[COMP](https://etherscan.io/address/0xc00e94cb662c3520282e6f5717214004a7f26888).approve("0xCD18eAa163733Da39c232722cBC4E8940b1D8888", 7989000253329519278295)

0xCD18eAa163733Da39c232722cBC4E8940b1D8888.createStream("0xD20c9667bf0047F313228F9fE11F8b9F8Dc29bBa", 7989000253329519278295, "[COMP](https://etherscan.io/address/0xc00e94cb662c3520282e6f5717214004a7f26888)", 1686110400, 1717646401)

## Background

Gauntlet first contributed to incentive optimization for Compound in January 2021 through [recalibrating COMP speeds](https://compound.finance/governance/proposals/35). While Gauntlet’s engagement with the DAO primarily touches [risk parameters](https://www.comp.xyz/t/gauntlet-compound-renewal/3541#:~:text=Gauntlet%20will%20not%20look%20to%20manage%20the%20following%20at%20the%20outset%3A%20enabling%20or%20disabling%20a%20currency%20for%20borrowing%2C%20optimizing%20COMP%20emissions), incentive management naturally overlaps. Recent examples of Gauntlet's work with Compound incentives include [Migration](https://compound.finance/governance/proposals/156) and adjusting [Polygon incentives](https://compound.finance/governance/proposals/161).

Full details of the proposal can be found [here](https://www.comp.xyz/t/gauntlet-compound-incentive-optimization/4267).

## Proposal

A proposal to formalize and expand Gauntlet’s existing work with Compound on continuous incentive optimization for Compound’s rewards.

As part of the engagement scope, Gauntlet will provide Compound with a quantitative framework to evaluate the success or failure of incentive optimization. Gauntlet will leverage its Incentive Optimization Platform to provide recommendations adjusting incentives across Compound V2 and Comet markets to drive sustainable, efficient growth.

The service fee structure is a $300K fixed fee, paid in $COMP tokens, as well as a [variable performance fee](https://www.comp.xyz/t/gauntlet-compound-incentive-optimization/4267#:~:text=in%20COMP%20tokens-,Performance%2DBased%20Fee%3A,-10%25%20of%20Improvements). This proposal only implements the $300K fixed fee portion.


[Full proposal and forum discussion](https://www.comp.xyz/t/gauntlet-compound-incentive-optimization/4267)


## Specification

The proposal creates a Sablier stream owned by governance to the beneficiary address `0xD20c9667bf0047F313228F9fE11F8b9F8Dc29bBa` for 7,989 COMP over a 365 day vesting duration as detailed above.

*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.*

Gauntlet <> Compound Incentive Optimization

[Configurator](https://etherscan.io/address/0x316f9708bb98af7da9c68c1c3b5e79039cd336e3).setBorrowKink("[cUSDCv3](https://etherscan.io/address/0xc3d688b66703497daa19211eedff47f25384cdc3)", 900000000000000000)

[Configurator](https://etherscan.io/address/0x316f9708bb98af7da9c68c1c3b5e79039cd336e3).setBorrowPerYearInterestRateBase("[cUSDCv3](https://etherscan.io/address/0xc3d688b66703497daa19211eedff47f25384cdc3)", 10000000000000000)

[Configurator](https://etherscan.io/address/0x316f9708bb98af7da9c68c1c3b5e79039cd336e3).setBorrowPerYearInterestRateSlopeLow("[cUSDCv3](https://etherscan.io/address/0xc3d688b66703497daa19211eedff47f25384cdc3)", 33300000000000000)

[Configurator](https://etherscan.io/address/0x316f9708bb98af7da9c68c1c3b5e79039cd336e3).setBorrowPerYearInterestRateSlopeHigh("[cUSDCv3](https://etherscan.io/address/0xc3d688b66703497daa19211eedff47f25384cdc3)", 0)

[Configurator](https://etherscan.io/address/0x316f9708bb98af7da9c68c1c3b5e79039cd336e3).setSupplyKink("[cUSDCv3](https://etherscan.io/address/0xc3d688b66703497daa19211eedff47f25384cdc3)", 950000000000000000)

