Proposals

Proposals

/

Proposal

Executed

[Gauntlet] COMP Recommendations - Ethereum v2, USDC and USDT Comet on Mainnet

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by

by

Gauntlet

Gauntlet

ID 295

ID 295

Compound

Compound

Proposed on: Jul 31st, 2024

Proposed on: Jul 31st, 2024

Votes

Actions

Type

Address

Details

Custom

0x3d98...Cd3B

_setCollateralFactor(..)

Custom

Account

0x3d98...Cd3B

Method

_setCollateralFactor(..)

Custom

0x3d98...Cd3B

_setBorrowPaused(..)

Custom

Account

0x3d98...Cd3B

Method

_setBorrowPaused(..)

Custom

0x3d98...Cd3B

_setMarketBorrowCaps(..)

Custom

Account

0x3d98...Cd3B

Method

_setMarketBorrowCaps(..)

Custom

0x316f...36E3

updateAssetBorrowCollateralFactor(..)

Custom

Account

0x316f...36E3

Method

updateAssetBorrowCollateralFactor(..)

Custom

0x316f...36E3

updateAssetSupplyCap(..)

Custom

Account

0x316f...36E3

Method

updateAssetSupplyCap(..)

Custom

0x1EC6...8779

deployAndUpgradeTo(..)

Custom

Account

0x1EC6...8779

Method

deployAndUpgradeTo(..)

Custom

0x316f...36E3

updateAssetBorrowCollateralFactor(..)

Custom

Account

0x316f...36E3

Method

updateAssetBorrowCollateralFactor(..)

Custom

0x1EC6...8779

deployAndUpgradeTo(..)

Custom

Account

0x1EC6...8779

Method

deployAndUpgradeTo(..)

Proposal

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.

Votes
Status