000000000000000000000000000000000000000000000000000000006000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000600000000000000000000000000000000000000000000000000000000000000c00000000000000000000000000000000000000000000000000000000000000120000000000000000000000000000000000000000000000000000000000000018000000000000000000000000000000000000000000000000000000000000001e0000000000000000000000000000000000000000000000000000000000000024000000000000000000000000000000000000000000000000000000000000002a0000000000000000000000000000000000000000000000000000000000000002d7570646174654173736574537570706c7943617028616464726573732c616464726573732c75696e743132382900000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000002d7570646174654173736574537570706c7943617028616464726573732c616464726573732c75696e74313238290000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000236465706c6f79416e6455706772616465546f28616464726573732c61646472657373290000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000002d7570646174654173736574537570706c7943617028616464726573732c616464726573732c75696e743132382900000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000002d7570646174654173736574537570706c7943617028616464726573732c616464726573732c75696e74313238290000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000236465706c6f79416e6455706772616465546f28616464726573732c61646472657373290000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000600000000000000000000000000000000000000000000000000000000000000c0000000000000000000000000000000000000000000000000000000000000014000000000000000000000000000000000000000000000000000000000000001c0000000000000000000000000000000000000000000000000000000000000022000000000000000000000000000000000000000000000000000000000000002a000000000000000000000000000000000000000000000000000000000000003200000000000000000000000000000000000000000000000000000000000000060000000000000000000000000f25212e676d1f7f89cd72ffee66158f5412464450000000000000000000000000d500b1d8e8ef31e21c99d1db9a6444d3adf12700000000000000000000000000000000000000000000067ea94b04fbb18cc00000000000000000000000000000000000000000000000000000000000000000060000000000000000000000000f25212e676d1f7f89cd72ffee66158f541246445000000000000000000000000fa68fb4628dff1028cfec22b4162fccd0d45efb60000000000000000000000000000000000000000000032830ffe161b72200000000000000000000000000000000000000000000000000000000000000000004000000000000000000000000083e0f742cacbe66349e3701b171ee2487a26e738000000000000000000000000f25212e676d1f7f89cd72ffee66158f5412464450000000000000000000000000000000000000000000000000000000000000060000000000000000000000000aeb318360f27748acb200ce616e389a6c9409a070000000000000000000000000d500b1d8e8ef31e21c99d1db9a6444d3adf1270000000000000000000000000000000000000000000002ad3c712aec4845800000000000000000000000000000000000000000000000000000000000000000060000000000000000000000000aeb318360f27748acb200ce616e389a6c9409a07000000000000000000000000fa68fb4628dff1028cfec22b4162fccd0d45efb600000000000000000000000000000000000000000000221f6aba33b08d500000000000000000000000000000000000000000000000000000000000000000004000000000000000000000000083e0f742cacbe66349e3701b171ee2487a26e738000000000000000000000000aeb318360f27748acb200ce616e389a6c9409a07",
  "_receiver": "0x18281dfC4d00905DA1aaA6731414EABa843c468A"
}
Calldata
#2sendMessage(address,bytes,uint32)chain 0x1
Target
0x9a3d…98a6
Value
0 wei
Function
sendMessage(address,bytes,uint32)
Arguments
{
  "_target": "0x4b5DeE60531a72C1264319Ec6A22678a4D0C8118",
  "_message": "0x000000000000000000000000000000000000000000000000000000000000008000000000000000000000000000000000000000000000000000000000000001600000000000000000000000000000000000000000000000000000000000000240000000000000000000000000000000000000000000000000000000000000056000000000000000000000000000000000000000000000000000000000000000060000000000000000000000008df378453ff9deffa513367cdf9b3b53726303e9000000000000000000000000aeb318360f27748acb200ce616e389a6c9409a070000000000000000000000008df378453ff9deffa513367cdf9b3b53726303e90000000000000000000000008df378453ff9deffa513367cdf9b3b53726303e90000000000000000000000008df378453ff9deffa513367cdf9b3b53726303e9000000000000000000000000aeb318360f27748acb200ce616e389a6c9409a070000000000000000000000000000000000000000000000000000000000000006000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000600000000000000000000000000000000000000000000000000000000000000c00000000000000000000000000000000000000000000000000000000000000120000000000000000000000000000000000000000000000000000000000000018000000000000000000000000000000000000000000000000000000000000001e0000000000000000000000000000000000000000000000000000000000000024000000000000000000000000000000000000000000000000000000000000002a0000000000000000000000000000000000000000000000000000000000000002d7570646174654173736574537570706c7943617028616464726573732c616464726573732c75696e74313238290000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000236465706c6f79416e6455706772616465546f28616464726573732c61646472657373290000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000002d7570646174654173736574537570706c7943617028616464726573732c616464726573732c75696e743132382900000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000002d7570646174654173736574537570706c7943617028616464726573732c616464726573732c75696e743132382900000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000002d7570646174654173736574537570706c7943617028616464726573732c616464726573732c75696e74313238290000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000236465706c6f79416e6455706772616465546f28616464726573732c61646472657373290000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000600000000000000000000000000000000000000000000000000000000000000c0000000000000000000000000000000000000000000000000000000000000014000000000000000000000000000000000000000000000000000000000000001a0000000000000000000000000000000000000000000000000000000000000022000000000000000000000000000000000000000000000000000000000000002a0000000000000000000000000000000000000000000000000000000000000032000000000000000000000000000000000000000000000000000000000000000600000000000000000000000002c7118c4c88b9841fcf839074c26ae8f035f29210000000000000000000000008f187aa05619a017077f5308904739877ce9ea210000000000000000000000000000000000000000000000e97ba1d089376c000000000000000000000000000000000000000000000000000000000000000000400000000000000000000000008df378453ff9deffa513367cdf9b3b53726303e90000000000000000000000002c7118c4c88b9841fcf839074c26ae8f035f292100000000000000000000000000000000000000000000000000000000000000600000000000000000000000006c987dde50db1dcdd32cd4175778c2a291978e2a0000000000000000000000008f187aa05619a017077f5308904739877ce9ea21000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000600000000000000000000000006c987dde50db1dcdd32cd4175778c2a291978e2a0000000000000000000000002416092f143378750bb29b79ed961ab195cceea5000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000600000000000000000000000006c987dde50db1dcdd32cd4175778c2a291978e2a0000000000000000000000007dcc39b4d1c53cb31e1abc0e358b43987fef80f70000000000000000000000000000000000000000000000339ba76c167be0000000000000000000000000000000000000000000000000000000000000000000400000000000000000000000008df378453ff9deffa513367cdf9b3b53726303e90000000000000000000000006c987dde50db1dcdd32cd4175778c2a291978e2a",
  "_minGasLimit": "3000000"
}
Calldata

