KVORUM
compoundSource: Compound governor oz · #589

Deprecation of Linea and Mantle Comets

executedJun 28, 2026, 06:37 AM UTCby680x683a…6c02

01Summary

AISummary by Kvorumclaude-haiku-4-5

Deprecate three under-utilized Compound comets on Linea (USDC and WETH) and Mantle (USDe) by setting supply caps to 0, reducing collateral factors by 50%, and adjusting interest rate parameters to eliminate reserve degrowth while maintaining liquidation factors.

Type
parameter change

Key changes

  • Set all collateral supply caps to 0 across all three comets (Linea USDC, Linea WETH, Mantle USDe)(high)
  • Reduce collateral factors by approximately 50% for all assets across the three comets(high)
  • Increase Annual Borrow Rate Base for Linea USDC from 1.50% to 6.00%(medium)
  • Increase Annual Borrow Rate Base for Linea WETH from 1.00% to 1.50%(low)
  • Increase Annual Borrow Rate Base for Mantle USDe from 1.50% to 4.50%(medium)
  • Set Borrow Rate Slope Low to 0% across all three comets to eliminate reserve degrowth(high)
  • Adjust supply rate parameters to maintain stable supply rates while eliminating reserve degrowth(medium)
  • Liquidation factors remain unchanged throughout all markets(low)

Notable concerns

  • These markets have seen limited adoption since deployment, indicating low utilization
  • Supply caps set to 0 will prevent new deposits but existing positions remain affected by collateral factor reductions
  • Risk parameter changes effectively wind down these markets rather than providing growth incentives
ContractsLinea USDC CometLinea WETH CometMantle USDe Comet
Generated by Kvorum
model: claude-haiku-4-5
provider: anthropic
profile: anthropic-fast-v1
prompt: v1.0
generated: 2mo ago
Read the description ↗

02Description

575 words

Deprecation of Linea and Mantle Comets

Simple Summary

Gauntlet recommends the following risk parameter changes to deprecate all active comets on Linea (USDC and WETH) and Mantle (USDe). These markets have seen limited adoption since deployment. The proposed changes set all collateral supply caps to 0, reduce borrow collateral factors by 50%, and update interest rate parameters to eliminate reserve degrowth across all three comets. Liquidation factors are left unchanged throughout.

Risk Parameters

Linea USDC Comet

StatusAssetSupply CapCollateral Factor (CF)Liquidation Factor (LF)
ProposedWETH042%90%
ProposedwstETH041%87%
ProposedWBTC040%85%

Linea WETH Comet

StatusAssetSupply CapCollateral Factor (CF)Liquidation Factor (LF)
ProposedwstETH045%93%
ProposedWBTC040%85%
ProposedweETH045%93%

Mantle USDe Comet

StatusAssetSupply CapCollateral Factor (CF)Liquidation Factor (LF)
ProposedmETH040%85%
ProposedWETH041%87%
ProposedFBTC039%83%

Interest Rate Parameters

Linea USDC Comet

ParameterCurrentProposed
Annual Borrow Rate Base1.50%6.00%
Annual Borrow Rate Slope Low5.00%0%
Borrow Kink90%90%
Annual Borrow Rate Slope High340.00%340.00%
Annual Supply Rate Base0%0%
Annual Supply Rate Slope Low5.40%5.9034%
Supply Kink90%90%
Annual Supply Rate Slope High303.40%303.6694%

Linea WETH Comet

ParameterCurrentProposed
Annual Borrow Rate Base1.00%1.50%
Annual Borrow Rate Slope Low1.55%0%
Borrow Kink90%90%
Annual Borrow Rate Slope High15.00%15.00%
Annual Supply Rate Base0%0%
Annual Supply Rate Slope Low1.50%1.47585%
Supply Kink90%90%
Annual Supply Rate Slope High13.50%13.47735%

Mantle USDe Comet

ParameterCurrentProposed
Annual Borrow Rate Base1.50%4.50%
Annual Borrow Rate Slope Low3.33%0%
Borrow Kink90%90%
Annual Borrow Rate Slope High400.00%400.00%
Annual Supply Rate Base0%0%
Annual Supply Rate Slope Low3.90%4.42755%
Supply Kink90%90%
Annual Supply Rate Slope High360.00%357.09205%

