—
—
—
—
—
—
Details
1
Configurator.setFactory("0x5D409e56D886231aDAf00c8775665AD0f9897b56",
"0x698A949f3b4f7a5DdE236106F25Fa0eAcA0FcEF1")
2
Configurator.setConfiguration("0x5D409e56D886231aDAf00c8775665AD0f9897b56",
["Timelock",
"CommunityMultiSig",
"0xdC035D45d973E3EC169d2276DDab16f1e407384F",
"0xfF30586cD0F29eD462364C7e81375FC0C71219b1",
"0x95DeDD64b551F05E9f59a101a519B024b6b116E7",
900000000000000000, 39000000000000000, 3600000000000000000, 0,
900000000000000000, 33300000000000004, 4000000000000000000,
15000000000000000, 600000000000000000, 1000000000000000,
289351851851, 289351851851, 10000000000000000000000,
10000000000000000000, 20000000000000000000000000, [["WETH",
"0x5f4eC3Df9cbd43714FE2740f5E3616155c5b8419", 18,
830000000000000000, 900000000000000000, 950000000000000000,
50000000000000000000000],
["0x4c9EDD5852cd905f086C759E8383e09bff1E68B3",
"0xa569d910839Ae8865Da8F8e70FfFb0cBA869F961", 18,
700000000000000000, 750000000000000000, 850000000000000000,
50000000000000000000000000],
["0xcbB7C0000aB88B473b1f5aFd9ef808440eed33Bf",
"0x2665701293fCbEB223D11A08D826563EDcCE423A", 8,
800000000000000000, 850000000000000000, 950000000000000000,
15000000000], ["0x18084fbA666a33d37592fA2633fD49a74DD93a88",
"0x8350b7De6a6a2C1368E7D4Bd968190e13E354297", 18,
760000000000000000, 810000000000000000, 900000000000000000,
285000000000000000000], ["wstETH",
"0x7dE363b6Bf0a892B94a1Cd0C9DF76826bFC14228", 18,
820000000000000000, 870000000000000000, 920000000000000000,
10000000000000000000000]]])
3
Deploy and upgrade new
implementation for 0x5D409e56D886231aDAf00c8775665AD0f9897b56
via Configurator
4
Set reward token for
market 0x5D409e56D886231aDAf00c8775665AD0f9897b56 as COMP
5
Reduce reserves of cDAI
by 300000.00 DAI
6
DAI.approve("0x3225737a9Bbb6473CB4a45b7244ACa2BeFdB276A",
300000000000000000000000)
7
0x3225737a9Bbb6473CB4a45b7244ACa2BeFdB276A.daiToUsds("0x5D409e56D886231aDAf00c8775665AD0f9897b56",
300000000000000000000000)
8
Set ENS text record for
v3-additional-grants.compound-community-licenses.eth
with key: v3-official-markets and value:
{"1":[{"baseSymbol":"USDC","cometAddress":"0xc3d688B66703497DAA19211EEdff47f25384cdc3"},{"baseSymbol":"WETH","cometAddress":"0xA17581A9E3356d9A858b789D68B4d866e593aE94"},{"baseSymbol":"USDT","cometAddress":"0x3Afdc9BCA9213A35503b077a6072F3D0d5AB0840"},{"baseSymbol":"wstETH","cometAddress":"0x3D0bb1ccaB520A66e607822fC55BC921738fAFE3"},{"baseSymbol":"USDS","cometAddress":"0x5D409e56D886231aDAf00c8775665AD0f9897b56"}],"10":[{"baseSymbol":"USDC","cometAddress":"0x2e44e174f7D53F0212823acC11C01A11d58c5bCB"},{"baseSymbol":"USDT","cometAddress":"0x995E394b8B2437aC8Ce61Ee0bC610D617962B214"},{"baseSymbol":"WETH","cometAddress":"0xE36A30D249f7761327fd973001A32010b521b6Fd"}],"137":[{"baseSymbol":"USDC","cometAddress":"0xF25212E676D1F7F89Cd72fFEe66158f541246445"},{"baseSymbol":"USDT","cometAddress":"0xaeB318360f27748Acb200CE616E389A6C9409a07"}],"8453":[{"baseSymbol":"USDbC","cometAddress":"0x9c4ec768c28520B50860ea7a15bd7213a9fF58bf"},{"baseSymbol":"WETH","cometAddress":"0x46e6b214b524310239732D51387075E0e70970bf"},{"baseSymbol":"USDC","cometAddress":"0xb125E6687d4313864e53df431d5425969c15Eb2F"},{"baseSymbol":"AERO","cometAddress":"0x784efeB622244d2348d4F2522f8860B96fbEcE89"}],"42161":[{"baseSymbol":"USDC.e","cometAddress":"0xA5EDBDD9646f8dFF606d7448e414884C7d905dCA"},{"baseSymbol":"USDC","cometAddress":"0x9c4ec768c28520B50860ea7a15bd7213a9fF58bf"},{"baseSymbol":"WETH","cometAddress":"0x6f7D514bbD4aFf3BcD1140B7344b32f063dEe486"},{"baseSymbol":"USDT","cometAddress":"0xd98Be00b5D27fc98112BdE293e487f8D4cA57d07"}],"534352":[{"baseSymbol":"USDC","cometAddress":"0xB2f97c1Bd3bf02f5e74d13f02E3e26F93D77CE44"}]}
Proposal summary
Compound Growth Program
[AlphaGrowth] proposes the deployment of Compound III to the Mainnet
network. This proposal takes the governance steps recommended and necessary
to initialize a Compound III USDS market on Mainnet; upon execution, cUSDSv3
will be ready for use. Simulations have confirmed the market’s readiness, as
much as possible, using the Comet
scenario suite. The new parameters include setting the risk
parameters based off of the recommendations
from Gauntlet.
Further detailed information
can be found on the corresponding proposal pull
request, deploy
market GitHub action run and forum
discussion.
wstETH price feed
For LSTs, the goal is to use
full exchange rate price feeds. Thus, we treat that stETH:ETH is 1:1.
sUSDS and sUSDe collaterals
Gauntlet suggests having
sUDSS and sUSDe collaterals. This proposal does not include them, because
the price feed is under the audit. We suggest to start bootstrapping the
liquidity without these collaterals and as the price feed is audited, we
will add these collaterals. We discussed it with Gauntlet, and we received
the approval to have such an approach.
Proposal Actions
The first proposal action
sets the CometFactory for the new Comet instance in the existing
Configurator.
The second action configures
the Comet instance in the Configurator.
The third action deploys an
instance of the newly configured factory and upgrades the Comet instance to
use that implementation.
The fourth action configures
the existing rewards contract for the newly deployed Comet instance.
The fifth action reduces
Compound’s cDAI
reserves and transfers it to Timelock, in order to convert it to USDS to
then seed the market reserves for the cUSDSv3 Comet.
The sixth action approves DAI
to DAI-to-USDS native converter.
The seventh action converts
DAI to USDS with 1:1 ratio and transfers USDS to cUSDSv3 Comet.
The eight action updates the
ENS TXT record
v3-official-markets on
v3-additional-grants.compound-community-licenses.eth, updating
the official markets JSON to include the new Ethereum Mainnet cUSDSv3
market.