Simple Summary

Gauntlet provides this proposal for Phase 4 of the Compound V2 -> V3 Migration.

Background

Of the two options proposed in the recently published Phase 4 migration post, the community has voted in favor of Option 1, whose plan is outlined below. See the forum post for more detail.

• Increase v2 USDC Reserve Factor from 7.5% to 15%
• Decrease v2 daily USDC supply COMP rewards from 161.20 to 111.20 (-50)
• Decrease v2 daily USDC borrow COMP rewards from 161.20 to 111.20 (-50)
• Decrease v2 daily DAI supply COMP rewards from 161.20 to 111.20 (-50)
• Decrease v2 daily DAI borrow COMP rewards from 161.20 to 111.20 (-50)

Specification

This proposal implements a number of changes using several different contracts:

• v2 daily COMP rewards are updated using _setCompSpeeds on the Comptroller contract
• v2 USDC Reserve Factor is updated using _setReserveFactor on the cUSDC contract

By approving this proposal, you agree that any services provided by Gauntlet shall be governed by the terms of service available at gauntlet.network/tos.