Add Market AERO on Base

Protocol Development
5

OpenZeppelin reviewed Compound proposal #345, which initializes an AERO Comet market on Base with USDC, WETH, wstETH and cbBTC as collateral assets.

We have identified the following low-severity issues:

  • The use of a ScalingPriceFeed for the base asset AERO, as well as the collateral assets USDC, WETH, and cbBTC, is unnecessary. The underlying price feeds are already in 8 decimal places, and using the ScalingPriceFeed would result in increased gas costs.

  • The price feed for the wstETH collateral combines a wstETH to stETH price feed with a ETH to USD price feed to price wstETH in USD assuming a 1:1 exchange rate between stETH and ETH. While the use of exchange rates for LSTs has been discussed and approved in a snapshot vote, the proposal, forum post, snapshot vote, and parameter recommendations discussion do not disclose the assumption or justify its risks explictly. The proposed price feed configuration is inconsistent with other Comet markets using wstETH as collateral, such as the Mainnet USDC Comet, which use an underlying stETH to ETH price feed.

  • The market will be empty upon initialization as it is not seeded. While this does not pose an immediate security risk, the market should be funded at initialization.