From ddfdf2dfd49176430e6cd89fef666dc3c515249d Mon Sep 17 00:00:00 2001 From: Dmitriy Babenko <159453675+dmitriy-woof-software@users.noreply.github.com> Date: Mon, 7 Oct 2024 14:26:06 -0400 Subject: [PATCH] Add cbBTC as collateral to WETH market on Base (#938) Co-authored-by: Mikhailo Shabodyash Co-authored-by: GitHub Actions Bot <> --- .../1726480777_add_cbbtc_as_collateral.ts | 152 ++++++++++++++++++ 1 file changed, 152 insertions(+) create mode 100644 deployments/base/weth/migrations/1726480777_add_cbbtc_as_collateral.ts diff --git a/deployments/base/weth/migrations/1726480777_add_cbbtc_as_collateral.ts b/deployments/base/weth/migrations/1726480777_add_cbbtc_as_collateral.ts new file mode 100644 index 000000000..d89512145 --- /dev/null +++ b/deployments/base/weth/migrations/1726480777_add_cbbtc_as_collateral.ts @@ -0,0 +1,152 @@ +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 CBBTC_ADDRESS = '0xcbB7C0000aB88B473b1f5aFd9ef808440eed33Bf'; +const CBBTC_USD_PRICE_FEED_ADDRESS = '0x07DA0E54543a844a80ABE69c8A12F22B3aA59f9D'; +const ETH_USD_PRICE_FEED_ADDRESS = '0x71041dddad3595F9CEd3DcCFBe3D1F4b0a16Bb70'; +let newPriceFeedAddress: string; + +export default migration('1726480777_add_cbbtc_as_collateral', { + async prepare(deploymentManager: DeploymentManager) { + const _cbBTCPriceFeed = await deploymentManager.deploy( + 'cbBTC:priceFeed', + 'pricefeeds/ReverseMultiplicativePriceFeed.sol', + [ + CBBTC_USD_PRICE_FEED_ADDRESS, // cbBTC / USD price feed + ETH_USD_PRICE_FEED_ADDRESS, // USD / ETH price feed + 8, // decimals + 'cbBTC / ETH price feed', // description + ] + ); + + return { cbBTCPriceFeedAddress: _cbBTCPriceFeed.address }; + }, + + enact: async ( + deploymentManager: DeploymentManager, + govDeploymentManager: DeploymentManager, + { cbBTCPriceFeedAddress } + ) => { + const trace = deploymentManager.tracer(); + + const cbBTC = await deploymentManager.existing( + 'cbBTC', + CBBTC_ADDRESS, + 'base', + 'contracts/ERC20.sol:ERC20' + ); + const cbBTCPriceFeed = await deploymentManager.existing( + 'cbBTC:priceFeed', + cbBTCPriceFeedAddress, + 'base' + ); + + const { + bridgeReceiver, + comet, + cometAdmin, + configurator, + } = await deploymentManager.getContracts(); + + const { governor, baseL1CrossDomainMessenger } = await govDeploymentManager.getContracts(); + + const newAssetConfig = { + asset: cbBTC.address, + priceFeed: cbBTCPriceFeed.address, + decimals: await cbBTC.decimals(), + borrowCollateralFactor: exp(0.80, 18), + liquidateCollateralFactor: exp(0.85, 18), + liquidationFactor: exp(0.95, 18), + supplyCap: exp(45, 8), + }; + + newPriceFeedAddress = cbBTCPriceFeed.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 cbBTC as collateral into cWETHv3 on Base\n\n## Proposal summary\n\nCompound Growth Program [AlphaGrowth] proposes to add cbBTC 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-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/926) 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 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 { + 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: newPriceFeedAddress, + decimals: 8, + borrowCollateralFactor: exp(0.80, 18), + liquidateCollateralFactor: exp(0.85, 18), + liquidationFactor: exp(0.95, 18), + supplyCap: exp(45, 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); + }, +});