On June 16, at 9:30am PT, the Compound community will hold its next Developer Community Call. This will be an open discussion forum for individuals and organizations developing protocol improvement proposals or building applications and projects that integrate the protocol.
Below is the high-level agenda for the upcoming call. Note that this call belongs to the community, and as a community member you are empowered to take this call in any direction you think best benefits the community. If you wish, you may help organize it, structure its agenda, lead it, etc.
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Welcome: Adam will provide a brief recap of the previous call.
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Proposal/Project Discussions : The following community members have volunteered to discuss the proposals and projects they are working on or considering working on.
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Getty Hill - ChainLink Price Feed Proposal
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Yaron Velnor - cToken Migration
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Max Wolff - Comptroller Upgrade Proposal
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Dennison Bertram - Gas Refunder Contract
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Open Forum: The community may ask questions of each other, request help/resources, introduce miscellaneous ideas, etc.
If there are any other proposals, projects, or topics you’d like to add to the agenda, please post on this thread or in the Compound Discord. Everyone is welcome to participate and contribute.
Lastly, the call will be audio-recorded; the recording and written notes will be shared in this thread for anyone who can’t make it.
Hope to see you on the call tomorrow!
Thank you to everyone who was able to join the community call today! I’ve posted notes from the call below. You can also listen to a recording of the call here.
Compound Developer Community Call Notes
Wednesday, June 16, 2021
Getty Hill - Chainlink Oracle Development (starts at 1:12)
- Getty provided a brief update that the Chainlink Price Feed proposal is live and in the active voting stage. Community members are encouraged to read more about the proposed price feed on the forum thread, and reach out to Getty with any questions.
Yaron Velner - cToken Migration (starts at 2:40)
- Yaron Velner introduced an idea to migrate cWBTC from the legacy market to the new one, using a seizeAllowed function that takes legacy cWBTC collateral and an enterMarket function that deposits it to the new market on behalf of users. Yaron explained that there is still $100m of WBTC deposits in the legacy market even though it no longer accrues interest or COMP, creating a problem of fractured liquidity between the two WBTC markets. Robert Leshner pointed out that more broadly, this system would more efficiently deprecate legacy markets to completion, instead of leaving small balances in a number of deprecated markets. This would also improve the user experience for migrating from non-upgradable cTokens (ZRX, BAT, ETH) to the new ones, by avoiding the multiple transactions and gas costs associated with the change. You can read more about the migration idea on the accompanying forum post.
Max Wolff - cToken Upgrade Proposal (starts at 11:50)
- Max discussed a cToken upgrade proposal that is currently in the review period of the governance system. This proposed upgrade takes 2.8% of the liquidation discount and transfers it to the cToken reserves, reducing the effective liquidator incentive to the historical baseline of ~5%. Max explained that the increased reverses help protect the protocol against the risk of insolvency due to cascading liquidations. You can read more about the migration idea on the accompanying forum post.
Dennison Bertram - Gas Refunder Contract (starts at 14:50)
- Dennison provided an update that development on Tally’s onchain gas refunder is now finished. The refunder reimburses 95% of gas costs for transactions that don’t require identity, which includes operations like voting/delegating by signature, and executing, queueing, or cancelling proposals. Dennison shared a demo of a refunder example deployed on mainnet, and walked through the different fields for deploying a new contract. Tally is now looking for users who want to implement their first refunder, and plans to speak with the grants committee about funding refunds for users voting on governance proposals. Useful links for learning more and getting started with Tally’s gas refunder are provided here: management app, smart contracts, subgraphs, frontend.
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