Compound Growth Program [AlphaGrowth] proposes the deployment of Compound III to the Linea network. This proposal takes the governance steps recommended and necessary to initialize a Compound III USDC market on Linea; upon execution, cUSDCv3 will be ready for use. 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, deploy market GitHub action run and forum discussion.

ENS TXT record update

USDS on Base proposal is active on the moment of pushing this proposal. The proposal reached the quorum and we expect that the proposal will be executed without fail. In case we need to cancel proposal 395, we need to cancel this proposal too

Proposal Actions

The first proposal action sets the Comet configuration, deploys a new Comet implementation, and sets the reward config on Linea. This sends the encoded setConfiguration, deployAndUpgradeTo, setRewardConfig calls across the bridge to the governance receiver on Linea.

The second action approves USDC tokens to the bridge.

The third action sends USDC tokens to the Linea chain via a special native USDC bridge.

The fourth action approves COMP tokens to the bridge.

The fifth action sends COMP tokens to the Linea chain via bridge.

The sixth action updates the ENS TXT record v3-official-markets on v3-additional-grants.compound-community-licenses.eth, updating the official markets JSON to include the new Linea cUSDCv3 market.