0xdd659911…9abcsent to0x683a4f99…6c02·#18,117,392·view on Etherscan
_setReserveFactor(uint256)_setCompSpeeds(address[],uint256[],uint256[])setBaseTrackingSupplySpeed(address,uint64)setBorrowKink(address,uint64)setBorrowPerYearInterestRateSlopeHigh(address,uint64)setSupplyKink(address,uint64)setSupplyPerYearInterestRateSlopeHigh(address,uint64)deployAndUpgradeTo(address,address)# [Gauntlet] 2023-09-11: Compound v2 Deprecation (Phase 1)
## Simple Summary
A proposal from Gauntlet to adjust 8 risk parameters, distribution rewards, and IR curve parameters across the v2 and Ethereum v3 USDC protocols for Phase 1 of the Compound v2 Deprecation.
Gauntlet recommends the following changes:
* Increase **v2 USDC Reserve Factor** from 15% to **30%**.
* Decrease **v2 USDC daily COMP supply distribution** from 66.20 to **0**.
* Decrease **v2 USDC daily COMP borrow distribution** from 91.20 to **0**.
* Increase **Ethereum v3 USDC COMP supply distribution** from 100 to **257.40**.
* Decrease **Ethereum v3 USDC Supply Kink** from 95% to **93%**.
* Decrease **Ethereum v3 USDC Borrow Kink** from 95% to **93%**.
* Increase **Ethereum v3 USDC Annual Supply Interest Rate Slope High** from 0.76 to **1.5**.
* Increase **Ethereum v3 USDC Annual Borrow Interest Rate Slope High** from 0.567 to **1.5**.
For more details, see the full forum post [here]( https://www.comp.xyz/t/gauntlet-compound-v2-deprecation-strategy/4596 ).
## Motivation
The community has expressed interest in deprecating the v2 market. Recent Gauntlet recommendations have been aligned with this strategic initiative, with the execution of pausing of supply for v2 tail assets.
Currently there is a [poll](https://www.comp.xyz/t/gauntlet-compound-v2-deprecation-strategy/4596/9) to deteremine whether the community would like to deprecate USDT and/or DAI markets in v2. In the meantime, Gauntlet recommends the proposed v2 USDC deprecation changes in Phase 1 with the following goals in mind:
* Ensure enough borrowable USDC exists in v3 so that v2 users can migrate
* Limit poor UX for v2 users
[Full proposal and forum discussion](https://www.comp.xyz/t/gauntlet-compound-v2-deprecation-strategy/4596)
## Specification
The proposal updates the parameters using:
* The `_setReserveFactor` method of the cUSDC contract.
* The `_setCompSpeeds` method of the Comptroller contract.
* The `setBaseTrackingSupplySpeed` method of the Ethereum v3 USDC Configurator contract.
* The `setBorrowKink` method of the Ethereum v3 USDC Configurator contract.
* The `setSupplyKink` method of the Ethereum v3 USDC Configurator contract.
* The `setSupplyPerYearInterestRateSlopeHigh` method of the Ethereum v3 USDC Configurator contract.
* The `setBorrowPerYearInterestRateSlopeHigh` method of the Ethereum v3 USDC Configurator contract.
*By approving this proposal, you agree that any services provided by Gauntlet shall be governed by the terms of service available at gauntlet.network/tos.*