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feat: add rsETH collateral into Mainnet WETH market
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deployments/mainnet/weth/migrations/1718968177_add_weeth_collateral.ts
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deployments/mainnet/weth/migrations/1718972942_add_rseth_collateral.ts
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import { expect } from 'chai'; | ||
import { DeploymentManager } from '../../../../plugins/deployment_manager/DeploymentManager'; | ||
import { migration } from '../../../../plugins/deployment_manager/Migration'; | ||
import { exp, proposal } from '../../../../src/deploy'; | ||
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||
const RSETH_ADDRESS = '0xA1290d69c65A6Fe4DF752f95823fae25cB99e5A7'; | ||
const RSETH_PRICE_FEED_ADDRESS = '0x03c68933f7a3F76875C0bc670a58e69294cDFD01'; | ||
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export default migration('1718972942_add_rseth_collateral', { | ||
async prepare(deploymentManager: DeploymentManager) { | ||
const _rsETHScalingPriceFeed = await deploymentManager.deploy( | ||
'rsETH:priceFeed', | ||
'pricefeeds/ScalingPriceFeed.sol', | ||
[ | ||
RSETH_PRICE_FEED_ADDRESS, // rsETH / ETH price feed | ||
8 // decimals | ||
] | ||
); | ||
return { rsETHScalingPriceFeed: _rsETHScalingPriceFeed.address }; | ||
}, | ||
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||
async enact(deploymentManager: DeploymentManager, _, { rsETHScalingPriceFeed }) { | ||
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const trace = deploymentManager.tracer(); | ||
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const rsETH = await deploymentManager.existing( | ||
'rsETH', | ||
RSETH_ADDRESS, | ||
'mainnet', | ||
'contracts/ERC20.sol:ERC20' | ||
); | ||
const rsEthPricefeed = await deploymentManager.existing( | ||
'rsETH:priceFeed', | ||
rsETHScalingPriceFeed, | ||
'mainnet' | ||
); | ||
|
||
const { | ||
governor, | ||
comet, | ||
cometAdmin, | ||
configurator, | ||
} = await deploymentManager.getContracts(); | ||
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||
const rsETHAssetConfig = { | ||
asset: rsETH.address, | ||
priceFeed: rsEthPricefeed.address, | ||
decimals: await rsETH.decimals(), | ||
borrowCollateralFactor: exp(0.80, 18), | ||
liquidateCollateralFactor: exp(0.85, 18), | ||
liquidationFactor: exp(0.9, 18), | ||
supplyCap: exp(5_000, 18), | ||
}; | ||
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const mainnetActions = [ | ||
// 1. Add rsETH as asset | ||
{ | ||
contract: configurator, | ||
signature: 'addAsset(address,(address,address,uint8,uint64,uint64,uint64,uint128))', | ||
args: [comet.address, rsETHAssetConfig], | ||
}, | ||
// 2. Set new Annual Supply Interest Rate Slope High to 100% | ||
{ | ||
contract: configurator, | ||
signature: 'setSupplyPerYearInterestRateSlopeHigh(address,uint64)', | ||
args: [ | ||
comet.address, | ||
exp(1, 18) // newSupplyPerYearInterestRateSlopeHigh | ||
], | ||
}, | ||
// 3. Set new Annual Borrow Interest Rate Slope High to 115% | ||
{ | ||
contract: configurator, | ||
signature: 'setBorrowPerYearInterestRateSlopeHigh(address,uint64)', | ||
args: [ | ||
comet.address, | ||
exp(1.15, 18) // newBorrowPerYearInterestRateSlopeHigh | ||
], | ||
}, | ||
// 4. Deploy and upgrade to a new version of Comet | ||
{ | ||
contract: cometAdmin, | ||
signature: 'deployAndUpgradeTo(address,address)', | ||
args: [configurator.address, comet.address], | ||
}, | ||
]; | ||
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const description = '# Add rsETH as collateral into cWETHv3 on Mainnet\n\n## Proposal summary\n\nCompound Growth Program [AlphaGrowth] proposes to add rsETH into cWETHv3 on Ethereum network. This proposal takes the governance steps recommended and necessary to update a Compound III WETH market on Ethereum. Simulations have confirmed the market’s readiness, as much as possible, using the [Comet scenario suite](https://github.com/compound-finance/comet/tree/main/scenario). The new parameters include setting the risk parameters based on the [recommendations from Gauntlet rsETH](https://www.comp.xyz/t/add-rseth-market-on-ethereum-mainnet/5118/8).\n\nFurther detailed information can be found on the corresponding [proposal pull request](https://github.com/compound-finance/comet/pull/870) and [forum discussion rsETH](https://www.comp.xyz/t/add-rseth-market-on-ethereum-mainnet/5118).\n\n\n## Proposal Actions\n\nThe first proposal action adds rsETH asset as collateral with corresponding configurations.\n\nThe second action sets new Annual Supply Interest Rate Slope High to 100%.\n\nThe third action sets new Annual Borrow Interest Rate Slope High to 115%.\n\nThe fourth action deploys and upgrades Comet to a new version.'; | ||