[Configurator](https://etherscan.io/address/0x316f9708bb98af7da9c68c1c3b5e79039cd336e3).setSupplyPerYearInterestRateSlopeLow("[cUSDCv3](https://etherscan.io/address/0xc3d688b66703497daa19211eedff47f25384cdc3)", 34000000000000000)

[Configurator](https://etherscan.io/address/0x316f9708bb98af7da9c68c1c3b5e79039cd336e3).setSupplyPerYearInterestRateSlopeHigh("[cUSDCv3](https://etherscan.io/address/0xc3d688b66703497daa19211eedff47f25384cdc3)", 760000000000000000)

Deploy and upgrade new implementation for [cUSDCv3](https://etherscan.io/address/0xc3d688b66703497daa19211eedff47f25384cdc3) via [Configurator](https://etherscan.io/address/0x316f9708bb98af7da9c68c1c3b5e79039cd336e3)

## Simple Summary

A proposal from Gauntlet to adjust 7 IR Curve parameters.

Gauntlet recommends the following changes to the Ethereum v3 USDC IR curve:

* Increase Annual Supply Interest Rate Slope Low from 0.0325 to 0.034
* Increase Supply Kink from 80% to 95%
* Increase Annual Supply Interest Rate Slope High from 0.4 to 0.76
* Decrease Annual Borrow Interest Rate Base from 0.015 to 0.01
* Decrease Annual Borrow Interest Rate Slope Low from 0.035 to 0.0333
* Increase Borrow Kink from 80% to 90%
* Decrease Annual Borrow Interest Rate Slope High from 0.25 to 0

For more details, see the full forum post [here](https://www.comp.xyz/t/ethereum-compound-v3-usdc-gauntlet-ir-curve-recommendations-5-16-23/4307).

## Motivation

The proposed IR curve attempts to drive growth and migration as follows:

* Flatline Borrow APR past the borrow kink
* Adjust borrow/supply kinks & slopes to incentivize efficient and appealing equilibrium APRs

[Full proposal and forum discussion](https://www.comp.xyz/t/ethereum-compound-v3-usdc-gauntlet-ir-curve-recommendations-5-16-23/4307)


## Specification

The proposal implements the above changes on the cUSDCv3 Ethereum Comet using the Configurator.

*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.*

Interest Rate Curve Updates for Ethereum Compound v3 USDC

Bridge wrapped actions to Polygon with [BridgeReceiver](https://polygonscan.com/address/0x18281dfC4d00905DA1aaA6731414EABa843c468A)

## Simple Summary

A proposal from Gauntlet to adjust 3 parameters (supply cap) for 3 Polygon Compound v3 USDC assets, and adjust one COMP rewards distribution.

Gauntlet recommend:

* Increase daily USDC supply COMP rewards from 0 to 34.73 ($1,268/day)
* Increase WBTC supply cap from 400 ($12M) to 1,000 ($30M)
* Increase WETH supply cap from 11k ($22M) to 20k ($40M)
* Increase MATIC supply cap from 10M ($10M) to 20M ($20M)

For more details, see the full forum post [here](https://www.comp.xyz/t/compound-polygon-v3-usdc-gauntlet-recommendations-4-28-23/4260).

Note that asset prices have since decreased, so the true USD values are slightly lower than previously stated.

## Motivation

The high USDC utilization combined with the low TVL in the Polygon comet seems to be dissuading large borrowers from joining the protocol, despite the appealing positive Net Borrow APR. Allocating 34.73 daily supply COMP rewards would immediately incentivize USDC suppliers to join the protocol, thereby making more USDC available to be borrowed, and gaining greater momentum for growth in the comet.

[Full proposal and forum discussion](https://www.comp.xyz/t/compound-polygon-v3-usdc-gauntlet-recommendations-4-28-23/4260)


## Specification

This proposal implements the above changes using Compound V3 cross-chain governance.


