Proposal summary

Compound Growth Program [AlphaGrowth] proposes the deployment of Compound III to the Mainnet network. This proposal takes the governance steps recommended and necessary to initialize a Compound III WBTC market on Mainnet; upon execution, cWBTCv3 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

USDC on Linea proposal is active on the moment of pushing this proposal. We expect proposal 401 will reach the quorum and will be executed successfully. In case we need to cancel proposal 401, we need to cancel this proposal too.## Proposal Actions

The first proposal action sets the CometFactory for the new Comet instance in the existing Configurator.

The second action configures the Comet instance in the Configurator.

The third action deploys an instance of the newly configured factory and upgrades the Comet instance to use that implementation.

The fourth action configures the existing rewards contract for the newly deployed Comet instance.

The fifth action reduces Compound’s cWBTC reserves and transfers it to Timelock, in order to seed the market reserves for the cWBTCv3 Comet.

The sixth action transfers reserves from Timelock to the cWBTCv3 Comet.

The seventh 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 Ethereum Mainnet cWBTCv3 market.