KVORUM
compoundSource: Compound governor oz · #597

Update Ethereum WETH Comet Borrow Rate IRM

executedAug 30, 2026, 03:13 AM UTCby680x683a…6c02

01Summary

AISummary by Kvorumclaude-haiku-4-5

Gauntlet proposes updating the Ethereum WETH Comet borrow interest rate model by increasing the annual borrow interest rate base from 1.00% to 1.50% and decreasing the annual borrow interest rate slope below the kink from 1.111111% to 0.5556%. These changes are designed to reduce reserve depletion at lower utilization levels while keeping borrowing costs effectively unchanged at and above the 90% utilization kink.

Type
parameter change

Key changes

  • Increase annual borrow interest rate base from 1.00% to 1.50%(medium)
  • Decrease annual borrow interest rate slope below the kink from 1.111111% to 0.5556%(medium)
  • Deploy and upgrade Ethereum WETH Comet to apply updated configuration(medium)
Contracts0xA17581A9E3356d9A858b789D68B4d866e593aE94
Generated by Kvorum
model: claude-haiku-4-5
provider: anthropic
profile: anthropic-fast-v1
prompt: v1.0
generated: 2mo ago
Read the description ↗

02Description

185 words

Update Ethereum WETH Comet Borrow Rate IRM

Summary

Gauntlet recommends updating the borrow interest rate model for the Ethereum WETH Comet.

This proposal implements the following parameter changes:

ParameterCurrentProposed
Annual Borrow Interest Rate Base1.00%1.50%
Annual Borrow Interest Rate Slope Low1.111111%0.5556%

No supply-side interest rate parameters are changed. The borrow kink and borrow slope above the kink also remain unchanged.

The proposed adjustment pivots the borrow curve below the 90% utilization kink. It is intended to reduce reserve depletion at lower utilization levels while keeping borrowing costs effectively unchanged at and above the kink.

Proposal Actions

  1. Set the annual borrow interest rate base to 0.015.
  2. Set the annual borrow interest rate slope below the kink to 0.005556.
  3. Deploy and upgrade the Ethereum WETH Comet to apply the updated configuration.

Additional Information

For the complete analysis, motivation, expected outcomes, risk considerations, and monitoring plan, see the Ethereum WETH Comet Borrow Rate IRM Updates forum post.

03Mismatch analysis

AIMismatch analysis by Kvorumclaude-sonnet-5
Consistent

Compared the two numeric parameter changes and the upgrade action in the description against the three decoded calldata actions. Action 0 sets borrow rate base to 1.5e16 (1e18=100% scale), which equals 1.5%, matching the proposed 1.50% base rate. Action 1 sets slope low to 5.556e15, equal to 0.5556%, matching the proposed slope value exactly. Action 2 is a deployAndUpgradeTo call on the same Comet proxy address referenced in actions 0 and 1, consistent with the description's claim of deploying and upgrading the WETH Comet to apply the new configuration. No supply-side, kink, or above-kink parameters appear in the calldata, consistent with the description's claim that those remain unchanged. All three decoded actions are explicitly described in the proposal's numbered action list, and no extra or omitted actions were found. Overall the prose accurately and completely reflects the on-chain calldata with correct unit conversions (percent vs 1e18 fixed-point).

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
#0setBorrowPerYearInterestRateBase(address,uint64)chain 0x1
Target
0x316f…36e3
Value
0 wei
Function
setBorrowPerYearInterestRateBase(address,uint64)
Arguments
{
  "newBase": "15000000000000000",
  "cometProxy": "0xA17581A9E3356d9A858b789D68B4d866e593aE94"
}
Calldata
#1setBorrowPerYearInterestRateSlopeLow(address,uint64)chain 0x1
Target
0x316f…36e3
Value
0 wei
Function
setBorrowPerYearInterestRateSlopeLow(address,uint64)
Arguments
{
  "newSlope": "5556000000000000",
  "cometProxy": "0xA17581A9E3356d9A858b789D68B4d866e593aE94"
}
Calldata
#2deployAndUpgradeTo(address,address)chain 0x1
Target
0x1ec6…8779
Value
0 wei
Function
deployAndUpgradeTo(address,address)
Arguments
{
  "cometProxy": "0xA17581A9E3356d9A858b789D68B4d866e593aE94",
  "configuratorProxy": "0x316f9708bB98af7dA9c68C1C3b5e79039cD336E3"
}
Calldata

05Tally

Summed from votes

Voters0
VP participating0
Outcome (current)—
Current support—

06Voters

0 total

No votes recorded yet.

07Forum

No forum thread is confidently linked to this proposal.