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, May 19, 2021
Dennison Bertram - Gas Refuner & Compound Subgraphs (starts at 1:20)
- Dennison gave an update that the smart contract development and documentation of the gas refunder is now complete. The web application for the refunder is also almost complete, which will allow users to create and manage a refunder that reimburses various governance interactions like executing proposals, creating CAPs, voting by sig, etc. Once a user creates a refunder contract they can also add a validating function that will only refund interactions based on certain parameter thresholds. @Amxx also joined the call to share information about Compound Subgraph development. The goal for the project is to have a clear, well-written subgraph on Compound’s Governor Alpha contracts, so that any other projects using the same governance framework can simply fork and use it for their own project. This consistent tooling will also help third-party developers integrate governance information going forward.
Getty Hill - Chainlink Oracle Development (starts at 15:00)
- Getty shared a brief update on the development of the Chainlink Oracle Solution.The final deployments of the Chainlink and Uniswap anchor view contracts will be completed in the next day or two, at which point the Chainlink team will publish the final documentation and Trail of Bits audit report to comp.xyz. Once the community has had a chance to review and discuss the proposed implementation, Getty plans to move forward with a governance proposal.
Patrick Ho - Account Health Notifications (starts at 16:39)
- Patrick gave a presentation on his grants project, which is a notification service for borrowers on Compound. Rather than setting up a username and password, users can simply link their borrowing account to the service, and opt into email/sms notifications on borrowing health, market migrations, or potential exploits. The estimated development timeline is 9 weeks, with grant funding covering the first two months of operations once live. Patrick is looking for the community’s feedback on topics like storing sensitive user information, which variables to track, and how to efficiently make API calls, so reach out to @Patrickhmmmmm on Discord with any suggestions.
Max Wolff - Safety and Gas Patches (starts at 32:20)
- Max discussed a few proposed changes that the Compound Labs team is working on to improve the cToken and Comptroller contracts. The first change allows borrowing positions to be liquidated in markets that have a 0% collateral factor, 100% reserve factor, and paused borrowing, in order to help suppliers remove liquidity from deprecated markets. This process would be gradual and communicated to all users to avoid unwanted liquidations. The other Comptroller change is a minor update to the Claim Comp function, in order to make it more gas efficient. Lastly, Max shared a proposed change to the seize function of the cToken contract that is called during the liquidation process, that allows the protocol to keep 3% of the current 8% liquidation reward, and add it to the reserves of that market. This approach maintains a strong 5% fee incentive for liquidators, while also building up a larger buffer of reserves to reduce the systemic risk of cascading liquidations.