[COMPOUND] [Gauntlet] 2024-01-29: Compound v2 Deprecation (Phase 8)

Simple Summary

A proposal from Gauntlet to adjust 8 Compound v2 risk parameters for Phase 8 of the Compound v2 Deprecation.

Gauntlet recommends the following changes:

• Decrease cAAVE Collateral Factor from 48% to 43%
• Decrease cBAT Collateral Factor from 55% to 50%
• Decrease cCOMP Collateral Factor from 35% to 30%
• Decrease cLINK Collateral Factor from 54% to 49%
• Decrease cMKR Collateral Factor from 48% to 43%
• Decrease cSUSHI Collateral Factor from 42% to 37%
• Decrease cYFI Collateral Factor from 50% to 45%
• Decrease cZRX Collateral Factor from 40% to 35%

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/214