const txn = await deploymentManager.retry(async () => | ||
trace( | ||
await governor.propose(...(await proposal(mainnetActions, description))) | ||
) | ||
); | ||
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const event = txn.events.find( | ||
(event) => event.event === 'ProposalCreated' | ||
); | ||
const [proposalId] = event.args; | ||
trace(`Created proposal ${proposalId}.`); | ||
}, | ||
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async enacted(deploymentManager: DeploymentManager): Promise<boolean> { | ||
return false; | ||
}, | ||
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async verify(deploymentManager: DeploymentManager) { | ||
const { comet, configurator } = await deploymentManager.getContracts(); | ||
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const rsETHAssetIndex = Number(await comet.numAssets()) - 1; | ||
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const rsETH = await deploymentManager.existing( | ||
'rsETH', | ||
RSETH_ADDRESS, | ||
'mainnet', | ||
'contracts/ERC20.sol:ERC20' | ||
); | ||
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const rsETHAssetConfig = { | ||
asset: rsETH.address, | ||
priceFeed: '', | ||
decimals: await rsETH.decimals(), | ||
borrowCollateralFactor: exp(0.80, 18), | ||
liquidateCollateralFactor: exp(0.85, 18), | ||
liquidationFactor: exp(0.9, 18), | ||
supplyCap: exp(5_000, 18), // 5_000 | ||
}; | ||
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// 1. Compare rsETH asset config with Comet and Configurator asset info | ||
const cometRsETHAssetInfo = await comet.getAssetInfoByAddress( | ||
RSETH_ADDRESS | ||
); | ||
expect(rsETHAssetIndex).to.be.equal(cometRsETHAssetInfo.offset); | ||
expect(rsETHAssetConfig.asset).to.be.equal(cometRsETHAssetInfo.asset); | ||
expect(exp(1, rsETHAssetConfig.decimals)).to.be.equal( | ||
cometRsETHAssetInfo.scale | ||
); | ||
expect(rsETHAssetConfig.borrowCollateralFactor).to.be.equal( | ||
cometRsETHAssetInfo.borrowCollateralFactor | ||
); | ||
expect(rsETHAssetConfig.liquidateCollateralFactor).to.be.equal( | ||
cometRsETHAssetInfo.liquidateCollateralFactor | ||
); | ||
expect(rsETHAssetConfig.liquidationFactor).to.be.equal( | ||
cometRsETHAssetInfo.liquidationFactor | ||
); | ||
expect(rsETHAssetConfig.supplyCap).to.be.equal( | ||
cometRsETHAssetInfo.supplyCap | ||
); | ||
const configuratorRsETHAssetConfig = ( | ||
await configurator.getConfiguration(comet.address) | ||
).assetConfigs[rsETHAssetIndex]; | ||
expect(rsETHAssetConfig.asset).to.be.equal( | ||
configuratorRsETHAssetConfig.asset | ||
); | ||
expect(rsETHAssetConfig.decimals).to.be.equal( | ||
configuratorRsETHAssetConfig.decimals | ||
); | ||
expect(rsETHAssetConfig.borrowCollateralFactor).to.be.equal( | ||
configuratorRsETHAssetConfig.borrowCollateralFactor | ||
); | ||
expect(rsETHAssetConfig.liquidateCollateralFactor).to.be.equal( | ||
configuratorRsETHAssetConfig.liquidateCollateralFactor | ||
); | ||
expect(rsETHAssetConfig.liquidationFactor).to.be.equal( | ||
configuratorRsETHAssetConfig.liquidationFactor | ||
); | ||
expect(rsETHAssetConfig.supplyCap).to.be.equal( | ||
configuratorRsETHAssetConfig.supplyCap | ||
); | ||
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// 2. Check new Annual Supply Interest Rate Slope High | ||
expect(exp(1, 18) / BigInt(31_536_000)).to.be.equal(await comet.supplyPerSecondInterestRateSlopeHigh()); | ||
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// 3. Check new Annual Borrow Interest Rate Slope High | ||
expect(exp(1.15, 18) / BigInt(31_536_000)).to.be.equal(await comet.borrowPerSecondInterestRateSlopeHigh()); | ||
}, | ||
}); |
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