Legacy market migration plan to begin with WBTC and continue with BAT, ZRX, USDC, and finally ETH.
- Old version of cToken contracts as mentioned above, are all immutable the governance cannot implement new features into them.
Some of the features that are available and are under developement like:
- sweepToken ( recover accidentally sent tokens )
- supplyCap ( risk management )
- protocol liquidation fee into reserves ( portion of the liquidation incentive could go into reserves )
The proposal will add a duplicated cWBTC market using the latest upgradeable cToken contract and implementation, which inherits the same propertys as the current cWBTC market.
- 65% Collateral Factor
- 20% Reserve Factor
- modern interest rate model ( see below )
- COMP distribution will be moved to the new cWBTC market, this incentivize the users to migrate into the new market.
- No changes needed, the current oracle already knows the underlying address of cWBTC
Deployed and verified contracts for the proposal:
The new interestratemodel have the following parameters:
- kink at 80% utilization
- 2% base rate
- 20% rate at 80% utilization
- 40% rate at 100% utilization
CErc20Delegator was re-deployed with correct initialexchangerate parameter