Thanks for keeping an eye and the questions. Here are the answers
Q1. - “Grant the market admin role to an Safe address, which can be maintained by Gauntlet or other community members.” what is this Safe address, and who are the signers right now?
A1. - Gauntlet members will own the market admin safe. All three signers will be from Gauntlet. Currently, DoDAO is one of the signers to oversee the process, but it will be completely transitioned to Gauntlet. If community members express concerns, it might make sense to update the safe to 3/5, and a member each from other contributing teams can be added as a signers.
Q.2. “Market Updates to the Configurator will go through a timelock, providing sufficient time for the community to review or even block the market updates via this alternate route.” What was the proposed timelock time, same as normal governance?
A.2. The current delay is 2 days. It’s configurable, and we can increase it if needed.
Q.3. An update to the community on if anything has changed since this was last discussed over 4 months ago would be nice. Please outline exactly what will happen if the vote is passed, and what governance is deciding on.
A.3. If the vote passes, Gauntlet, using the safe, will be able to update certain parameters on the markets, other than the list of parameters mentioned below. The Community Multisig or the main governance can pause this alternate governance track whenever they want.
List of parameters which Gauntlet can update:
function setSupplyKink(address cometProxy, uint64 newSupplyKink) external governorOrMarketAdmin
function setSupplyPerYearInterestRateSlopeLow(address cometProxy, uint64 newSlope) external governorOrMarketAdmin
function setSupplyPerYearInterestRateSlopeHigh(address cometProxy, uint64 newSlope) external governorOrMarketAdmin
function setSupplyPerYearInterestRateBase(address cometProxy, uint64 newBase) external governorOrMarketAdmin
function setBorrowKink(address cometProxy, uint64 newBorrowKink) external governorOrMarketAdmin
function setBorrowPerYearInterestRateSlopeLow(address cometProxy, uint64 newSlope) external governorOrMarketAdmin
function setBorrowPerYearInterestRateSlopeHigh(address cometProxy, uint64 newSlope) external governorOrMarketAdmin
function setBorrowPerYearInterestRateBase(address cometProxy, uint64 newBase) external governorOrMarketAdmin
function setBaseTrackingSupplySpeed(address cometProxy, uint64 newBaseTrackingSupplySpeed) external governorOrMarketAdmin
function setBaseTrackingBorrowSpeed(address cometProxy, uint64 newBaseTrackingBorrowSpeed) external governorOrMarketAdmin
function setBaseBorrowMin(address cometProxy, uint104 newBaseBorrowMin) external governorOrMarketAdmin
function updateAssetBorrowCollateralFactor(address cometProxy, address asset, uint64 newBorrowCF) external governorOrMarketAdmin
function updateAssetLiquidateCollateralFactor(address cometProxy, address asset, uint64 newLiquidateCF) external governorOrMarketAdmin
function updateAssetLiquidationFactor(address cometProxy, address asset, uint64 newLiquidationFactor) external governorOrMarketAdmin
function updateAssetSupplyCap(address cometProxy, address asset, uint128 newSupplyCap) external governorOrMarketAdmin
Here is the technical docs which outlines all the changes:
Q.4. Additionally, the title says “optimism” but nothing more about that. Is Optimism in reference to Optimistic approvals? or Optimism chain? We assume the chain but are not sure. It seems the discussion above hasn’t been “wrapped up” and ready for a governance vote, hence the lack of communication and then a governance vote out of the blue is concerning and confusing.
A.4. These “Market Updates - Alternate Governance Track” changes will be rolled out to one chain at a time. We are releasing it to Optimism first because there are frequent changes that Gauntlet would want to apply based on the incentives added by Optimism.
Here are the posts of the Audits
@jbass-oz @dmitriywoofsoftware @pauljlei @sharp Please add if anything is missed.