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

## Simple Summary

A proposal from Gauntlet to adjust two COMP reward distributions in the Arbitrum USDC native comet.

Gauntlet recommends the following change to Arbitrum USDC rewards:

- Increase **Daily COMP USDC Supply Rewards** from 10 to **20**.
- Increase **Daily COMP USDC Borrow Rewards** from 0 to **20**.

For more details, see the full forum post [here]( https://www.comp.xyz/t/gauntlet-arbitrum-v3-usdc-reward-recommendations-2023-09-14/4673 ).

## Motivation

Increasing the daily COMP supply and borrow rewards from to 20 aims to incentivize growth in the recently launched Arbitrum USDC native comet.  The specific distributions allow for an equilibrium USDC utilization to be reached given the current collateral asset supply caps.

[Full proposal and forum discussion](https://www.comp.xyz/t/gauntlet-arbitrum-v3-usdc-reward-recommendations-2023-09-14/4673)

## Specification

The proposal updates the COMP supply rewards on the Arbitrum USDC Native Comet using the `setBaseTrackingSupplySpeed` method of the Arbitrum 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.*

[Gauntlet] Arbitrum v3 USDC Reward Recommendations (2023-09-18)

Grant 46970.000 COMP to [Timelock](https://etherscan.io/address/0x6d903f6003cca6255d85cca4d3b5e5146dc33925)

Transfer 14091.00 [COMP](https://etherscan.io/address/0xc00e94cb662c3520282e6f5717214004a7f26888) to 0x7667095Caa12b79fCa489ff6E2198Ca01fDAe057

[COMP](https://etherscan.io/address/0xc00e94cb662c3520282e6f5717214004a7f26888).approve("0xCD18eAa163733Da39c232722cBC4E8940b1D8888", 32879001042586224154195)

0xCD18eAa163733Da39c232722cBC4E8940b1D8888.createStream("0xD20c9667bf0047F313228F9fE11F8b9F8Dc29bBa", 32879001042586224154195, "[COMP](https://etherscan.io/address/0xc00e94cb662c3520282e6f5717214004a7f26888)", 1695798000, 1727334001)

## Background

Since 2021, Gauntlet has worked with Compound to maximize the protocol’s capital efficiency given an acceptable level of market risk.

Full details of the proposal can be found [here](https://www.comp.xyz/t/gauntlet-compound-renewal-2023/4638).

## Proposal

A proposal to renew Gauntlet’s 12-month engagement with Compound on continuous market risk management to maximize capital efficiency while minimizing the risk of insolvency and liquidations to create long-term sustainable growth. Gauntlet renewed its partnership with Compound last year in September, which runs through September 27, 2023.

Gauntlet’s Risk Management platform quantifies risk, optimizes risk parameters, runs economic stress tests, and calibrates parameters dynamically. Gauntlet uses agent-based simulation models tuned to actual market data to model tail market events and interactions between different users within DeFi protocols. Compared to Gauntlet’s [2022 engagement](https://www.comp.xyz/t/gauntlet-compound-renewal/3541), the proposed 2023 renewal has broader coverage of 15 comet deployments and a simpler, more predictable fixed fee structure that is aligned with Compound’s multi-chain vision.

The service fee structure will be a fixed annual fee of $2,000,000, completely in COMP tokens. Using COMP token’s 30-day VWAP price as of EOD Sep 12, which is $42.58, the total COMP token amount for the fixed fee will be 46,970 COMP tokens. 30% (14,091 COMP tokens) will be sent as a lump sum to the insolvency refund vault (0x7667095Caa12b79fCa489ff6E2198Ca01fDAe057), and 70% (32,879 COMP tokens) will be streamed linearly over the course of the year, with the start date of Sep 27, to Gauntlet's address (0xD20c9667bf0047F313228F9fE11F8b9F8Dc29bBa).

In order to facilitate these payments, we transfer 46,970 COMP to the timelock using the `_grantComp` method on the `Comptroller`.

To increase its alignment with Compound, Gauntlet will refund a portion of the payment should Gauntlet's risk parameter optimizations incur losses for the protocol during the engagement. For more details, see the full [proposal](https://www.comp.xyz/t/gauntlet-compound-renewal-2023/4638).

