[COMPOUND] [Gauntlet] 2024-02-12: Compound v2 Deprecation (Phase 9)

Simple Summary

For Phase 9 of the Compound v2 deprecation, Gauntlet recommends decreasing the Collateral Factor for v2 collateral assets. Specifically, Gauntlet recommends the following changes:

• Decrease AAVE Collateral Factor from 43% to 38%
• Decrease BAT Collateral Factor from 50% to 45%
• Decrease COMP Collateral Factor from 30% to 25%
• Decrease LINK Collateral Factor from 49% to 44%
• Decrease MKR Collateral Factor from 43% to 38%
• Decrease SUSHI Collateral Factor from 37% to 32%
• Decrease YFI Collateral Factor from 45% to 40%
• Decrease ZRX Collateral Factor from 35% to 30%

For more details, see the full forum post here.

Motivation

In this September 2022 snapshot vote, the community voted that each asset’s Collateral Factor may be reduced by an absolute percentage of up to 5%. After our analysis, Gauntlet recommends this max 5% decrease for each stated collateral asset in order to further deprecate the v2 market.

Full proposal and forum discussion

Specification

The proposal updates the parameters using the _setCollateralFactor method of the relevant cToken contracts.

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.

https://compound.finance/governance/proposals/217