Compound

Simple Summary

Gauntlet provides this initial proposal for Compound V2 -> V3 Migration.

Background

Following community feedback, please see below an initial migration plan to align with the community’s strategic preference. See the forum post for more detail.

• Decrease v2 daily USDC supply COMP rewards from 241.20 to 211.20 (-30)
• Decrease v2 daily USDC borrow COMP rewards from 241.20 to 211.20 (-30)
• Decrease v2 daily DAI supply COMP rewards from 241.20 to 211.20 (-30)
• Decrease v2 daily DAI borrow COMP rewards from 241.20 to 211.20 (-30)
• Increase v3 daily USDC borrow COMP rewards from 161.41 to 281.41 (+120)
• Increase v3 ETH supply cap from 150k to 350k
• Increase v3 WBTC supply cap from 6k to 12k
• Increase storefront price factor from 50% to 60%

Specification

This proposal implements a number of changes using several different contracts:

• v2 daily COMP rewards are updated using _setCompSpeeds on the Comptroller contract
• v3 USDC daily COMP rewards are updated using setBaseTrackingBorrowSpeed on the Configurator contract
• v3 USDC supply caps are updated using updateAssetSupplyCap on the Configurator contract
• v3 USDC storefront price factor is updated using setStoreFrontPriceFactor on the Configurator contract

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.