*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 Renewal 2023

Set reserve factor for [cUSDC](https://etherscan.io/address/0x39aa39c021dfbae8fac545936693ac917d5e7563) to 30.0%

Set compSpeed of [cUSDC](https://etherscan.io/address/0x39aa39c021dfbae8fac545936693ac917d5e7563) to 0.000 COMP/block (supply) and 0.000 COMP/block (borrow)

[Configurator](https://etherscan.io/address/0x316f9708bb98af7da9c68c1c3b5e79039cd336e3).setBaseTrackingSupplySpeed("[cUSDCv3](https://etherscan.io/address/0xc3d688b66703497daa19211eedff47f25384cdc3)", 2979166666666)

[Configurator](https://etherscan.io/address/0x316f9708bb98af7da9c68c1c3b5e79039cd336e3).setBorrowKink("[cUSDCv3](https://etherscan.io/address/0xc3d688b66703497daa19211eedff47f25384cdc3)", 930000000000000000)

[Configurator](https://etherscan.io/address/0x316f9708bb98af7da9c68c1c3b5e79039cd336e3).setBorrowPerYearInterestRateSlopeHigh("[cUSDCv3](https://etherscan.io/address/0xc3d688b66703497daa19211eedff47f25384cdc3)", 1500000000000000000)

[Configurator](https://etherscan.io/address/0x316f9708bb98af7da9c68c1c3b5e79039cd336e3).setSupplyKink("[cUSDCv3](https://etherscan.io/address/0xc3d688b66703497daa19211eedff47f25384cdc3)", 930000000000000000)

[Configurator](https://etherscan.io/address/0x316f9708bb98af7da9c68c1c3b5e79039cd336e3).setSupplyPerYearInterestRateSlopeHigh("[cUSDCv3](https://etherscan.io/address/0xc3d688b66703497daa19211eedff47f25384cdc3)", 1500000000000000000)

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 8 risk parameters, distribution rewards, and IR curve parameters across the v2 and Ethereum v3 USDC protocols for Phase 1 of the Compound v2 Deprecation.

Gauntlet recommends the following changes:

* Increase **v2 USDC Reserve Factor** from 15% to **30%**.
* Decrease **v2 USDC daily COMP supply distribution** from 66.20 to **0**.
* Decrease **v2 USDC daily COMP borrow distribution** from 91.20 to **0**.
* Increase **Ethereum v3 USDC COMP supply distribution** from 100 to **257.40**.
* Decrease **Ethereum v3 USDC Supply Kink** from 95% to **93%**.
* Decrease **Ethereum v3 USDC Borrow Kink** from 95% to **93%**.
* Increase **Ethereum v3 USDC Annual Supply Interest Rate Slope High** from 0.76 to **1.5**.
* Increase **Ethereum v3 USDC Annual Borrow Interest Rate Slope High** from 0.567 to **1.5**.

For more details, see the full forum post [here]( https://www.comp.xyz/t/gauntlet-compound-v2-deprecation-strategy/4596 ).

## Motivation

The community has expressed interest in deprecating the v2 market. Recent Gauntlet recommendations have been aligned with this strategic initiative, with the execution of pausing of supply for v2 tail assets.

Currently there is a [poll](https://www.comp.xyz/t/gauntlet-compound-v2-deprecation-strategy/4596/9) to deteremine whether the community would like to deprecate USDT and/or DAI markets in v2. In the meantime, Gauntlet recommends the proposed v2 USDC deprecation changes in Phase 1 with the following goals in mind:

* Ensure enough borrowable USDC exists in v3 so that v2 users can migrate
* Limit poor UX for v2 users

[Full proposal and forum discussion](https://www.comp.xyz/t/gauntlet-compound-v2-deprecation-strategy/4596)

## Specification

The proposal updates the parameters using:
* The `_setReserveFactor` method of the cUSDC contract.
* The `_setCompSpeeds` method of the Comptroller contract.
* The `setBaseTrackingSupplySpeed` method of the Ethereum v3 USDC Configurator contract.
* The `setBorrowKink` method of the Ethereum v3 USDC Configurator contract.
* The `setSupplyKink` method of the Ethereum v3 USDC Configurator contract.
* The `setSupplyPerYearInterestRateSlopeHigh` method of the Ethereum v3 USDC Configurator contract.
* The `setBorrowPerYearInterestRateSlopeHigh` method of the Ethereum v3 USDC 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.*

[Gauntlet] 2023-09-11: Compound v2 Deprecation (Phase 1)

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

Using stMATIC as a collateral asset has added significant value on other lending platforms like Aave v3 (Polygon) and a popular leveraged staking strategy increasing utilization rates for MATIC. For Compound, stMATIC offers a good collateral option because of its extensive use and composability on Polygon.

