Simple Summary
Gauntlet recommends the following risk parameter changes to deprecate all active comets on Linea (USDC and WETH) and Mantle (USDe). These markets have seen limited adoption since deployment. The proposed changes set all collateral supply caps to 0, reduce borrow
collateral factors by 50%, and update interest rate parameters to eliminate reserve
degrowth across all three comets. Liquidation factors are left unchanged throughout.
Risk Parameters
Linea USDC Comet
| Status | Asset | Supply Cap | Collateral Factor (CF) | Liquidation Factor (LF) |
|---|
| Proposed | WETH | 0 | 42% | 90% |
| Proposed | wstETH | 0 | 41% | 87% |
| Proposed | WBTC | 0 | 40% | 85% |
Linea WETH Comet
| Status | Asset | Supply Cap | Collateral Factor (CF) | Liquidation Factor (LF) |
|---|
| Proposed | wstETH | 0 | 45% | 93% |
| Proposed | WBTC | 0 | 40% | 85% |
| Proposed | weETH | 0 | 45% | 93% |
Mantle USDe Comet
| Status | Asset | Supply Cap | Collateral Factor (CF) | Liquidation Factor (LF) |
|---|
| Proposed | mETH | 0 | 40% | 85% |
| Proposed | WETH | 0 | 41% | 87% |
| Proposed | FBTC | 0 | 39% | 83% |
Interest Rate Parameters
Linea USDC Comet
| Parameter | Current | Proposed |
|---|
| Annual Borrow Rate Base | 1.50% | 6.00% |
| Annual Borrow Rate Slope Low | 5.00% | 0% |
| Borrow Kink | 90% | 90% |
| Annual Borrow Rate Slope High | 340.00% | 340.00% |
| Annual Supply Rate Base | 0% | 0% |
| Annual Supply Rate Slope Low | 5.40% | 5.9034% |
| Supply Kink | 90% | 90% |
| Annual Supply Rate Slope High | 303.40% | 303.6694% |
Linea WETH Comet
| Parameter | Current | Proposed |
|---|
| Annual Borrow Rate Base | 1.00% | 1.50% |
| Annual Borrow Rate Slope Low | 1.55% | 0% |
| Borrow Kink | 90% | 90% |
| Annual Borrow Rate Slope High | 15.00% | 15.00% |
| Annual Supply Rate Base | 0% | 0% |
| Annual Supply Rate Slope Low | 1.50% | 1.47585% |
| Supply Kink | 90% | 90% |
| Annual Supply Rate Slope High | 13.50% | 13.47735% |
Mantle USDe Comet
| Parameter | Current | Proposed |
|---|
| Annual Borrow Rate Base | 1.50% | 4.50% |
| Annual Borrow Rate Slope Low | 3.33% | 0% |
| Borrow Kink | 90% | 90% |
| Annual Borrow Rate Slope High | 400.00% | 400.00% |
| Annual Supply Rate Base | 0% | 0% |
| Annual Supply Rate Slope Low | 3.90% | 4.42755% |
| Supply Kink | 90% | 90% |
| Annual Supply Rate Slope High | 360.00% | 357.09205% |
More details about this proposal can be found here