More details about this proposal can be found here

03Mismatch analysis

AIMismatch analysis by Kvorummedium confidenceclaude-sonnet-5
Consistent

The decoded actions consist of two cross-chain governance messages (to Linea and Mantle) that bundle sub-calls matching exactly the function names expected for the described changes: updateAssetBorrowCollateralFactor and updateAssetSupplyCap for each collateral asset (3 assets per comet, matching the three collateral rows listed for each of the three comets), plus four interest-rate setter calls per comet (borrow rate base, borrow rate slope low, supply rate slope low, supply rate slope high) and a deployAndUpgradeTo call to activate the new configuration. The count and ordering of calls (11 per comet: 6 collateral calls + 4 IR calls + 1 upgrade) matches the three comets described (2 batches under the Linea message for the USDC and WETH comets, 1 batch under the Mantle message for the USDe comet). No borrow/supply kink or borrow-slope-high setter calls are present, consistent with the description's claim that those parameters are left unchanged. Liquidation factor setters are absent as well, consistent with 'liquidation factors unchanged'. The raw hex-encoded numeric arguments could not be individually decoded to verify each percentage figure to the decimal precision shown in the tables, so exact numeric equivalence (e.g., 41% CF, 6.00% borrow base) could not be fully confirmed, which limits confidence to medium. However, the structural alignment between the described actions and the decoded function calls is very strong, with no evidence of extra, missing, or misdirected actions, targets, or omitted significant operations. Therefore the proposal appears consistent with its description.

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

04Actions

2 total
#0sendMessage(address,uint256,bytes)chain 0x1
Target
0xd19d…876f
Value
0 wei
Function
sendMessage(address,uint256,bytes)
Arguments
{
  "_to": "0x1F71901daf98d70B4BAF40DE080321e5C2676856",
  "_fee": "0",
  "_calldata": 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}
Calldata
#1sendMessage(address,bytes,uint32)chain 0x1
Target
0x676a…7120
Value
0 wei
Function
sendMessage(address,bytes,uint32)
Arguments
{
  "_target": "0xc91EcA15747E73d6dd7f616C49dAFF37b9F1B604",
  "_message": 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  "_minGasLimit": "2500000"
}
Calldata

05Tally

Summed from votes

Voters0
VP participating0
Outcome (current)—
Current support—

06Voters

0 total

No votes recorded yet.

07Forum

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

Arguments for

  • The three comets have seen limited adoption since deployment with low collateral balances and borrow activity that do not justify continued active market operation.— Gauntlet
  • The parameter architecture effectively halts new collateral entry via zero supply caps while the 50% collateral factor haircuts reduce incentive for existing positions to remain open without requiring a hard freeze.— PGov
  • The supply cap reduction to zero prevents new capital from entering these markets while existing positions remain unaffected, closing the market to new entrants without disrupting current users.— Gauntlet
  • Interest rate parameter updates eliminate reserve degrowth during deprecation by setting borrow rate slope low to 0%, concentrating borrowing costs at the kink and recalibrating supply rates to prevent reserves from declining.— Gauntlet
  • Liquidation factors remain unchanged, preserving the existing liquidation buffer for current users and avoiding triggering forced liquidations.— Gauntlet
  • All borrowers across the three comets are solvent under the proposed collateral factors with no positions falling into a limbo zone between new CF and LF, ensuring no existing borrower is trapped.— Gauntlet, PGov
  • Liquidation coverage is adequate given small total borrow sizes, healthy collateral ratios, and documented liquidator activity on at least one comet, ensuring an orderly exit path.— Gauntlet

Arguments against

None surfaced.

Unresolved concerns

  • Whether remaining open positions on the comets represent meaningful concentration in a single address or protocol, and whether concentration risk could complicate the deprecation process.— PGov
  • Whether liquidators have sufficiently deprioritized these low-utilization markets such that the unchanged liquidation factors may not guarantee clean liquidation coverage for remaining borrowers.— PGov

Notable participants

  • GauntletProposal author and risk analyst providing the deprecation recommendation, parameter specifications, and detailed liquidation analysis.
  • PGovGovernance participant who raised substantive concerns about borrower concentration and liquidation coverage before approval.
Generated by Kvorum
model: claude-haiku-4-5
provider: anthropic
profile: anthropic-fast-v1
prompt: v1.0
generated: 2mo ago
Open the thread ↗