 ## stMATIC - Key Reasons to List on Compound

 stMATIC is deeply integrated with DeFI projects such as Aave and Balancer.
 stMATIC TVL has grown to 135M+ MATIC steadily ever since its launch.
 There is 40M+ stMATIC on Polygon that haven't been deployed on DeFi yet, which offers a large TVL opportunity for Compound

 ## Proposed Parameters

 Liquidity - stMATIC currently has a TVL of 135M+ MATIC staked.
 This proposal is to set the parameters for stMATIC as below based on [Gauntlet's  recommendations](https://www.comp.xyz/t/gauntlet-recommendations-stmatic-and-stmatic-listing-on-polygon-compound-v3/4397)
 supplyCap: 8,000,000
 borrowCollateralFactor: 60%
 liquidateCollateralFactor: 65%
 liquidationFactor: 7%
 The proposal is to be made from [this pull request](https://github.com/compound-finance/comet/pull/808/files)

 ## Background - stMATIC

 Lido on Polygon staking solution for Polygon is stMATIC, a liquid staking solution for MATIC. Lido on Polygon lets users earn MATIC staking rewards and also enables users to participate in other Defi protocols using stMATIC while accruing rewards.
 stMATIC is a token that represents your share of the total MATIC pool deposited with Lido on Polygon. As soon as you deposit MATIC on the Lido on Polygon smart contract, you receive newly minted stMATIC, based on the exchange rate at the time of staking. As the MATIC rewards get added the value of stMATIC increases.

 Lido on Polygon for Polygon gives you
 Liquidity through tokenization
 Ease of staking
 stMATIC is the only solution that allows users to natively stake their MATIC on Polygon, allowing users to take advantage of the low transaction fee

 ## stMATIC Security:

 Lido on Polygon protocol contracts are dual audited:

 [Here](https://github.com/lidofinance/polygon-contracts/tree/main/audits) is the link to the Audits
 Lido on Polygon contracts for stMATIC are controlled by a multi-sig account (0xd65Fa54F8DF43064dfd8dDF223A446fc638800A9) managed by (Shardlabs, Lido and Polygon). The Lido on Polygon bug bounty program on [Immunefi](https://immunefi.com/bounty/lidoonpolygon/)

 ## References

 [stMATIC Chainlink Oracle Price Feed](https://polygonscan.com/address/0x97371dF4492605486e23Da797fA68e55Fc38a13f)
 [Polygonscan - stMATIC address](https://polygonscan.com/token/0x3A58a54C066FdC0f2D55FC9C89F0415C92eBf3C4)
 [Forum Discussion](https://www.comp.xyz/t/stmatic-compound-listing/4293)

Add stMATIC as Collateral to USDCv3 Polygon Market

[USDC](https://etherscan.io/address/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48).approve("[CCTPTokenMessenger](https://etherscan.io/address/0xbd3fa81b58ba92a82136038b25adec7066af3155)", 10000000000)

[CCTPTokenMessenger](https://etherscan.io/address/0xbd3fa81b58ba92a82136038b25adec7066af3155).depositForBurn(10000000000, 3, "0x0000000000000000000000009c4ec768c28520b50860ea7a15bd7213a9ff58bf", "[USDC](https://etherscan.io/address/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48)")

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"}],"8453":[{"baseSymbol":"USDbC","cometAddress":"0x9c4ec768c28520B50860ea7a15bd7213a9fF58bf"},{"baseSymbol":"WETH","cometAddress":"0x46e6b214b524310239732D51387075E0e70970bf"}],"42161":[{"baseSymbol":"USDC.e","cometAddress":"0xA5EDBDD9646f8dFF606d7448e414884C7d905dCA"},{"baseSymbol":"USDC","cometAddress":"0x9c4ec768c28520B50860ea7a15bd7213a9fF58bf"}]}**

This proposal takes the governance steps recommended and necessary to initialize a Compound III USDC (native USDC on Arbitrum) 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, this will be the first proposal to mint native USDC on Arbitrum mainnet by burning USDC on mainnet via the `depositAndBurn` function on the Cross-Chain Transfer Protocol (CCTP) provided by Circle, and therefore includes risks not present in previous proposals.

