Skip to content
New issue

Have a question about this project? Sign up for a free GitHub account to open an issue and contact its maintainers and the community.

By clicking “Sign up for GitHub”, you agree to our terms of service and privacy statement. We’ll occasionally send you account related emails.

Already on GitHub? Sign in to your account

Add cbBTC as collateral to WETH market on Mainnet #923

Merged
Show file tree
Hide file tree
Changes from all commits
Commits
File filter

Filter by extension

Filter by extension

Conversations
Failed to load comments.
Loading
Jump to
Jump to file
Failed to load files.
Loading
Diff view
Diff view
Original file line number Diff line number Diff line change
@@ -0,0 +1,128 @@
import { expect } from 'chai';
import { DeploymentManager } from '../../../../plugins/deployment_manager/DeploymentManager';
import { migration } from '../../../../plugins/deployment_manager/Migration';
import { exp, proposal } from '../../../../src/deploy';

const CBBTC_ADDRESS = '0xcbB7C0000aB88B473b1f5aFd9ef808440eed33Bf';
const CBBTC_USD_PRICE_FEED = '0x2665701293fCbEB223D11A08D826563EDcCE423A';
const ETH_USD_PRICE_FEED_ADDRESS = '0x5f4eC3Df9cbd43714FE2740f5E3616155c5b8419';

let priceFeedAddress: string;

export default migration('1726228702_add_cbbtc_as_collateral', {
async prepare(deploymentManager: DeploymentManager) {
const _cbBTCPriceFeed = await deploymentManager.deploy(
'cbBTC:priceFeed',
'pricefeeds/ReverseMultiplicativePriceFeed.sol',
[
CBBTC_USD_PRICE_FEED, // cbBTC / USD price feed
ETH_USD_PRICE_FEED_ADDRESS, // USD / ETH price feed
8, // decimals
'cbBTC / ETH price feed', // description
]
);
return { cbBTCPriceFeedAddress: _cbBTCPriceFeed.address };
},

enact: async (deploymentManager: DeploymentManager, _, { cbBTCPriceFeedAddress }) => {
const trace = deploymentManager.tracer();

const cbBTC = await deploymentManager.existing(
'cbBTC',
CBBTC_ADDRESS,
'mainnet',
'contracts/ERC20.sol:ERC20'
);
const cbBTCPriceFeed = await deploymentManager.existing(
'cbBTC:priceFeed',
cbBTCPriceFeedAddress,
'mainnet'
);
priceFeedAddress = cbBTCPriceFeed.address;
const {
governor,
comet,
cometAdmin,
configurator
} = await deploymentManager.getContracts();

const newAssetConfig = {
asset: cbBTC.address,
priceFeed: cbBTCPriceFeed.address,
decimals: await cbBTC.decimals(),
borrowCollateralFactor: exp(0.8, 18),
liquidateCollateralFactor: exp(0.85, 18),
liquidationFactor: exp(0.95, 18),
supplyCap: exp(93, 8),
};

const mainnetActions = [
// 1. Add cbBTC as asset
{
contract: configurator,
signature: 'addAsset(address,(address,address,uint8,uint64,uint64,uint64,uint128))',
args: [comet.address, newAssetConfig],
},
// 2. Deploy and upgrade to a new version of Comet
{
contract: cometAdmin,
signature: 'deployAndUpgradeTo(address,address)',
args: [configurator.address, comet.address],
},
];

const description = '# Add cbBTC as collateral into cWETHv3 on Ethereum\n\n## Proposal summary\n\nCompound Growth Program [AlphaGrowth] proposes to add cbBTC 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 off of the [recommendations from Gauntlet](https://www.comp.xyz/t/add-collateral-cbbtc-to-weth-market-on-base-and-mainnet/5689/2).\n\nFurther detailed information can be found on the corresponding [proposal pull request](https://github.com/compound-finance/comet/pull/923) and [forum discussion](https://www.comp.xyz/t/add-collateral-cbbtc-to-weth-market-on-base-and-mainnet/5689).\n\n\n## Proposal Actions\n\nThe first proposal action adds cbBTC asset as collateral with corresponding configurations.\n\nThe second action deploys and upgrades Comet to a new version.';
const txn = await deploymentManager.retry(async () =>
trace(
await governor.propose(...(await proposal(mainnetActions, description)))
)
);

