Add weETH Market on Ethereum

New Markets
10

Update rsETH and weETH price feeds for WETH market on Mainnet

PR - Update pricefeeds for rsETH and weETH on Mainnet WETH market by MishaShWoof · Pull Request #878 · compound-finance/comet · GitHub

Actions

  1. Run Slither. Fails. :x:. Update pricefeeds for rsETH and weETH on Mainnet WETH market · woof-software/comet@5974cff · GitHub
  2. Forge test. Success.:white_check_mark: Update pricefeeds for rsETH and weETH on Mainnet WETH market · woof-software/comet@5974cff · GitHub
  3. Gas Profiler. Success.:white_check_mark: Update pricefeeds for rsETH and weETH on Mainnet WETH market · woof-software/comet@5974cff · GitHub
  4. Scan. Success. :white_check_mark: Update pricefeeds for rsETH and weETH on Mainnet WETH market · woof-software/comet@5974cff · GitHub
  5. mainnet-weth Scenario. Success.:white_check_mark: Update pricefeeds for rsETH and weETH on Mainnet WETH market · woof-software/comet@5974cff · GitHub
  6. Unit tests. Success.:white_check_mark: Update pricefeeds for rsETH and weETH on Mainnet WETH market · woof-software/comet@5974cff · GitHub
  7. Eslint. Success.:white_check_mark: Update pricefeeds for rsETH and weETH on Mainnet WETH market · woof-software/comet@5974cff · GitHub
  8. Contract linter. Success.:white_check_mark: Update pricefeeds for rsETH and weETH on Mainnet WETH market · woof-software/comet@5974cff · GitHub
  9. Prepare migration. Success.:white_check_mark: Prepare Migration · woof-software/comet@5974cff · GitHub
  10. Enact migration with impersonate. Success.:white_check_mark: Enact Migration · woof-software/comet@5974cff · GitHub

Description we use:

Update rsETH and weETH price feeds in cWETHv3 on Mainnet\n\n

Proposal summary\n\n

This proposal updates existing price feeds for rsETH and weETH collaterals in the WETH market on Mainnet from market rates to exchange rates. If exchange rate oracles are implemented, Gauntlet can recommend more capital efficient parameters as the asset remains insulated from market movements, although this exposes it to tail-end risks. The exchange rate based risk parameters could facilitate higher caps and Liquidation Factors along with more conservative Liquidation Penalties.\n\n

Further detailed information can be found on the corresponding proposal pull request, forum discussion for rsETH and forum discussion for weETH.\n\n\n

Proposal Actions\n\n

The first proposal action updates rsETH price feed from market rate to exchange rate.\n\n

The second proposal action updates weETH price feed from market rate to exchange rate.\n\n

The third action deploys and upgrades Comet to a new version.