Proposal summary

Woof proposes to deprecate pumpBTC from cWBTCv3 on Ethereum network, since deprecation of its Chainlink oracle.

In order to achieve this price feed will be updated to a new one, which will return the smallest acceptable price - 0.00000001 (1e-8).

This proposal takes the governance steps recommended and necessary to update a Compound III WBTC market on Ethereum. Simulations have confirmed the market’s readiness, as much as possible, using the Comet scenario suite.

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

Proposal Actions

The first proposal action updates pumpBTC price feed to the price feed that returns the smallest acceptable price.

The second action deploys and upgrades Comet to a new version.