Summary

Gauntlet recommends the following risk parameters: Ethereum v2

• Decrease COMP Collateral Factor from 15% to 0%
• Decrease the COMP Borrow Cap to 1
• Pause COMP Borrows on Comp

Ethereum USDC Comet

• Decrease COMP Collateral Factor from 65% to 50%
• Decrease COMP Supply Cap from 900,000 to 100,000

Ethereum USDT Comet

• Decrease COMP Collateral Factor from 65% to 50%

Motivation

Gauntlet is recommending canceling Proposal 291 since market conditions have improved and risks associated with large liquidations have subsided. We still recommend to fully deprecate the COMP v2 market but recommend setting more conservative parameters for the v3 comets on which COMP is listed.

Full proposal and forum discussions can be found here.

Specification

The proposal updates the parameters by using the respective methods on the Configurator.

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.