TrueUSD Listing Proposal [Stay tuned]

Proposals
4

TrueUSD contract simulation progress update

Hello, everyone from the Compound community. After the last time we posted the proposal on Compound forum, we have been diligently preparing the contract and we consider it a good time to update progress.

Simulation summary
The execution of the proposal and the TUSD market were simulated using ganache-cli with Alchemyapi for archived data. The contract forked at block height 12269785.

Contracts details
cTUSD: 0x12392f67bdf24fae0af363c24ac620a2f67dad86
New oracle address: 0x4007b71e01424b2314c020fb0344b03a7c499e1a
Governance: 0xc0da02939e1441f497fd74f78ce7decb17b66529
Comptroller: 0x3d9819210a31b4961b30ef54be2aed79b9c9cd3b

Proposal execution
In the simulation process, the proposal could be successfully activated, voted, queued and executed.
The simulation process includes call the propose function in the governance contract and use bytecode below for transaction:
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

New TUSD markets test

  • New oracle is set up correctly with the address
    0x4007b71e01424b2314c020fb0344b03a7c499e1a
  • New market for TUSD is set up correctly
    Call markets(0x12392f67bdf24fae0af363c24ac620a2f67dad86) get:
    0000000000000000000000000000000000000000000000000000000000000001
    0000000000000000000000000000000000000000000000000000000000000000
    0000000000000000000000000000000000000000000000000000000000000000

It indicates that the TUSD market is approved, while it can’t be used as a collateral asset and receive COMP rewards.

  • ReserveFactor
    Call reserveFactorMantissa() and get：000000000000000000000000000000000000000000000000010a741a46278000 (75000000000000000) as the value

New TUSD market is also simulated for supply and borrow scenarios, with an account supplied COMP and borrowed TUSD from the cTUSD contract.

The testing includes:

  1. COMP price (489655000) is successfully read from the new oracle contract when calculating the collateral value.
  2. TUSD can’t be borrowed when its total asset value exceeds 60% of the COMP value. TUSD could be borrowed when the asset value is lower than the amount.
  3. During the getAccountLiquidity function test, the value changed to liquidatable when the simulation time passed.

Since the proposal has been created and been successfully simulated, we are now ready to activate and launch the 「Add TrueUSD Support」proposal.

We are happy to hear your voice regarding this proposal. Also, we strongly need your support to help us get listed on Compound!

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