The proposal sets the entire configuration in the Configurator to be the same as the existing bridged USDC.e market. Finally, the parameters include a migration of bridged USDC.e market supply-side COMP incentives to users in the new native USDC market.

Further detailed information can be found on the corresponding [proposal pull request](https://github.com/compound-finance/comet/pull/789) and [forum discussion](https://www.comp.xyz/t/initialize-compound-iii-native-usdc-on-arbitrum/4542).


## Proposal Actions

The first proposal action sets the Comet Factory, Comet configuration and deploys a new Comet implementation on Arbitrum. This sends the encoded `setFactory`, `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 10 COMP/day and borrow speed to be 0 COMP/day. It calls another `setBaseTrackingSupplySpeed` and `setBaseTrackingBorrowSpeed` to set the supply speed and borrow speed of the existing USDC.e market to be 0 COMP/day. Lastly it calls `deployAndUpgradeTo` to deploy an updated Comet implementation for the existing bridged USDC.e market to have the new supply and borrow rewards speed.

The second action approves Circle’s Cross-Chain Transfer Protocol (CCTP)[TokenMessenger](https://etherscan.io/address/0xbd3fa81b58ba92a82136038b25adec7066af3155) to take the Timelock's USDC on Mainnet, in order to seed the market reserves through the CCTP.

The third action deposits and burns 10K USDC from mainnet via `depositForBurn` function on CCTP’s TokenMessenger contract to mint native USDC to Comet on Arbitrum.

The fourth 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 native USDC market and renames the bridged USDC market’s baseSymbol to USDC.e from USDC.

Initialize native USDC market cUSDCv3 on Arbitrum

## Simple Summary

A proposal from Gauntlet to adjust one risk parameter in the Polygon USDC comet.

Gauntlet recommends the following risk parameter change:

* Increase WBTC supply cap from 1k tokens to 1.5k tokens

For more details, see the full forum post [here]( https://www.comp.xyz/t/gauntlet-polygon-usdc-risk-recommendations-8-18-23/4608 ).

## Motivation

Supply cap for WBTC has recently reached 87%. This change will decrease WBTC supply cap utilization from 87% to 58%, resulting in $16.6M additional WBTC able to be supplied, to allow further long-term protocol usage and growth.

[Full proposal and forum discussion](https://www.comp.xyz/t/gauntlet-polygon-usdc-risk-recommendations-8-18-23/4608)

## Specification

This proposal updates supply cap on V3 Polygon USDC market through `updateAssetSupplyCap` in 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.*

[Gauntlet] 2023-08-21: Polygon USDC - Risk Parameter Updates

Set liquidation factor for [cbETH](https://etherscan.io/address/0xbe9895146f7af43049ca1c1ae358b0541ea49704) on [Comet](https://etherscan.io/address/0xa17581a9e3356d9a858b789d68b4d866e593ae94) via [Configurator](https://etherscan.io/address/0x316f9708bb98af7da9c68c1c3b5e79039cd336e3) to 97.5%

Set liquidation factor for [wstETH](https://etherscan.io/address/0x7f39c581f595b53c5cb19bd0b3f8da6c935e2ca0) on [Comet](https://etherscan.io/address/0xa17581a9e3356d9a858b789d68b4d866e593ae94) via [Configurator](https://etherscan.io/address/0x316f9708bb98af7da9c68c1c3b5e79039cd336e3) to 97.5%

[Configurator](https://etherscan.io/address/0x316f9708bb98af7da9c68c1c3b5e79039cd336e3).setBaseTrackingSupplySpeed("[Comet](https://etherscan.io/address/0xa17581a9e3356d9a858b789d68b4d866e593ae94)", 810185185185)

[Configurator](https://etherscan.io/address/0x316f9708bb98af7da9c68c1c3b5e79039cd336e3).setStoreFrontPriceFactor("[Comet](https://etherscan.io/address/0xa17581a9e3356d9a858b789d68b4d866e593ae94)", 1000000000000000000)

[Configurator](https://etherscan.io/address/0x316f9708bb98af7da9c68c1c3b5e79039cd336e3).setBorrowPerYearInterestRateSlopeLow("[Comet](https://etherscan.io/address/0xa17581a9e3356d9a858b789d68b4d866e593ae94)", 37000000000000000)

Deploy and upgrade new implementation for [Comet](https://etherscan.io/address/0xa17581a9e3356d9a858b789d68b4d866e593ae94) via [Configurator](https://etherscan.io/address/0x316f9708bb98af7da9c68c1c3b5e79039cd336e3)

## Simple Summary

A proposal from Gauntlet to adjust 2 asset-specific risk parameters, 1 global risk parameter, 1 Interest Rate curve parameter, and 1 incentive parameter.

