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Proposal

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[Gauntlet] Ethereum v3 USDC - Risk Recommendations (02/19/2024)

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by

by

Gauntlet

Gauntlet

ID 218

ID 218

Compound

Compound

Proposed on: Feb 20th, 2024

Proposed on: Feb 20th, 2024

Votes

Actions

Type

Address

Details

Custom

0x316f...36E3

updateAssetLiquidationFactor(..)

Custom

Account

0x316f...36E3

Method

updateAssetLiquidationFactor(..)

Custom

0x316f...36E3

updateAssetSupplyCap(..)

Custom

Account

0x316f...36E3

Method

updateAssetSupplyCap(..)

Custom

0x316f...36E3

updateAssetBorrowCollateralFactor(..)

Custom

Account

0x316f...36E3

Method

updateAssetBorrowCollateralFactor(..)

Custom

0x316f...36E3

updateAssetLiquidateCollateralFactor(..)

Custom

Account

0x316f...36E3

Method

updateAssetLiquidateCollateralFactor(..)

Custom

0x1EC6...8779

deployAndUpgradeTo(..)

Custom

Account

0x1EC6...8779

Method

deployAndUpgradeTo(..)

Proposal

Simple Summary

Gauntlet recommends the following risk parameter updates for the Ethereum v3 USDC comet:

UNI

  • Increase UNI Liquidation Penalty from 7% to 15%
  • Increase UNI Supply Cap from 6,000,000 to 8,000,000

WBTC

  • Increase WBTC Liquidation Factor from 77% to 85%.
  • Increase WBTC Collateral Factor from 70% to 80%.

For more details, see the full forum post here.

Motivation

Gauntlet recommends increasing UNI’s supply cap and liquidation penalty and WBTC's liquidation factor to balance risk management and capital efficiency.

Full proposal and forum discussion

Specification

This proposal updates the relevant parameters in the Ethereum v3 USDC comet

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.

Votes
Status