Compound <> Morpho <> Polygon Collaboration

Proposals
35

Gauntlet has published the on-chain proposal here. For additional color, please see the Specification below.

The Polygon team has already transferred 5,400,000 POL tokens to the multisig, which will be used to fund the joint incentive campaigns.

Paperclip Labs has launched a front end for the vaults, and the user interface for supplying and borrowing is intended to be supported on the Compound user interface following community approval.

We appreciate everyone’s feedback across partners, delegates, and service providers to help shape this initiative for the Compound DAO.

Specification

  1. Grant COMP. This call transfers 25,565 COMP from Compound’s Unitroller to Compound’s Timelock on Ethereum mainnet. To calculate the 25,565 amount, we used $58.673 as the 30-day TWAP on 2/24/2025 for the proposal. For $1.5M, this translates to 25565.422 COMP and 25565 rounded to the nearest whole.
  2. Approve Bridge Spend. This call approves the Polygon’s ERC-20 bridge contract to spend the 25,565 COMP tokens from the Ethereum mainnet.
  3. Transfer COMP to Multisig. This call moves the 25,565 COMP tokens from the Ethereum mainnet to the multisig wallet on Polygon. Multisig is 0x82f25d3314Ff32F4E8C9D1608fbAB7fC78559e33. This multisig (which holds the POL tokens) will be used to fund dynamic incentive campaigns using Merkl, which Gauntlet has used in the past. For this Compound initiative, Merkl has agreed to lower their fee to 1.5% of the incentives processed through their technology stack. The multisig is a 3 of 6 multisig with two Gauntlet signers, two representatives of the Compound Working Group who have undertaken KYC with Polygon, and two representatives from Polygon.
  • Gauntlet 1: 0x45d79e456c1a1faa24AdCDCd6EB3Ac2D05B64925
  • Gauntlet 2: 0x1D8e0b8F4CEd9262C9ac0c0870BF8B45D74ad9D9
  • Jun (Compound Working Group): 0x9A73D57BB1fB280C5672A13f655675De25F13b70
  • Abdullah (Compound Working Group): 0x3d0e30031b547737fFCf13c127350159A6C4ce17
  • Polygon 1: 0x54DFA4B635E7eB98515fEBA81d360A3871739277
  • Polygon 2: 0x0A4857fD89ABfB7536a6D0Bd4400EF769E84Ec8b
  1. Accept Ownership of Morpho Vaults. The 4 vaults are USDC, WETH, USDT, and WPOL.

We thank the community for their deliberation and support.

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