Specifically, Gauntlet recommends the following changes:

* Increase storefront price factor from 50% to 100%
* Decrease wstETH liquidation penalty from 5% to 2.5%.
* Decrease cbETH liquidation penalty from 5% to 2.5%.
* Decrease Annual Borrow Interest Rate Slope Low from 0.051 to 0.037.
* Increase COMP daily supply distribution from 38 to 70.

For more details, see the full forum post [here]( https://www.comp.xyz/t/gauntlet-recommendations-ethereum-compound-v3-eth-risk-parameter-ir-curve-incentive-changes-8-4-23/4565 ).

## Motivation

To stimulate growth, Gauntlet proposes updating the IR borrow curve, liquidation bonus, and rewards for the protocol. These adjustments aim to increase capital efficiency and TVL growth, by incentivizing higher utilization and more supply.

[Full proposal and forum discussion](https://www.comp.xyz/t/gauntlet-recommendations-ethereum-compound-v3-eth-risk-parameter-ir-curve-incentive-changes-8-4-23/4565)


## Specification

The proposal uses the `updateAssetLiquidationFactor`, `setBaseTrackingSupplySpeed`, `setStoreFrontPriceFactor`, and `setBorrowPerYearInterestRateSlopeLow` methods of the Ethereum v3 WETH 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.*

[Gauntlet] 2023-08-14: Ethereum WETH - Risk Parameter, IR Curve, & Incentive Updates

Transfer 17436.70 [COMP](https://etherscan.io/address/0xc00e94cb662c3520282e6f5717214004a7f26888) to 0x8524B12CB7710C75B53bAa9ca72B420542d24C13

### **Summary**

After [successfully running CGP 2.0](https://compound.finance/governance/proposals/136) for two quarters and taking into consideration its impact, Questbook proposes to renew [Compound Grants Program 2.0](https://compound.finance/governance/proposals/136) with a budget of $970,000 = 17,436.7 COMP (calculated as per the most recent COMP price at the time of proposal submission: $55.6) spread across 3 domains. Questbook has received great feedback from the community, builders and domain allocators to renew [CGP 2.0](https://www.comp.xyz/t/cgp-2-0-delegated-domain-allocation-by-questbook/3352) and are grateful for their valuable inputs.

For more details, see the full forum discussion here: https://www.comp.xyz/t/cgp-2-0-updates-and-renewal/4518

### **Background and Progress of CGP 2.0**

CGP 2.0 went live in [Jan, 2023](https://twitter.com/compoundgrants/status/1614931948354535426?s=20) with a [grants budget of $800k](https://compound.finance/governance/proposals/136) spread across four domains. Over the past two quarters, CGP 2.0 domain allocators approved proposals requesting ~ [$670,000 in grants](https://www.questbook.app/) and disbursed a total of ~$326,000 to accepted proposals from a pool of 100+ proposals. These domain allocators [were elected from the community and by the community.](https://compound.finance/governance/proposals/136) The specific information regarding the accepted and funded proposals can be found [here](https://www.questbook.app/) . Detailed information related to CGP 2.0’s funding breakdown, relevant metrics, insights, and proposed improvements going forward can be found [here](https://www.comp.xyz/t/cgp-2-0-updates-and-renewal/4518)

### Renewal **Proposal**

Based on the impact and insights derived from CGP 2.0, we propose renewing CGP 2.0 with a budget of $970k for two quarters. The domain allocators will utilize this budget to fund proposals that align with Compound’s roadmap. After researching, gathering feedback from domain allocators, active community members, and builders, we propose supporting the following domains:

![domains](https://i.imgur.com/YuDEz0G.png)

- Given that [Dapps and New Protocol Ideas](https://www.questbook.app/dashboard/?grantId=0xeb047900b28a9f90f3c0e65768b23e7542a65163&chainId=10&role=community&proposalId=0x36a) domain received more than twice the number of proposals compared to all the other domains combined, we propose merging Multi-chain and Cross-chain Strategy domain with the Dev Tooling domain.
- Additionally, we propose increasing the allocated grants budget for Dapps and New Protocol Ideas domain to $450,000 and reducing the grants budget of the [Security Tooling domain](https://www.questbook.app/dashboard/?grantId=0x291d6eb5de3b023ce9b760ef251b303c0c0fd11a&chainId=10&role=community&proposalId=0x33b) to $150,000 taking into consideration the number of proposals and allocated grant amounts for both domains during [CGP 2.0](https://www.questbook.app/) .

