Delegate Address: 0x070341aA5Ed571f0FB2c4a5641409B1A46b4961b
External Website: http://pennblockchain.com/
Here, we’ll start a running thread where we voice our opinions regarding our decisions to different proposals on the forums. We also encourage the other university groups involved with compound governance (@ucla, @blockchaincolumbia, @madhavvats(ChicagoDAO), Blockchain at Michigan, etc.) to create a delegate platform as well.
For Background, hello everyone! We’re Penn Blockchain (@PennBlockchain on twitter), a leading, completely student run blockchain DAO from The University of Pennsylvania for both our undergraduate and graduate schools. The club currently has over 100 members and we’re expecting many more each semester!
Penn Blockchain has committees covering Governance, Research, Education, Business Development, and Development/Web3. On the governance side of things, our team has different members leading governance initiatives for different protocols we have delegations for. Other current Penn Blockchain delegations include Maker, Aave, Uniswap, DyDx, Optimism, etc.
Each week, governance leads will share updates with the club about new proposals and we will all debate about what to do before voting with our wallet. Our internal voting process takes place on the weekends and is an equal weighted democratic process. Proposals that will expire before the weekend are debated on our internal messaging platforms with a majority vote being our overall end vote.
We look forward to staying active within Compound and thank the community for their hard work!
Return Accidentally Sent Funds #3
We voted FOR: Following the precedent set in #2 and rules outlined in #1, we vote to return these accidentally sent funds with the penalty.
End Getty’s Contributor Grant
We voted FOR: Why work for Compound when you can create a Compound? In all seriousness, we appreciate @getty’s contributions and thank him for his valuable work during the early days. We wish you the best of luck with Interest Protocol
Enable Sending ETH from Timelock (Revised)
We voted FOR: Interesting quirk with the Governor that we were not aware of. Glad this functionality was added in and we thank @arr00 for his contribution and well deserved COMP bounty.
FYI: @compoundteam, if there’s any other quirks that need a-fixing, we’d love to take a crack at it!
Initialize Compound III (USDC on Ethereum)
We voted FOR: We’re excited for Compound v3 to come live and this was an easy no brainer. We want to congratulate the team for their hard work and also look forward to what this next version will bring!
Compound Oracle Upgrade v3
We voted FOR: Crucial to update the protocol’s oracle contract to v3 as well, switching the anchor market from UNI v2 to v3.
cETH Risk Mitigation
We voted FOR: Our reasoning is very similar to our reasoning for Aave pausing ETH borrows. The extra revenue generated from a couple days of high ETH borrows we fee is not worth the inherent risks around the uncertainty of the initial post merge defi landscape.
Risk Parameter Changes for FEI
We voted FOR: Our hearts go out to eh FEI/Tribe team and hope they can peacefully wind down. There is no need for FEI on Compound anymore.
Initialize Compound III COMP Distribution
We voted FOR: As the emphasize revolves to Compound III, we believe this incentive shift is a good move in reaching that goal.
We have officially rebranded our Compound governance as FranklinDAO!
Everything will stay the same, just in the spirit of Web3, our outward facing name is now FranklinDAO!
PS: If a community admin can change our name to “FranklinDAO (UPenn) Delegate Platform” that would be very appreciated!
Gauntlet <> Compound Renewal
We voted For: This was an overwhelming yes! We have seen the great work the team has done for Compound and think it should be continued for the following year. The analysis speaks for itself and after a nice talk with the team, we’re looking forward to their updated risk dashboard and new features in the future!
Increase Compound III Supply Caps
We voted For: We think Compound III is ready to increase supply caps following the Gauntlet proposal. We look forward to the continuous growth of v3!
Risk Parameter Changes for FEI: Part 2
We voted For: In favor of the necessary steps needed to wind down FEI markets as the project unwinds.
Adjust cCOMP and cUNI Parameters
We voted For: Pending the analysis put forward by Monet and forum post/discussion, we believe the adjusted parameters are sufficient and should be inplemented.
Pause Supply for Compound Assets
We voted YAE: Voting yes as a safety precaution in light of recent news regarding price manipulation possibilities. Will reassess to increase and adjust parameters in the future, but feel right now these more conservative estimates are safer.
Liquidation Event Handling And Collateral Reserves
We voted FOR: Thanks for the team for catching this minor “error.” This update will make analytics and etherscan view for liquidations easier to manage and see!
Risk Parameter Updates for 1 Collateral Asset
We voted FOR: Voting in line with our prior reasoning across Compound and Aave regarding adapting collateral factors to ensure safety and liquidation risks.
CIP-1: Compound Improvement Proposal Adoption
We voted YES: We’re happy to see the adoption of CIPs! Having been Maker and Aave delegates for a while now, this "x"IP structure is great for access and clarity and we’re excited to see what proposals come to be!
Borrow Caps for Compound V2 Assets
We voted YES: After reviewing the discussions between Paul from Morpho and the Gauntlet team, we are glad to see only the most volatile assets in this formal proposal, and are in agreement that these borrow caps should be changed accordingly. When it comes to an eventual proposal for the stable assets with a lot more on chain liquidity, we think maybe a compromise between the two parties is appropriate, or a slight increase in the caps recommended on the forum post.
Note: Ethereum Transaction Hash (Txhash) Details | Etherscan
We submitted with about 2 minutes left, and high gas, but looks like on chain transaction failed. Might be a bug or UI issue where the voting technically ended before the UI showed it ended.
CGP 2.0 by Questbook
We voted YES: Looking forward to see the startup of the new grants program. We believe season 1.0 went pretty well and are excited to see the newly improved version. Also would love to get more involved and possible take on a research grant ourselves in the future!
Risk Parameter Updates for 1 Collateral Asset on the Comet USDC Market
We voted FOR: We are in favor of this Gauntlet proposal to increase the supply cap of COMP on the USDC market to increase to 900,000 as we trust their models’ judgements and think this is a reasonable change.
CGP Hackathon Sponsorships in 2023
We voted YES: We think these hackathon sponsorships are appropriate and look forward to seeing what projects arise from the tracks!
Initialize cUSDCv3 on Polygon
We voted FOR: We’re excited to see this first cross chain deployment of Compound III and look forward to seeing the eventual deployments across other chains as well! This deployment will bring millions and millions of more TVL and liquidity to Compound and we’re excited to see Compound go crosschain!