Just a quick question. Since I don’t see adresses duplicate at 65 and 70 CF, i assume assets for liquidation at 65 CF do not include assets going for liquidation at 70 CF? So basically if CF is set to 65, then we going to put 4 729 790 + 9 821 799 for liquidation?
I still believe decreasing CF in steps is more responsible action: lowering it to 70 first with second followup proposal lowering it to 65 going next would be a better approach.
If timing is critical, than second proposal could be put to vote before first one finish, giving it 24 to 48 hours delay after first proposal put, to give time for borrowers to adjust their positions after execution of first part to avoid being put for liquidations.
As for everything in general i think it should already be put to vote, as not much remained to discuss here really. I think all main arguments are already being presented. I still not really convinced about liquidity assumptions your model gives. As i look at that massive onchain liquidity for wbtc-eth (Uni 355M + Sushi 729M + 1inch 535M= over 1.5B) and it’s hard to believe that even 100M trading volume = low liquidity. Besides for last 24 hours only uni and sushi created 37M+38M = 75M of WBTC trading volume, so 125M doesn’t look accurate at all. Could all CEX combined generate less trading volume for WBTC than only 2 DEXes alone.
Yet, i believe, lowering CF is still good idea, as WBTC market is huge on Compound, and after all the bull run it would be smart to stay on safe side, and decrease amount of risk users could take on WBTC. So i’m for your proposal, just not quite convinced by the arguments of low liqudity.
However, I’d say better be safe than sorry, so if your model say that we should derisk WBTC market, than we should. Maybe your model is somewhat right, who knows.