Proposal summary

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

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

Price FeedFor LRT/LSTs we use exchange rate price feeds. We are going to use this exchange rate price feed by Chainlink. It has the wrong description wrsETH / rsETH Exchange Rate. However, we were assured, that it is the right price feed by the Chainlink team.

Proposal Actions

The first proposal action adds rsETH to the WETH Comet on Arbitrum. This sends the encoded addAsset and deployAndUpgradeTo calls across the bridge to the governance receiver on Arbitrum.