const event = txn.events.find(
(event) => event.event === 'ProposalCreated'
);
const [proposalId] = event.args;
trace(`Created proposal ${proposalId}.`);
},

async enacted(): Promise<boolean> {
return false;
},

async verify(deploymentManager: DeploymentManager) {
const { comet, configurator } = await deploymentManager.getContracts();

const cbBTCAssetIndex = Number(await comet.numAssets()) - 1;

const cbBTCAssetConfig = {
asset: CBBTC_ADDRESS,
priceFeed: priceFeedAddress,
decimals: 8,
borrowCollateralFactor: exp(0.8, 18),
liquidateCollateralFactor: exp(0.85, 18),
liquidationFactor: exp(0.95, 18),
supplyCap: exp(93, 8),
};

// 1. Compare proposed asset config with Comet asset info
const cbBTCAssetInfo = await comet.getAssetInfoByAddress(CBBTC_ADDRESS);
expect(cbBTCAssetIndex).to.be.equal(cbBTCAssetInfo.offset);
expect(cbBTCAssetConfig.asset).to.be.equal(cbBTCAssetInfo.asset);
expect(cbBTCAssetConfig.priceFeed).to.be.equal(cbBTCAssetInfo.priceFeed);
expect(exp(1, cbBTCAssetConfig.decimals)).to.be.equal(cbBTCAssetInfo.scale);
expect(cbBTCAssetConfig.borrowCollateralFactor).to.be.equal(cbBTCAssetInfo.borrowCollateralFactor);
expect(cbBTCAssetConfig.liquidateCollateralFactor).to.be.equal(cbBTCAssetInfo.liquidateCollateralFactor);
expect(cbBTCAssetConfig.liquidationFactor).to.be.equal(cbBTCAssetInfo.liquidationFactor);
expect(cbBTCAssetConfig.supplyCap).to.be.equal(cbBTCAssetInfo.supplyCap);

// 2. Compare proposed asset config with Configurator asset config
const configuratorcbBTCAssetConfig = (await configurator.getConfiguration(comet.address)).assetConfigs[cbBTCAssetIndex];
expect(cbBTCAssetConfig.asset).to.be.equal(configuratorcbBTCAssetConfig.asset);
expect(cbBTCAssetConfig.priceFeed).to.be.equal(configuratorcbBTCAssetConfig.priceFeed);
expect(cbBTCAssetConfig.decimals).to.be.equal(configuratorcbBTCAssetConfig.decimals);
expect(cbBTCAssetConfig.borrowCollateralFactor).to.be.equal(configuratorcbBTCAssetConfig.borrowCollateralFactor);
expect(cbBTCAssetConfig.liquidateCollateralFactor).to.be.equal(configuratorcbBTCAssetConfig.liquidateCollateralFactor);
expect(cbBTCAssetConfig.liquidationFactor).to.be.equal(configuratorcbBTCAssetConfig.liquidationFactor);
expect(cbBTCAssetConfig.supplyCap).to.be.equal(configuratorcbBTCAssetConfig.supplyCap);
},
});
6 changes: 6 additions & 0 deletions scenario/constraints/ProposalConstraint.ts
Original file line number Diff line number Diff line change
Expand Up @@ -62,6 +62,12 @@ export class ProposalConstraint<T extends CometContext> implements StaticConstra
);
}

// temporary hack to skip proposal 329
if (proposal.id.eq(329)) {
console.log('Skipping proposal 329');
continue;
}

try {
// Execute the proposal
debug(`${label} Processing pending proposal ${proposal.id}`);
Expand Down