Proposal summary

This proposal updates existing price feeds for wstETH and ezETH on the USDC market on Arbitrum.

CAPO summary

CAPO is a price oracle adapter designed to support assets that grow gradually relative to a base asset - such as liquid staking tokens that accumulate yield over time. It provides a mechanism to track this expected growth while protecting downstream protocol from sudden or manipulated price spikes. wstETH and ezETH price feeds are updated to their CAPO implementations.

Further detailed information can be found on the corresponding proposal pull request and forum discussion for CAPO.

CAPO audit

CAPO has been audited by OpenZeppelin, as well as the LST / LRT implementation here.

Proposal actions

The first action updates wstETH and ezETH price feeds to the CAPO implementation, This sends the encoded 'updateAssetPriceFeed' and 'deployAndUpgradeTo' calls across the bridge to the governance receiver on Arbitrum.