Official COMP token(s) on Arbitrum & Optimism

Hi all,

I’m getting excited for the launch of real Layer 2 scaling for Ethereum. Is there any effort to officially bridge COMP to Arbitrum and Optimism (independent of a Starport deploy) to enable low-cost trading of COMP?

Alternately, this could be an early milestone on a Starport L2 deployment as well.

For reference, here is a post detailing the process to get a canonical ERC20 onto Arbitrum:

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Here is the token bridge announcement for Optimism:

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Thanks for flagging this @phosoup!

I’ve reached out to the Arbitrum team to add COMP as a supported asset.

Per Optimism,

At launch, the bridge supports DAI, WBTC, USDT, EURT, ETH, and SNX, with an interface for adding new assets soon to follow.

Which should hopefully allow the community to directly add COMP to Optimism.

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The Optimism community bridge is ready!

It is important for us to get the COMP token onto Optimism so that smaller holders will be able to access and trade the token. DeFi on Ethereum is too expensive for many to participate in, so the migration of the COMP token to Optimistic rollups will be extremely beneficial to smaller investors.

It’d be great to get everyone’s opinions on what functions would be needed for the Layer 2 COMP token before we begin work on a community token deploy.

  1. Would we like an upgradable token?
  2. Does the community feel we need any governance functions on L2?
  3. Are there any other features beyond the standard ERC20 functions that we need?

Everyone can read more here on the technical details of deployment:

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We want to keep in mind there will be a lot of cool things that can be done between L2 and L1 in the future.

Today, the L2 tokens are gonna be more or less placeholder tokens but it could change pretty fast as this transmissions11 post shows:

Would love to know what people think as to upgradability, multisig control, or L2 governance (not necessarily now but what can we come up with?)

The biggest benefit to holders of having COMP on L2 is that it’s going to be making the token relatively scarcer on ethereum and on exchanges, and it’s also making the whole system cheaper and more accessible to small holders of the token. It will also seed the way for being able to lock COMP into our L2 Starports

For reference, here is the LINK token:

And the RGT token:

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Outcomes of developer call on 9/8/2021:

Proposal will be for an upgradable COMP token on Optimism deployed by Compound Governance. Governance will be able to upgrade the token proxy contract on L2 directly.

Initial features for L2 COMP token will be a simple ERC20 function set with mint & burn controlled by the Optimism Gateway and nothing else.

A bit of post-call research has uncovered the following mechanism for passing messages between ETH layer 1 and layer 2 via messenger contracts (one on each layer):
https://community.optimism.io/docs/developers/bridge/messaging.html#l1-⇔-l2-communication-basics

Rough outline of deploy:
Governance proposal
Messenger contract on L1
Messenger contract on L2
Proxy Contract on L2
Token Implementation Contract on L2

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