Add weETH as collateral to WETH market on Base (#910)

Co-authored-by: GitHub Actions Bot <>

deployments/base/weth/migrations/1723638164_add_weeth_as_collateral.ts

@@ -0,0 +1,149 @@
+import { expect } from 'chai';
+import { DeploymentManager } from '../../../../plugins/deployment_manager/DeploymentManager';
+import { migration } from '../../../../plugins/deployment_manager/Migration';
+import { calldata, exp, proposal } from '../../../../src/deploy';
+import { utils } from 'ethers';
+
+const WEETH_ADDRESS = '0x04C0599Ae5A44757c0af6F9eC3b93da8976c150A';
+const WEETH_STETH_PRICE_FEED_ADDRESS = '0x35e9D7001819Ea3B39Da906aE6b06A62cfe2c181';
+
+let newPriceFeedAddress: string;
+
+export default migration('1723638164_add_weeth_as_collateral', {
+  async prepare(deploymentManager: DeploymentManager) {
+    const _weETHPriceFeed = await deploymentManager.deploy(
+      'weETH:priceFeed',
+      'pricefeeds/ScalingPriceFeed.sol',
+      [
+        WEETH_STETH_PRICE_FEED_ADDRESS, // weETH / ETH price feed
+        8                               // decimals
+      ]
+    );
+    return { weETHPriceFeedAddress: _weETHPriceFeed.address };
+  },
+
+  enact: async (
+    deploymentManager: DeploymentManager,
+    govDeploymentManager: DeploymentManager,
+    { weETHPriceFeedAddress }
+  ) => {
+    const trace = deploymentManager.tracer();
+
+    const weETH = await deploymentManager.existing(
+      'weETH',
+      WEETH_ADDRESS,
+      'base',
+      'contracts/ERC20.sol:ERC20'
+    );
+    const weETHPricefeed = await deploymentManager.existing(
+      'weETH:priceFeed',
+      weETHPriceFeedAddress,
+      'base'
+    );
+
+    const {
+      bridgeReceiver,
+      comet,
+      cometAdmin,
+      configurator,
+    } = await deploymentManager.getContracts();
+
+    const { governor, baseL1CrossDomainMessenger } = await govDeploymentManager.getContracts();
+
+    const newAssetConfig = {
+      asset: weETH.address,
+      priceFeed: weETHPricefeed.address,
+      decimals: await weETH.decimals(),
+      borrowCollateralFactor: exp(0.90, 18),
+      liquidateCollateralFactor: exp(0.93, 18),
+      liquidationFactor: exp(0.96, 18),
+      supplyCap: exp(2100, 18),
+    };
+
+    newPriceFeedAddress = weETHPricefeed.address;
+
+    const addAssetCalldata = await calldata(
+      configurator.populateTransaction.addAsset(comet.address, newAssetConfig)
+    );
+    const deployAndUpgradeToCalldata = utils.defaultAbiCoder.encode(
+      ['address', 'address'],
+      [configurator.address, comet.address]
+    );
+
+    const l2ProposalData = utils.defaultAbiCoder.encode(
+      ['address[]', 'uint256[]', 'string[]', 'bytes[]'],
+      [
+        [configurator.address, cometAdmin.address],
+        [0, 0],
+        [
+          'addAsset(address,(address,address,uint8,uint64,uint64,uint64,uint128))',
+          'deployAndUpgradeTo(address,address)',
+        ],
+        [addAssetCalldata, deployAndUpgradeToCalldata],
+      ]
+    );
+
+    const mainnetActions = [
+      // Send the proposal to the L2 bridge
+      {
+        contract: baseL1CrossDomainMessenger,
+        signature: 'sendMessage(address,bytes,uint32)',
+        args: [bridgeReceiver.address, l2ProposalData, 3_000_000]
+      },
+    ];
+