*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.*

Risk Parameter Updates for Polygon Compound v3 USDC (5/9/23)

Bridge wrapped actions to Arbitrum with [BridgeReceiver](https://arbiscan.io/address/0x42480C37B249e33aABaf4c22B20235656bd38068)

Approve 10000.0 [USDC](https://etherscan.io/address/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48) tokens to bridge to Arbitrum

Bridge 10000.0 [USDC](https://etherscan.io/address/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48) tokens over Arbitrum to [cUSDCv3](https://arbiscan.io/address/0xA5EDBDD9646f8dFF606d7448e414884C7d905dCA)

Approve 12500.0 [COMP](https://etherscan.io/address/0xc00e94cb662c3520282e6f5717214004a7f26888) tokens to bridge to Arbitrum

Bridge 12500.0 [COMP](https://etherscan.io/address/0xc00e94cb662c3520282e6f5717214004a7f26888) tokens over Arbitrum to [cUSDCv3Rewards](https://arbiscan.io/address/0x88730d254A2f7e6AC8388c3198aFd694bA9f7fae)

Set ENS text record for **v3-additional-grants.compound-community-licenses.eth** with key: **v3-official-markets** and value: **{"1":[{"baseSymbol":"USDC","cometAddress":"0xc3d688B66703497DAA19211EEdff47f25384cdc3"},{"baseSymbol":"WETH","cometAddress":"0xA17581A9E3356d9A858b789D68B4d866e593aE94"}],"137":[{"baseSymbol":"USDC","cometAddress":"0xF25212E676D1F7F89Cd72fFEe66158f541246445"}],"42161":[{"baseSymbol":"USDC","cometAddress":"0xA5EDBDD9646f8dFF606d7448e414884C7d905dCA"}]}**

Set compSpeed of [cUSDT](https://etherscan.io/address/0xf650c3d88d12db855b8bf7d11be6c55a4e07dcc9) to 0.000 COMP/block (supply) and 0.000 COMP/block (borrow)

This proposal takes the governance steps recommended and necessary to initialize a Compound III USDC market on Arbitrum; upon execution, cUSDCv3 will be ready for use. 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). Although real tests have also been run over the Goerli/Arbitrum Goerli bridge, this proposal requires estimating gas costs in advance of executing the bridge proposal, and therefore includes risks not present in previous proposals.

Although the proposal sets the entire configuration in the Configurator, the initial deployment already has most of these same parameters already set. The new parameters are limited to increasing the supply caps of the collateral assets from their initial values of 0. The risk parameters and supply caps are based off of [recommendations from Gauntlet](https://www.comp.xyz/t/deploy-compound-v3-on-arbitrum/4100/15).

Further detailed information can be found on the corresponding [proposal pull request](https://github.com/compound-finance/comet/pull/719) and [forum discussion](https://www.comp.xyz/t/deploy-compound-v3-on-arbitrum/4100).


## Proposal Actions

The first proposal action sets the Comet configuration and deploys a new Comet implementation on Arbitrum. This sends the encoded `setConfiguration` and `deployAndUpgradeTo` calls across the bridge to the governance receiver on Arbitrum. It also calls `setRewardConfig` on the Arbitrum rewards contract, to establish Arbitrum's bridged version of COMP as the reward token for the deployment and set the initial supply speed to be ~34.74 COMP/day.

The second action approves Arbitrum's [L1 Arb-Custom Gateway](https://etherscan.io/address/0xcEe284F754E854890e311e3280b767F80797180d) to take Timelock's USDC, in order to seed the market reserves through the bridge.

The third action bridges USDC from mainnet to the Compound instance on Arbitrum, via Arbitrum's [L1GatewayRouter contract](https://etherscan.io/address/0x72Ce9c846789fdB6fC1f34aC4AD25Dd9ef7031ef).

The fourth action approves Arbitrum's [L1 ERC20 Gateway](https://etherscan.io/address/0xa3A7B6F88361F48403514059F1F16C8E78d60EeC) to take Timelock's COMP, in order to seed the rewards contract through the bridge.

