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[COMPOUND] Initialize cUSDCv3 on Base

Voting ended about 2 years agoSucceeded

This proposal initializes the Compound III USDC market on Base as a first step to fully migrating to native USDC on base. The entirety of this proposal was simulated and indicates success. The parameters for this deployment and the rewards configuration were recommended by Gauntlet.

See links for more details:

  • proposal pull request
  • forum discussion

Proposal Actions

  1. The first proposal action sets the configurator factory address, sets Comet configuration, and deploys a new Comet implementation on Base. It also sets the rewards config for the new market to 20 COMP/Day for suppliers and 8 COMP/Day for borrowers.
  2. The second action updates the ENS TXT record v3-official-markets on v3-additional-grants.compound-community-licenses.eth, updating the official markets JSON to include the new Base cUSDCv3 market.
  3. The third action pays arr00 115 COMP for the development effort for this proposal.

https://compound.finance/governance/proposals/225

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Timeline

Mar 12, 2024Proposal created
Mar 14, 2024Proposal vote started
Mar 15, 2024Proposal vote ended
Apr 03, 2026Proposal updated