Proposal summary

Compound Growth Program [AlphaGrowth] proposes to update 4 Comets to a new version, which supports up to 24 collaterals. This proposal takes the governance steps recommended and necessary to update Compound III USDT, USDC, WETH and USDC.e markets on Arbitrum. Simulations have confirmed the market’s readiness, as much as possible, using the Comet scenario suite.

Detailed information can be found on the corresponding proposal pull request and forum discussion.

Proposal Actions

The first action sets the factory to the newly deployed factory, extension delegate to the newly deployed contract and deploys and upgrades Comet to a new version for all 4 comets: cUSDTv3, cUSDCv3, cWETHv3 and cUSDCev3.