The fifth action transfers COMP from mainnet to the rewards contract on Arbitrum, via Arbitrum's [L1GatewayRouter contract](https://etherscan.io/address/0x72Ce9c846789fdB6fC1f34aC4AD25Dd9ef7031ef).

The sixth action updates the ENS TXT record `v3-official-markets` on `v3-additional-grants.compound-community-licenses.eth`, updating the official markets JSON to include the new Arbitrum cUSDCv3 market.

The seventh action turns off COMP distributions on Compound v2 USDT borrows (~34.74 COMP/day) as they are being shifted to Arbitrum.

Initialize cUSDCv3 on Arbitrum

Approve 12500.0 [COMP](https://etherscan.io/address/0xc00e94cb662c3520282e6f5717214004a7f26888) tokens to bridge to Polygon

Bridge 12500.0 [COMP](https://etherscan.io/address/0xc00e94cb662c3520282e6f5717214004a7f26888) tokens over Polygon to [cUSDCv3Rewards](https://polygonscan.com/address/0x45939657d1CA34A8FA39A924B71D28Fe8431e581)

This is a repost of [Proposal 158](https://compound.finance/governance/proposals/158), given that the proposal failed to reach quorum. More discussions can be found on this [forum thread](https://www.comp.xyz/t/refresh-comp-rewards-on-polygon/4253).

## Explanation

Since the launch of cUSDCv3 on Polygon mainnet a month ago, the market has grown steadily and proven to be in good order. The initial seeding of rewards only provisioned enough for a few months, as a conservative starting point. Now is a good time to renew the COMP rewards going to the market.

This proposal bridges an additional 12,500 COMP to sustain the current rewards speeds of the market for an additional year (approximately).

## Proposal

The proposal itself is to be made from [this pull request](https://github.com/compound-finance/comet/pull/735). 

The first action approves the transfer of COMP by the Polygon bridge contract.

The second action triggers the transfer across the bridge to the rewards contract.

Refresh Polygon COMP

## Explanation

Since the launch of cUSDCv3 on Polygon mainnet a month ago, the market has grown steadily and proven to be in good order. The initial seeding of rewards only provisioned enough for a few months, as a conservative starting point. Now is a good time to renew the COMP rewards going to the market.

This proposal bridges an additional 12,500 COMP to sustain the current rewards speeds of the market for an additional year (approximately).

## Proposal

The proposal itself is to be made from [this pull request](https://github.com/compound-finance/comet/pull/735). 

The first action approves the transfer of COMP by the Polygon bridge contract.

The second action triggers the transfer across the bridge to the rewards contract.

Transfer 23617.05 [COMP](https://etherscan.io/address/0xc00e94cb662c3520282e6f5717214004a7f26888) to 0x57C970568668087c05352456a3F59B58B0330066

## Background
Starting on Dec 21st, 2021, OpenZeppelin was [selected](https://compound.finance/governance/proposals/76) to offer the Compound DAO security services including continuous audit, security advisory, and monitoring. At the start of every quarter, OpenZeppelin creates a proposal to perform the next service fee payment.

## Compensation Structure
We receive our quarterly payments in a lump-sum of COMP. Based on the last week's average price, this would be $42.34 per COMP for a total quarterly payment of 23,617 COMP equaling $1M per the original agreement. This COMP will be transferred from the Timelock's existing balance.
More detail in this [forum post](https://www.comp.xyz/t/openzeppelin-security-updates-for-q1-2023-q2-compensation-proposal/4163). 

