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Event HorizonEvent Horizonby0xFAD69Bd739c64cC8e3f1C3bb3B60fe4f160174Cchvax.eth

[COMPOUND] Deprecate stMATIC in cUSDCv3 on Polygon

Voting ended 25 days agoFailed

Deprecate stMATIC in cUSDCv3 on Polygon

Proposal summary

WOOF! propose to deprecate stMATIC as collateral in cUSDCv3 on Polygon by updating its price feed to a constant price feed with a price of 1 wei and set its supply cap to 0.

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

Proposal actions

The first action updates stMATIC price feed to the constant price feed with a price of 1 wei and sets its supply cap to 0. This sends the encoded 'updateAssetPriceFeed', 'updateAssetSupplyCap' and 'deployAndUpgradeTo' calls across the bridge to the governance receiver on Polygon.

https://tally.xyz/gov/compound/proposal/564

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Timeline

Apr 08, 2026Proposal created
Apr 10, 2026Proposal vote started
Apr 11, 2026Proposal vote ended
May 05, 2026Proposal updated