### Specifications and Implementation

Similar to the model implemented in [CGP 2.0](https://www.comp.xyz/t/cgp-2-0-delegated-domain-allocation-by-questbook/3352/82), the renewed grants program will be run using **[Delegated Domain Capital Allocation Model](https://blog.questbook.xyz/posts/min-grants-dao-max-community-participation/)**. Each *domain allocator* will run their respective domain on-chain for full transparency using Questbook. The data and performance across key metrics will be visible to the community. Additional details related to specifications and implementation be found [here](https://www.comp.xyz/t/cgp-2-0-updates-and-renewal/4518).

![img](https://questbook.notion.site/image/https%3A%2F%2Fglobal.discourse-cdn.com%2Fstandard17%2Fuploads%2Fcompoundcommunity%2Foptimized%2F2X%2F9%2F93e2b9cf473cd9e1756cc02b59d51c05572baf35_2_690x299.jpeg?table=block&id=8ab8d94c-19b7-4fee-a207-2d5e08dcf2f8&spaceId=a286e6c7-2514-47c8-a776-44b02bb2aa86&width=1380&userId=&cache=v2)

### Compensation

Sourcing, reviewing, funding, marketing, tracking and nurturing proposals requires **significant expertise and time commitment** from the grants committee members and they should be fairly and competitively compensated for their efforts. Based on the learnings from CGP 2.0 specified above, we believe that a Program Manager is expected to dedicate approximately 25 hours per week, while the domain allocator is required to allocate an estimated 15 hours per week. However, these time commitments may vary depending on the number of proposals received for a domain and the domain allocators may exceed or work for less than 15 hours per week based on the proposal volumes. We propose keeping the hourly price the same for the Domain Allocators and the Program Manager as in the case of CGP 2.0

![compensation](https://i.imgur.com/gNxavbs.png)

- Questbook will provide the grants committee its grants orchestration tool free of cost. We suggest that the grants committee continue with [Synapse](https://www.synaps.io/) for KYC services, [Docusign](https://www.docusign.com/en-in) for all contractual agreements, and [BLG](https://twitter.com/BlockchainLG) - Blockchain Lawyers Group for all contractual agreements as we have been using these services throughout CGP 2.0.
- However, for any specific asks from the grants team in order to run the process more smoothly, Questbook will charge for any additional feature requests based on the development overhead through a retrospective grant proposal from Compound at the end of two quarters.

[CGP 2.0 Funding Overview](https://www.notion.so/CGP-2-0-Funding-Overview-1455f8dfb7bc43e585161b7b06481284?pvs=21)

- Considering the funding breakdown and COMP’s price on August 10th, 2023, **~$400,000 will be reserved** from the CGP 2.0 budget’s available funds. This allocation will be utilised to fulfill the milestone payout obligations for accepted proposals and committee compensation for the month of August. Unallocated funds from the [Grants SAFE](https://www.comp.xyz/t/cgp-2-0-delegated-domain-allocation-by-questbook/3352/54?u=harsha) and all domain level SAFE will be returned back to the treasury.
- The unallocated funds from every domain will be returned to the treasury from the renewal budget at the end of 2 quarters

The **KPIs and expectations** of the proposed renewal program along with the **responsibilities of the Domain Allocators and the Program Manager** can be found [here.](https://www.comp.xyz/t/cgp-2-0-updates-and-renewal/4518)

### **About Questbook**

- Questbook (YC-W21) is a decentralized grant orchestration tool, currently being/previously used by Polygon, AAVE, Celo, Solana, TON, Aleph Zero etc.
- Considering the achievements of CGP 2.0, as well as the time commitment and operational expertise necessary for running an effective grants program, Questbook will continue in the role of the Program Manager. [Ruchil](https://twitter.com/roohchill) from Questbook will assume the responsibilities of the Program Manager in place of [@harsha](https://www.comp.xyz/u/harsha) due to bandwidth constraints. Ruchil was the program manager for Polygon facilitating the disbursal of ~ $1M in grants. He works with Solana foundation and ecosystems within Solana on a daily basis to help them design their grants program. He has received a grant of $250K from the Solana foundation for the same. He also worked closely with CGP 2.0 Program Manager and Grants team.

