Summary

We are seeking to gauge community support for the proposed plan to deprecate Compound V2.

Motivation

• V2 usage has materially declined as activity has shifted to V3 (the primary deployment for ~3 years).
• V2’s pooled-collateral model and long-tail markets increase systemic and governance risk compared to V3.
• A staged wind-down reduces complexity and attack surfaces.

Deprecation Plan

If approved on-chain, the V2 deprecation plan will be implemented via the following steps:

• Disable new supply & borrows across all V2 markets (repay/withdraw remain open)
• Set Reserve Factors to 100% so all interest accrues to reserves
• Publish a banner on V2 UI informing users of the deprecation plan

Reference

Full forum post with background and proposed timeline: [Gauntlet] Compound V2 Deprecation Proposal

Proposed Timeline

• Forum post (complete): Sept 19, 2025
• Snapshot vote: Sept 29 – Oct 6, 2025
• UI banner published: Oct 6, 2025
• On-chain proposal: Oct 10 – Oct 18, 2025
• Execution (if passed on-chain): Oct 20, 2025

Voting Options

YES - Approve the V2 deprecation plan NO - Reject the V2 deprecation plan

Note: This Snapshot vote is advisory/non-binding; any protocol changes require an on-chain vote. Proposed dates are targets and subject to adjustment via governance.