Add DAI, USDC and USDT as collaterals to WETH Comets on Mainnet and Arbitrum

The Compound Growth Program would like to propose addition of the following assets as collaterals to ETH Comets on Mainnet and Arbitrum

  • DAI
  • USDC
  • USDT

Motivation

To increase borrowing on ETH markets, we need to give an avenue for borrowing to the large userbase of these stablecoins.

For Mainnet

Asset Circulating Supply Number of Holders Contract
USDT $51 Billion 5.7 M 0xdAC17F958D2ee523a2206206994597C13D831ec7
USDC $25 Billion 2.1 M 0xA0b86991c6218b36c1d19D4a2e9Eb0cE3606eB48
DAI $3.2 Billion 500K 0x6B175474E89094C44Da98b954EedeAC495271d0F

For Arbitrum

Asset Circulating Supply Number of Holders Contract
USDT $2.5Billion ~1 M 0xFd086bC7CD5C481DCC9C85ebE478A1C0b69FCbb9
USDC $1.2 Billion ~690 K 0xaf88d065e77c8cC2239327C5EDb3A432268e5831
DAI $44 M 128K 0xDA10009cBd5D07dd0CeCc66161FC93D7c9000da1

Next Steps

We welcome feedback from the Community.

After receiving risk recommendations from Gauntlet, we aim to start the development process for these collaterals.