Access draft here to provide comments.
Type: Meta Process
Title: Multichain Deployment Process
Description: This social process is mandatory for Compound III deployments on EVM-compatible chains to be officially recognized by Compound Governance.
References: CIP-1: Purpose and Guideline
CIP-XX officially introduces a “Multichain Deployment Process” to recognize a Compound III deployment on EVM-compatible chains. This will provide a clear workflow on the process that they will have to undertake to obtain a “business source license” (BSL) from Compound Governance to make the deployment “official”.
With Compound III (Comet) launch, the Compound protocol can easily be deployed across any EVM-compatible chain. For Compound to maintain its competitive advantage, this process will enable the community to support and recognize Compound deployments on other EVM chains, where transaction fees are much cheaper and TVL is growing.
- Multichain deployment template (Preamble & Specification)
- Point of Contact
- Proposal Summary
- Overview of Proposal
- Grant Application
Type: Multichain Deployment
Point of contact(POC):
This will be the POC through which Compound Community will request further information.
Overview of Proposal:
Description of the proposal, including timeline, team, and benefits to Compound
How does this proposal benefit the Compound ecosystem? Why is the proposed chain ideal for Compound? What solutions does it provide to users?
Did you apply for a Compound Grant? (Approved/ Rejected/ Did not apply)
- TVL on the Chain
- Amount of protocols on the chain
- (#) of unique addresses on the chain
- (#)of new users joining in the past 90 days
- (#) of unique addresses executing a transaction in the past 30,60 and 90 days.
- Average gas fee in the past 30 days
Why did you choose this specific chain? What benefits does it provide over other chains? Do you have support (foundation or grant)? Will any incentives be provided to attract users?
Explain the potential benefits you expect by deploying Compound III on your chain of choice. What TVL do you anticipate?
Discuss the security implications/considerations relevant to deploying on your chain of choice.
- Post a forum post using the multichain deployment template
- TBD will complete a technical evaluation.
- Once an evaluation has been completed, the proposal can go to vote two days later.
- This should take a maximum of 7 days.
- Move to Compound Governor Vote
Compound governance grants usage to the BSL license, which will require changes to “compound-community-licenses.eth,” therefore it should go to a governor vote.
Expanding to other Alt L1s and L2s has been a common discussion in Compound for the past year. With the release of Comet, it is now possible to deploy Compound on EVM-compatible chains. Compound Governance has the power to distribute the BSL license and make a deployment official; therefore, token holders must have sufficient information to distribute this license.
In creating a multi-chain deployment guide, the Compound community should request a level of information that enables token holders to make an informed decision when choosing to deploy Compound III on other chains. The non-technical evaluation provides enough information to gain a superficial understanding of the chain. A technical assessment supplemented by OZ, will provide enough information to make an informed decision.
- This introduces an official process for teams to follow to deploy Compound III on EVM Chains.
- The community agrees on a standard evaluation template
- Reduces discrepancies between applications to deploy Compound III on EVM Chains
- This makes the deployment process longer.
- The amount of information requested might deter applicants.
Overall, the pros outweigh the cons as this introduces a sustainable process to deploy Compound on EVM-compatible chains.
Copyright and related rights waived via CC0
- Implement any changes based on community feedback
- Initiate the CIP lifecycle