CIP-5: New Chain Checklist

Preamble

Title: New Chain Checklist
Status: Draft
Type: Meta Process
Author: Jared Bass (@jbass-oz), Michael Lewellen (@cylon)
Contributors: Kevin Cheng (@kevin ), Red Swan (red-swan)
Created: 2024-2-6

Abstract

This CIP describes a checklist to prepare to launch Compound V3 to a new EVM chain. This includes a set of quality assurance steps to ensure that the new chain meets the requirements to safely support Compound V3 and to ensure the team deploying it has completed all the prerequisites of preparing to launch. It also ensures that there is ample time for the community to deliberate and reach consensus about the market launch so that the deployment process can proceed through governance with all the available information known well ahead of time.

Motivation

This checklist is used to collect sufficient information for the community to make an informed decision on deploying markets to new EVM chains. In the past, market deployments to new chains (Polygon, Arbitrum, Base) were typically led by Compound Labs with an informal community discussion leading up to its launch. With this checklist, we can kick off a more transparent information gathering process as well as set expectations for new deployments that may be supported by any community members including through CGP grants in the Multi-chain domain.

Proposal Details

Instructions

  • Review CIP-2 Multichain Deployment Process

    • Indicates a required field for the proposer
  • Top level questions give a high-level view of the information being sought. Please answer sub-questions as much as possible and offer any supporting information for the top level question that may not explicitly be requested in a sub-question.

Proposal Author Contact Information*

  1. Comp.xyz username

  2. Compound Discord username

  3. Relationship between the author and the network

  4. Relationship between the author and compound community (For example, a CGP grant)

General Network Information

Please generally describe the network

  1. Network Name*

  2. Chain ID*

  3. Website and/or Documentation URL*

  4. Chainlist.org URL

  5. Description*

Include consensus mechanisms, distinguishing features, and benefits to the Compound Community

  1. Gas Token

  2. TVL over time

Include sources and dates for current and trailing 4 quarters if available.

Please list test network information

  1. Name

  2. Chain ID

  3. Chainlist.org url

  4. Description

  5. Gas Token

  6. Faucet URL

Network Architecture & Decentralization

Please describe the network architecture, components, and their decentralized status

e.g. Include sequencer, prover, operators, etc.

  1. Trusted Entities (validators, sequencer, L1, other)

Which parts of the system are managed by a multi-sig or single key?

  1. Threshold

  2. Key holders

Bridge Architecture & Decentralization

Please describe the architecture, components, and their decentralized status of recommended bridges.

  1. Mechanism (Lock-and-mint, Fraud Proofs, Validity Proofs, Other)

  2. Liquidity (mintable, operator, LPs, other)

  3. Verification (Natively, Externally, Locally, Other)

  4. Native message passing support

EVM Equivalence

Please describe any differences in the computing environment to Ethereum mainnet

  1. Are block times the same?

  2. Are there different transaction types?

  3. Does it include native account abstraction?

  4. What precompiles are removed and added?

  5. What notable EIPs on Ethereum are missing on the chain?

Do all opcodes behave the same?

  1. What opcodes are not included?

  2. What new opcodes are added?

  3. Are gas costs per opcode the same?

Supporting Infrastructure

What tools are available for people to better utilize the network and see its workings? Include URLs wherever possible.

For users

  1. Is there Etherscan support?

  2. Are there public RPCs?

  3. What wallet providers provide support?

For developers

  1. Is there Hardhat support?

  2. Is there Foundry support?

For Pause Guardian

  1. Is the network available on Safe Wallet (app.safe.global)?

Monitoring & Emergency Contingencies

How can users monitor on-chain activity?

  1. Is the Forta network utilizable?

  2. Is OpenZeppelin Defender utilizable?

How can users respond to network emergencies?

  1. Please list the communication details for those to contact in case of network emergency

  2. Does the network offer a way to enforce transactions (i.e., without relying on a coordinator) and/or an escape hatch mechanism?

How does the network mitigate disasters?

  1. Bridge Failure Consequence? (Frozen, self-stake, other)

Risk Assessment

  1. Please link any available audits that have been completed.

  2. Please share the network roadmap (Include recent progress and future plans)

  3. Please share the L2Beat.com url for the network if available

DeFi & Liquidity

What notable assets are on the network?

  1. Are they native or bridged?

  2. What is their TVL?

What notable DEXes are deployed?

  1. What is their TVL?

What Oracle providers are operable?

  1. Where can users assess their health?

  2. Are they pull or push based?

  3. Have they differed in behavior from the counterparts on other chains?

Considerations

  1. Proposals must first be posted in the Compound forum New Markets category.

  2. The on-chain proposal must contain a link to the corresponding forum post.

  3. Do not deploy contracts before submitting the proposal to the forum.

  4. Pause Guardian Multisig should be configured and signers should prove access before deploying contracts.

Community Checks

The community should review the following before approving a new network.

  1. Veracity of provided information.

  2. Correct configuration of any new contracts.

  3. Documentation quality.

Expected Impact

Adopting the proposal is expected to:

  • Set clear expectations for new chain deployments for teams managing deployments

  • Help identify which current EVM chains are appropriate for new Compound markets

  • Streamline and expedite the deployment of Compound to new chains

  • Help identify bottlenecks for new chain deployments that could be targeted for improvement

Security Considerations

By formalizing the requirements for new chain deployments, we intend to set clear expectations for the level of quality and safety of each EVM chain. Chain stoppages, EVM compatibility issues, and bridge disruptions are all serious risks for Compound to consider when deploying to a new environment. By collecting a large amount of information on a new chain upfront, we give ample time for the community and security stakeholders to assess its accuracy and have a high level of assurance that the chain is safe prior to actual deployment.

Copyright

Copyright and related rights waived via CC0.

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We’re looking for additional community feedback on this new chain checklist in its draft form before finalizing. You can also add comments and suggestions to a draft Google document here.

We’ve already shared an advance copy with the teams responsible for the Scroll and Linea market deployments.

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We suggest potential improvements to the existing chain review checklist, based on the experiences of DeFiSafety has on reviewing smart chains. Our suggestions (detailed in the document) are:

  1. Add a summary paragraph of the results at the top of the checklist. Maximum one page of text, frequently one paragraph
  2. Add a DeFiSafety chain review summary section, as discussed below, to the risk assessment section of the CIP-5 checklist.
  3. Add an Access Controls section into the Risk Section
  4. Add a dev responsiveness section into the Risk Section

This improvement document meets the first milestone of our Compound III Security tooling grant.

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