05Tally

Summed from votes

Voters20
VP participating685.7K
Outcome (current)For
Current support100%

06Voters

20 total
Filter:
VoterChoice% of totalRationale
3F0x3fb1…4c8aFor104.8K15.28%—6mo ago
660x66cd…65f9For80.2K11.70%—6mo ago
B40xb49f…7948For60K8.75%—6mo ago
050x0579…ca09For60K8.75%—6mo ago
170x1729…b879For60K8.75%—6mo ago
B70xb792…89d7For60K8.75%—6mo ago
B90xb933…8dd1For60K8.75%—6mo ago
D20xd2a7…5a0cFor60K8.75%—6mo ago
B30xb356…c826For59K8.60%—6mo ago
070x0703…961bFor51.7K7.54%—6mo ago
130x13bd…8548For30K4.37%—6mo ago
C50xc554…7759For11.20.00%—6mo ago
9F0x9f77…2768For0.90.00%—6mo ago
1E0x1e65…a776For0.10.00%—5mo ago
280x2817…24f1For0.10.00%—6mo ago
3F0x3fc3…d4f7For0.10.00%—6mo ago
130x1351…fa14For0.10.00%—6mo ago
950x95f6…2c83For0.10.00%—5mo ago
BA0xba03…b48bFor0.10.00%—6mo ago
880x88f6…0ec0For00.00%—6mo ago
Showing 20

07Forum

AIForum synthesis by Kvorumclaude-haiku-4-5
sentiment · favorablethread · constructive

Arguments for

  • The three-rule framework consistently applies a proven risk-reduction methodology across all L2 Comets, aligning supply caps with actual user demand rather than speculative headroom.— Gauntlet, PGov, Avantgarde
  • Compressed headroom reduces unused risk surface across the L2 footprint without displacing existing users, since all Rule 2 caps remain above current supply balances and preserve room for users to top up collateral during volatility.— Gauntlet, PGov, Avantgarde
  • The framework is particularly justified on L2s where long-tail collateral faces thinner liquidity, weaker arbitrage pathways, and more fragmented liquidator coverage than on Ethereum.— Avantgarde
  • Rule 1 deprecation of dormant assets (capping at zero) preserves withdraw, repay, and liquidate functionality for existing positions while preventing speculative new deposits on assets with negligible demand.— Gauntlet, PGov
  • All technical implementations passed comprehensive testing including Slither, Forge, Tenderly simulations, and scenario suite validation across all affected networks.— woof
  • The framework's mental model that unused headroom is unused risk surface is sound given the elevated frequency of long-tail collateral exploits across DeFi over the past year.— PGov

Arguments against

None surfaced.

Unresolved concerns

  • wstETH was added to the key collateral assets list only three weeks after the original proposal was posted, yet the proposal instructions do not mention it being excluded from cap reductions, creating ambiguity about whether Rule 3 was correctly applied.— pete
  • Several other L2 markets with low stETH utilization may also warrant cap reductions but were not included, including markets on Scroll and other chains listed by pete.— pete
  • Multiple Rule 2 assets are sized close to current utilization (mETH at ~51%, weETH at ~50%, wsuperOETHb at ~34%, OP at ~31%), meaning they may reach 80% utilization on day one and require frequent upward adjustments if organic demand continues to grow.— PGov, Avantgarde
  • Unclear governance process for reintroducing Rule 1 dormant assets back to normal supply caps if demand returns—whether they follow standard listing review or a lower-friction path.— PGov
  • The 20-30% buffer sizing may not adequately account for chain-specific liquidity depth, liquidator coverage, and stress event absorption capacity that varies across the seven different L2 networks.— Avantgarde

Notable participants

  • GauntletProposer; authored the supply cap reduction framework and detailed recommendations across all 16 L2 Comets and 37 collateral assets.
  • woofImplementation lead; prepared and submitted technical proposals with comprehensive testing and deployment details for all affected markets across L2s.
  • PGovFramework validator and forward-looking risk analyst; supported the proposal methodology while raising questions about utilization cadence and dormant asset reinstatement pathways.
  • AvantgardeRisk framework analyst; validated the aggregate compression ratios and assessed the particular justification for cap reductions on L2s given local liquidity constraints; voted in favor.
  • peteCritical questioner; raised concerns about inconsistent application of Rule 3 to wstETH and other low-utilization stETH markets potentially overlooked in the proposal.
Generated by Kvorum
model: claude-haiku-4-5
provider: anthropic
profile: anthropic-fast-v1
prompt: v1.0
generated: 2mo ago
Open the thread ↗