+    const description = '# Add weETH as collateral into cWETHv3 on Base\n\n## Proposal summary\n\nCompound Growth Program [AlphaGrowth] proposes to add weETH into cWETHv3 on Base network. This proposal takes the governance steps recommended and necessary to update a Compound III WETH market on Base. Simulations have confirmed the market’s readiness, as much as possible, using the [Comet scenario suite](https://github.com/compound-finance/comet/tree/main/scenario). The new parameters include setting the risk parameters based off of the [recommendations from Gauntlet](https://www.comp.xyz/t/add-weeth-as-collateral-to-eth-markets-on-optimism-and-base/5520/3).\n\nFurther detailed information can be found on the corresponding [proposal pull request](https://github.com/compound-finance/comet/pull/910) and [forum discussion](https://www.comp.xyz/t/add-weeth-as-collateral-to-eth-markets-on-optimism-and-base/5520).\n\n\n## Proposal Actions\n\nThe first proposal action adds weETH to the WETH Comet on Base. This sends the encoded `addAsset` and `deployAndUpgradeTo` calls across the bridge to the governance receiver on Base.';
+    const txn = await govDeploymentManager.retry(async () =>
+      trace(
+        await governor.propose(...(await proposal(mainnetActions, description)))
+      )
+    );
+
+    const event = txn.events.find(
+      (event) => event.event === 'ProposalCreated'
+    );
+    const [proposalId] = event.args;
+    trace(`Created proposal ${proposalId}.`);
+  },
+
+  async enacted(deploymentManager: DeploymentManager): Promise<boolean> {
+    return true;
+  },
+
+  async verify(deploymentManager: DeploymentManager) {
+    const { comet, configurator } = await deploymentManager.getContracts();
+
+    const weETHAssetIndex = Number(await comet.numAssets()) - 1;
+
+    const weETHAssetConfig = {
+      asset: WEETH_ADDRESS,
+      priceFeed: newPriceFeedAddress,
+      decimals: 18,
+      borrowCollateralFactor: exp(0.90, 18),
+      liquidateCollateralFactor: exp(0.93, 18),
+      liquidationFactor: exp(0.96, 18),
+      supplyCap: exp(2100, 18),
+    };
+
+    // 1. Compare proposed asset config with Comet asset info
+    const weETHAssetInfo = await comet.getAssetInfoByAddress(WEETH_ADDRESS);
+    expect(weETHAssetIndex).to.be.equal(weETHAssetInfo.offset);
+    expect(weETHAssetConfig.asset).to.be.equal(weETHAssetInfo.asset);
+    expect(weETHAssetConfig.priceFeed).to.be.equal(weETHAssetInfo.priceFeed);
+    expect(exp(1, weETHAssetConfig.decimals)).to.be.equal(weETHAssetInfo.scale);
+    expect(weETHAssetConfig.borrowCollateralFactor).to.be.equal(weETHAssetInfo.borrowCollateralFactor);
+    expect(weETHAssetConfig.liquidateCollateralFactor).to.be.equal(weETHAssetInfo.liquidateCollateralFactor);
+    expect(weETHAssetConfig.liquidationFactor).to.be.equal(weETHAssetInfo.liquidationFactor);
+    expect(weETHAssetConfig.supplyCap).to.be.equal(weETHAssetInfo.supplyCap);
+
+    // 2. Compare proposed asset config with Configurator asset config
+    const configuratorWeETHAssetConfig = (await configurator.getConfiguration(comet.address)).assetConfigs[weETHAssetIndex];
+    expect(weETHAssetConfig.asset).to.be.equal(configuratorWeETHAssetConfig.asset);
+    expect(weETHAssetConfig.priceFeed).to.be.equal(configuratorWeETHAssetConfig.priceFeed);
+    expect(weETHAssetConfig.decimals).to.be.equal(configuratorWeETHAssetConfig.decimals);
+    expect(weETHAssetConfig.borrowCollateralFactor).to.be.equal(configuratorWeETHAssetConfig.borrowCollateralFactor);
+    expect(weETHAssetConfig.liquidateCollateralFactor).to.be.equal(configuratorWeETHAssetConfig.liquidateCollateralFactor);
+    expect(weETHAssetConfig.liquidationFactor).to.be.equal(configuratorWeETHAssetConfig.liquidationFactor);
+    expect(weETHAssetConfig.supplyCap).to.be.equal(configuratorWeETHAssetConfig.supplyCap);
+  },
+});

deployments/base/weth/relations.ts

@@ -31,7 +31,7 @@ export default {
     }
   },
 
-  TransparentUpgradeableProxy: {
+  OssifiableProxy: {
     artifact: 'contracts/ERC20.sol:ERC20',
     delegates: {
       field: {
@@ -40,7 +40,7 @@ export default {
     }
   },
 
-  OssifiableProxy: {
+  TransparentUpgradeableProxy: {
     artifact: 'contracts/ERC20.sol:ERC20',
     delegates: {
       field: {