From dc4a29eb9fddf2ec709689165811e38b5fcc59e0 Mon Sep 17 00:00:00 2001 From: MishaShWoof Date: Thu, 3 Oct 2024 02:51:16 +0300 Subject: [PATCH] Add cbBTC as collateral to USDC market on Mainnet (#921) Co-authored-by: GitHub Actions Bot <> --- .../1726215532_add_cbbtc_as_collateral.ts | 125 ++++++++++++++++++ 1 file changed, 125 insertions(+) create mode 100644 deployments/mainnet/usdc/migrations/1726215532_add_cbbtc_as_collateral.ts diff --git a/deployments/mainnet/usdc/migrations/1726215532_add_cbbtc_as_collateral.ts b/deployments/mainnet/usdc/migrations/1726215532_add_cbbtc_as_collateral.ts new file mode 100644 index 000000000..0c11923fa --- /dev/null +++ b/deployments/mainnet/usdc/migrations/1726215532_add_cbbtc_as_collateral.ts @@ -0,0 +1,125 @@ +import { expect } from 'chai'; +import { DeploymentManager } from '../../../../plugins/deployment_manager/DeploymentManager'; +import { migration } from '../../../../plugins/deployment_manager/Migration'; +import { exp, proposal } from '../../../../src/deploy'; + +const CBBTC_ADDRESS = '0xcbB7C0000aB88B473b1f5aFd9ef808440eed33Bf'; +const CBBTC_USD_PRICE_FEED = '0x2665701293fCbEB223D11A08D826563EDcCE423A'; + +let priceFeedAddress: string; + +export default migration('1726215532_add_cbbtc_as_collateral', { + async prepare(deploymentManager: DeploymentManager) { + const _cbBTCPriceFeed = await deploymentManager.deploy( + 'cbBTC:priceFeed', + 'pricefeeds/ScalingPriceFeed.sol', + [ + CBBTC_USD_PRICE_FEED, // cbBTC / USD price feed + 8 // decimals + ] + ); + return { cbBTCPriceFeedAddress: _cbBTCPriceFeed.address }; + }, + + enact: async (deploymentManager: DeploymentManager, _, { cbBTCPriceFeedAddress }) => { + const trace = deploymentManager.tracer(); + + const cbBTC = await deploymentManager.existing( + 'cbBTC', + CBBTC_ADDRESS, + 'mainnet', + 'contracts/ERC20.sol:ERC20' + ); + const cbBTCPriceFeed = await deploymentManager.existing( + 'cbBTC:priceFeed', + cbBTCPriceFeedAddress, + 'mainnet' + ); + priceFeedAddress = cbBTCPriceFeed.address; + const { + governor, + comet, + cometAdmin, + configurator + } = await deploymentManager.getContracts(); + + const newAssetConfig = { + asset: cbBTC.address, + priceFeed: cbBTCPriceFeed.address, + decimals: await cbBTC.decimals(), + borrowCollateralFactor: exp(0.8, 18), + liquidateCollateralFactor: exp(0.85, 18), + liquidationFactor: exp(0.95, 18), + supplyCap: exp(93, 8), + }; + + const mainnetActions = [ + // 1. Add cbBTC as asset + { + contract: configurator, + signature: 'addAsset(address,(address,address,uint8,uint64,uint64,uint64,uint128))', + args: [comet.address, newAssetConfig], + }, + // 2. Deploy and upgrade to a new version of Comet + { + contract: cometAdmin, + signature: 'deployAndUpgradeTo(address,address)', + args: [configurator.address, comet.address], + }, + ]; + + const description = '# Add cbBTC as collateral into cUSDCv3 on Ethereum\n\n## Proposal summary\n\nCompound Growth Program [AlphaGrowth] proposes to add cbBTC into cUSDCv3 on Ethereum network. This proposal takes the governance steps recommended and necessary to update a Compound III USDC market on Ethereum. 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-collateral-cbbtc-to-weth-market-on-base-and-mainnet/5689/2).\n\nFurther detailed information can be found on the corresponding [proposal pull request](https://github.com/compound-finance/comet/pull/921) and [forum discussion](https://www.comp.xyz/t/add-collateral-cbbtc-to-weth-market-on-base-and-mainnet/5689).\n\n\n## Proposal Actions\n\nThe first proposal action adds cbBTC asset as collateral with corresponding configurations.\n\nThe second action deploys and upgrades Comet to a new version.'; + const txn = await deploymentManager.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 { + return true; + }, + + async verify(deploymentManager: DeploymentManager) { + const { comet, configurator } = await deploymentManager.getContracts(); + + const cbBTCAssetIndex = Number(await comet.numAssets()) - 1; + + const cbBTCAssetConfig = { + asset: CBBTC_ADDRESS, + priceFeed: priceFeedAddress, + decimals: 8, + borrowCollateralFactor: exp(0.8, 18), + liquidateCollateralFactor: exp(0.85, 18), + liquidationFactor: exp(0.95, 18), + supplyCap: exp(93, 8), + }; + + // 1. Compare proposed asset config with Comet asset info + const cbBTCAssetInfo = await comet.getAssetInfoByAddress(CBBTC_ADDRESS); + expect(cbBTCAssetIndex).to.be.equal(cbBTCAssetInfo.offset); + expect(cbBTCAssetConfig.asset).to.be.equal(cbBTCAssetInfo.asset); + expect(cbBTCAssetConfig.priceFeed).to.be.equal(cbBTCAssetInfo.priceFeed); + expect(exp(1, cbBTCAssetConfig.decimals)).to.be.equal(cbBTCAssetInfo.scale); + expect(cbBTCAssetConfig.borrowCollateralFactor).to.be.equal(cbBTCAssetInfo.borrowCollateralFactor); + expect(cbBTCAssetConfig.liquidateCollateralFactor).to.be.equal(cbBTCAssetInfo.liquidateCollateralFactor); + expect(cbBTCAssetConfig.liquidationFactor).to.be.equal(cbBTCAssetInfo.liquidationFactor); + expect(cbBTCAssetConfig.supplyCap).to.be.equal(cbBTCAssetInfo.supplyCap); + + // 2. Compare proposed asset config with Configurator asset config + const configuratorcbBTCAssetConfig = (await configurator.getConfiguration(comet.address)).assetConfigs[cbBTCAssetIndex]; + expect(cbBTCAssetConfig.asset).to.be.equal(configuratorcbBTCAssetConfig.asset); + expect(cbBTCAssetConfig.priceFeed).to.be.equal(configuratorcbBTCAssetConfig.priceFeed); + expect(cbBTCAssetConfig.decimals).to.be.equal(configuratorcbBTCAssetConfig.decimals); + expect(cbBTCAssetConfig.borrowCollateralFactor).to.be.equal(configuratorcbBTCAssetConfig.borrowCollateralFactor); + expect(cbBTCAssetConfig.liquidateCollateralFactor).to.be.equal(configuratorcbBTCAssetConfig.liquidateCollateralFactor); + expect(cbBTCAssetConfig.liquidationFactor).to.be.equal(configuratorcbBTCAssetConfig.liquidationFactor); + expect(cbBTCAssetConfig.supplyCap).to.be.equal(configuratorcbBTCAssetConfig.supplyCap); + }, +});