Proposal summary

Compound Growth Program [AlphaGrowth] proposes to add weETH into cWETHv3 on Ethereum network. This proposal takes the governance steps recommended and necessary to update a Compound III WETH market on Ethereum. 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 on the recommendations from Gauntlet weETH.

Further detailed information can be found on the corresponding [proposal pull request](PR - https://github.com/compound-finance/comet/pull/869) and forum discussion weETH.

Proposal Actions

The first proposal action adds weETH asset as collateral with corresponding configurations.

The second action sets new Annual Supply Interest Rate Slope High to 100%.

The third action sets new Annual Borrow Interest Rate Slope High to 115%.

The fourth action deploys and upgrades Comet to a new version.