Proposal 27: Adding COMP as an asset

@blck and I plan to propose adding COMP as a new asset in the coming days. Please read this thread for previous discussion on the topic.

The cCOMP (Compound Collateral) contract is deployed here and uses the same CCompLikeDelegate implementation contract as cUNI (here).

cCOMP uses a new JumpRateModelV2 interest rate model with the following parameters:

  • 2% APY borrow base rate
  • 20% APY borrow rate at kink
  • Kink at 80% utilization
  • 100% APY borrow rate at 100% utilization

We propose a 20% reserve factor and collateral factor of 60% inline with cUNI. Additionally, we plan to set an initial borrow cap of 50k COMP.

A new PriceFeed is not needed for this new market, as the current price feed already supports COMP. The addition of the new market is simulated in a fork using this notebook (a fork of @jared notebook), ensuring expected behavior.

The following call was used to deploy the cCOMP contract:

npx saddle deploy -n mainnet \
CErc20Delegator \
0xc00e94cb662c3520282e6f5717214004a7f26888 \
0x3d9819210A31b4961b30EF54bE2aeD79B9c9Cd3B \
0xd956188795ca6f4a74092ddca33e0ea4ca3a1395 \
200000000000000000000000000 \
"Compound Collateral" \
"cCOMP" \
8 \
0x6d903f6003cca6255D85CcA4D3B5E5146dC33925 \
0x338f7e5d19d9953b76dd81446b142c2d9fe03482 \
"0x"
6 Likes

The proposal is live here

I’m still not clear, after reading through the discussions, if I can supply COMP I’ve delegated to myself to vote with. Is this possible?

If you supply COMP to cCOMP, it will no longer be delegated to you. In the future, we can enable cCOMP holders to vote what should be done with the market liquidity COMP delegation.

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That makes sense. Do I loose the ability to vote if I claim new COMP via supply/borrow but do not supply it to cCOMP? I would assume no - since my address is whitelisted to vote? I can then use whatever supplied COMP I receive to vote with?

Yes, any COMP deposited to your wallet will count towards your delegation no matter how you get it.