It is proposed to migrate the rsETH price feeds on the Mainnet WETH and wstETH Comets to a new 'MinMaxConstantPriceFeed' contract. This follows Gauntlet's proposal in response to the April 18 Kelp rsETH bridge exploit, and gives the Community Multisig a faster defensive lever than a full governance cycle.
This is intended as a temporary measure. Once the rsETH situation is resolved, a subsequent governance proposal will revert the price feeds to the prior configuration.
The new feed wraps the existing Kelp exchange rate and operates in one of two modes, set by the Community Multisig:
Bounds and mode changes are multisig-only, with no cooldown. A cursory review by SSPs was already performed and a final audit confirmation will be linked on the forum prior to proposal vote.
Implementation details: PR #1113.
On execution, the liquidation pause on rsETH/wrsETH collateral in these markets will be lifted. A follow-up proposal will revert these markets to their prior price feed configuration once the incident is resolved.