By approving this proposal, you agree that any services provided by OpenZeppelin shall be governed by the [Terms of Service available here](https://docs.google.com/document/d/1eDcvirf0bdzpjIkfxQHm7fcV05O1IcLXL-Dl-U52Y4k/edit?usp=sharing)

OpenZeppelin Security Partnership - 2023 Q2 Compensation 

Set compSpeed of [cUSDC](https://etherscan.io/address/0x39aa39c021dfbae8fac545936693ac917d5e7563) to 0.022 COMP/block (supply) and 0.022 COMP/block (borrow). Set compSpeed of [cDAI](https://etherscan.io/address/0x5d3a536e4d6dbd6114cc1ead35777bab948e3643) to 0.022 COMP/block (supply) and 0.022 COMP/block (borrow)

[Configurator](https://etherscan.io/address/0x316f9708bb98af7da9c68c1c3b5e79039cd336e3).setBaseTrackingBorrowSpeed("[cUSDCv3](https://etherscan.io/address/0xc3d688b66703497daa19211eedff47f25384cdc3)", 5571875000000)

### Simple Summary

Gauntlet provides this proposal for Phase 2 of the Compound V2 -> V3 Migration.

### Background

Following community feedback, please see the below Phase 2 plan to align with the community's strategic preference. See the [forum post](https://www.comp.xyz/t/compound-v2-to-v3-migration-phase-2/4165) for more detail.

* Decrease v2 daily USDC supply COMP rewards from 211.20 to 161.20 (-50)
* Decrease v2 daily USDC borrow COMP rewards from 211.20 to 161.20 (-50)
* Decrease v2 daily DAI supply COMP rewards from 211.20 to 161.20 (-50)
* Decrease v2 daily DAI borrow COMP rewards from 211.20 to 161.20 (-50)
* Increase v3 daily USDC borrow COMP rewards from 281.41 to 481.41 (+200)

### Specification

This proposal implements a number of changes using several different contracts:

* v2 daily COMP rewards are updated using `_setCompSpeeds` on the `Comptroller` contract
* v3 USDC daily COMP rewards are updated using `setBaseTrackingBorrowSpeed` on the `Configurator` contract

*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.*

Compound V2 -> V3 Migration (Phase 2)

[COMP](https://etherscan.io/address/0xc00e94cb662c3520282e6f5717214004a7f26888).approve("0xCD18eAa163733Da39c232722cBC4E8940b1D8888", 16722407999999999750400)

0xCD18eAa163733Da39c232722cBC4E8940b1D8888.createStream("0x0F11640BF66e2D9352d9c41434A5C6E597c5e4c8", 16722407999999999750400, "[COMP](https://etherscan.io/address/0xc00e94cb662c3520282e6f5717214004a7f26888)", 1680673189, 1696484389)

We propose to improve the security and agility of the Compound protocol via continuous formal verification in three ways:
(1) By granting access to the Certora Prover to anybody checking the Compound code. This includes accessing the Certora Prover’s source code under NDA.
(2) By allocating a team of 3 Certora security engineers for 12 weeks per annum to review code changes and propose new correctness rules.
(3) By creating a community of security researchers to review code changes and propose new correctness rules.
Every code change and governance proposal will be reviewed by both internal and external teams using the Certora prover to prevent bugs when the code is upgraded.

See the full forum discussion here: https://www.comp.xyz/t/security-and-agility-of-compound-smart-contracts-via-continuous-formal-verification/4007

Certora <> Compound Formal Verification

[Comptroller](https://etherscan.io/address/0x3d9819210a31b4961b30ef54be2aed79b9c9cd3b)._setMintPaused("[cUSDC](https://etherscan.io/address/0x39aa39c021dfbae8fac545936693ac917d5e7563)", false)

As the price of USDC fell through $0.90, cUSDC minting on Compound V2 was paused out of caution by the community multisig. This proposal resumes minting of cUSDC.

Vote By Signature

163

Total Proposals

Recent Proposals

Gauntlet <> Compound Incentive Optimization

Interest Rate Curve Updates for Ethereum Compound v3 USDC

Risk Parameter Updates for Polygon Compound v3 USDC (5/9/23)

Initialize cUSDCv3 on Arbitrum

Refresh Polygon COMP

Refresh Polygon COMP

OpenZeppelin Security Partnership - 2023 Q2 Compensation

Compound V2 -> V3 Migration (Phase 2)

Certora <> Compound Formal Verification

Resume cUSDC minting

Public API