[COMPOUND] BASE Comet USDbC IO Recommendations (2024-05-14)

Summary

Gauntlet recommends the following adjustments to the USDbC Comet incentives:

• Decrease Daily COMP Supply Rewards from 9 to 0.
• Decrease Daily COMP Borrow Rewards from 4 to 0.

Motivation

Gauntlet recommends reduction of incentives to the USDbC Comet. USDbC has been experiencing a decline in circulating supply and market share to the Native USDC token on BASE. Also, the recent BASE incentives to USDC liquidity markets has caused an outflow of supply and borrows from the USDbC Comet. Full proposal and forum discussion

Specification

This proposal updates the setBaseTrackingBorrowSpeed and setBaseTrackingSupplySpeed in the USDbC v3 Comet on BASE.

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/250