### **Disclaimer**

Questbook has been collaborating with Michigan Blockchain to work through the details of this grant renewal proposal and communicate the merits to the broader Compound community. Michigan Blockchain was not provided consideration as a result of this collaboration as both proposers believe the passing of this proposal is in the best interest of the Compound protocol.

CGP 2.0 Updates and Renewal

Bridge wrapped actions to Base with [BridgeReceiver](https://basescan.org/address/0x18281dfC4d00905DA1aaA6731414EABa843c468A)

Bridge 10.0 ETH over Base to [Timelock](https://basescan.org/address/0xCC3E7c85Bb0EE4f09380e041fee95a0caeDD4a02)

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"}],"8453":[{"baseSymbol":"USDbC","cometAddress":"0x9c4ec768c28520B50860ea7a15bd7213a9fF58bf"},{"baseSymbol":"WETH","cometAddress":"0x46e6b214b524310239732D51387075E0e70970bf"}],"42161":[{"baseSymbol":"USDC","cometAddress":"0xA5EDBDD9646f8dFF606d7448e414884C7d905dCA"}]}**

Set compSpeed of [cUSDC](https://etherscan.io/address/0x39aa39c021dfbae8fac545936693ac917d5e7563) to 0.009 COMP/block (supply) and 0.013 COMP/block (borrow)

This proposal takes the governance steps recommended and necessary to initialize a Compound III WETH market on Base; upon execution, cWETHv3 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 the proposal sets the entire configuration in the Configurator, the initial deployment already has most of these same parameters already set. The new parameters include setting the risk parameters based off of the [recommendations from Gauntlet for Base](https://www.comp.xyz/t/deploy-compound-iii-on-base/4402/2) as well as their [latest recommendations for the WETH market](https://www.comp.xyz/t/gauntlet-recommendations-ethereum-compound-v3-eth-risk-parameter-ir-curve-incentive-changes-8-4-23/4565). Finally, the parameters include a modest reallocation of some of the v2 USDC borrow-side COMP incentives to users in the new market.

Further detailed information can be found on the corresponding [proposal pull request](https://github.com/compound-finance/comet/pull/794) and [forum discussion](https://www.comp.xyz/t/deploy-compound-iii-on-base/4402).


## Proposal Actions

The first proposal action sends a cross-chain message to Base, triggering a series of actions. These actions are to set the CometFactory for the new Comet, set the Comet configuration, deploy a new Comet implementation, set COMP as the reward token for the deployment, wrap some ETH to WETH, and transfer WETH to the cWETHv3 contract as initial reserves. The initial supply speed will be 20 COMP/day and borrow speed will be 0 COMP/day.

The second action bridges 10 ETH from the mainnet Timelock to the Base Timelock, to be wrapped as WETH and seeded as initial reserves to the cWETHv3 market.

The third 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 Base cUSDbCv3 market.

The fourth action reduces the COMP distribution to v2 cUSDC borrowers by 20 COMP/day, so as to keep the total COMP distribution constant.

Initialize cWETHv3 on Base

## Simple Summary

A proposal from Gauntlet to adjust one COMP reward distribution in the Arbitrum USDC comet.

Gauntlet recommends the following change to Arbitrum USDC rewards:

* Decrease daily COMP supply rewards from 34.73 to 10.

For more details, see the full forum post [here]( https://www.comp.xyz/t/gauntlet-arbitrum-usdc-reward-recommendations/4571 ).

## Motivation

Decreasing the daily COMP supply rewards from 34.73 to 10 will result in ~$542k annual savings, in a comet that has low utilization. Compound Labs is working on launching a native USDC comet on Arbitrum, to migrate liquidity from this comet to be deprecated to the new comet.

[Full proposal and forum discussion](https://www.comp.xyz/t/gauntlet-arbitrum-usdc-reward-recommendations/4571)

## Specification

The proposal updates the COMP supply rewards on the Arbitrum USDC Comet using the `setBaseTrackingSupplySpeed` method of the Arbitrum 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.*

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