Add wstETH as collateral to USDC market on Base (#889)

Co-authored-by: GitHub Actions Bot <>

deployments/base/usdc/migrations/1721034240_add_wsteth_as_collateral.ts

@@ -0,0 +1,193 @@
+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 WSTETH_ADDRESS = '0xc1CBa3fCea344f92D9239c08C0568f6F2F0ee452';
+const WSTETH_STETH_PRICE_FEED_ADDRESS = '0xB88BAc61a4Ca37C43a3725912B1f472c9A5bc061';
+const STETH_ETH_PRICE_FEED_ADDRESS = '0xf586d0728a47229e747d824a939000Cf21dEF5A0';
+let newPriceFeedAddress: string;
+
+export default migration('1721034240_add_wsteth_as_collateral', {
+  async prepare(deploymentManager: DeploymentManager) {
+    const _wstETHToETHPriceFeed = await deploymentManager.deploy(
+      'wstETH:priceFeed',
+      'pricefeeds/MultiplicativePriceFeed.sol',
+      [
+        WSTETH_STETH_PRICE_FEED_ADDRESS, // wstETH / stETH price feed
+        STETH_ETH_PRICE_FEED_ADDRESS,    // stETH / ETH price feed
+        8,                               // decimals
+        'wstETH / ETH price feed'        // description
+      ]
+    );
+    const _ETHToUSDPriceFeed = await deploymentManager.fromDep('WETH:priceFeed', 'base', 'usdc');
+    const _wstETHScalingPriceFeed = await deploymentManager.deploy(
+      'wstETH:priceFeed',
+      'pricefeeds/MultiplicativePriceFeed.sol',
+      [
+        _wstETHToETHPriceFeed.address, // wstETH / ETH price feed
+        _ETHToUSDPriceFeed.address,    // ETH / USD price feed
+        8,                             // decimals
+        'wstETH / USD price feed'      // description
+      ],
+      true
+    );
+    return { wstETHScalingPriceFeed: _wstETHScalingPriceFeed.address };
+  },
+
+  enact: async (
+    deploymentManager: DeploymentManager,
+    govDeploymentManager: DeploymentManager,
+    { wstETHScalingPriceFeed }
+  ) => {
+    const trace = deploymentManager.tracer();
+
+    const wstETH = await deploymentManager.existing(
+      'wstETH',
+      WSTETH_ADDRESS,
+      'base',
+      'contracts/ERC20.sol:ERC20'
+    );
+    const wstETHPricefeed = await deploymentManager.existing(
+      'wstETH:priceFeed',
+      wstETHScalingPriceFeed,
+      'base'
+    );
+
+    const {
+      bridgeReceiver,
+      comet,
+      cometAdmin,
+      configurator,
+    } = await deploymentManager.getContracts();
+
+    const { governor, baseL1CrossDomainMessenger } = await govDeploymentManager.getContracts();
+
+    const newAssetConfig = {
+      asset: wstETH.address,
+      priceFeed: wstETHPricefeed.address,
+      decimals: await wstETH.decimals(),
+      borrowCollateralFactor: exp(0.80, 18),
+      liquidateCollateralFactor: exp(0.85, 18),
+      liquidationFactor: exp(0.90, 18),
+      supplyCap: exp(700, 18),
+    };
+
+    newPriceFeedAddress = wstETHPricefeed.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 wstETH as collateral into cUSDCv3 on Base\n\n## Proposal summary\n\nCompound Growth Program [AlphaGrowth] proposes to add wstETH into cUSDCv3 on Base network. This proposal takes the governance steps recommended and necessary to update a Compound III USDC 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/gauntlet-wsteth-and-ezeth-asset-listing/5404/1).\n\nFurther detailed information can be found on the corresponding [proposal pull request](https://github.com/compound-finance/comet/pull/889) and [forum discussion](https://www.comp.xyz/t/gauntlet-wsteth-and-ezeth-asset-listing/5404).\n\n\n## Proposal Actions\n\nThe first proposal action adds wstETH to the USDC 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 wstETHAssetIndex = Number(await comet.numAssets()) - 1;
+
+    const wstETHAssetConfig = {
+      asset: WSTETH_ADDRESS,
+      priceFeed: newPriceFeedAddress,
+      decimals: 18,
+      borrowCollateralFactor: exp(0.80, 18),
+      liquidateCollateralFactor: exp(0.85, 18),
+      liquidationFactor: exp(0.90, 18),
+      supplyCap: exp(700, 18),
+    };
+
+    // 1. Compare proposed asset config with Comet asset info
+    const wstETHAssetInfo = await comet.getAssetInfoByAddress(
+      WSTETH_ADDRESS
+    );
+    expect(wstETHAssetIndex).to.be.equal(wstETHAssetInfo.offset);
+    expect(wstETHAssetConfig.asset).to.be.equal(wstETHAssetInfo.asset);
+    expect(wstETHAssetConfig.priceFeed).to.be.equal(
+      wstETHAssetInfo.priceFeed
+    );
+    expect(exp(1, wstETHAssetConfig.decimals)).to.be.equal(
+      wstETHAssetInfo.scale
+    );
+    expect(wstETHAssetConfig.borrowCollateralFactor).to.be.equal(
+      wstETHAssetInfo.borrowCollateralFactor
+    );
+    expect(wstETHAssetConfig.liquidateCollateralFactor).to.be.equal(
+      wstETHAssetInfo.liquidateCollateralFactor
+    );
+    expect(wstETHAssetConfig.liquidationFactor).to.be.equal(
+      wstETHAssetInfo.liquidationFactor
+    );
+    expect(wstETHAssetConfig.supplyCap).to.be.equal(
+      wstETHAssetInfo.supplyCap
+    );
+
+    // 2. Compare proposed asset config with Configurator asset config
+    const configuratorWstETHAssetConfig = (
+      await configurator.getConfiguration(comet.address)
+    ).assetConfigs[wstETHAssetIndex];
+    expect(wstETHAssetConfig.asset).to.be.equal(
+      configuratorWstETHAssetConfig.asset
+    );
+    expect(wstETHAssetConfig.priceFeed).to.be.equal(
+      configuratorWstETHAssetConfig.priceFeed
+    );
+    expect(wstETHAssetConfig.decimals).to.be.equal(
+      configuratorWstETHAssetConfig.decimals
+    );
+    expect(wstETHAssetConfig.borrowCollateralFactor).to.be.equal(
+      configuratorWstETHAssetConfig.borrowCollateralFactor
+    );
+    expect(wstETHAssetConfig.liquidateCollateralFactor).to.be.equal(
+      configuratorWstETHAssetConfig.liquidateCollateralFactor
+    );
+    expect(wstETHAssetConfig.liquidationFactor).to.be.equal(
+      configuratorWstETHAssetConfig.liquidationFactor
+    );
+    expect(wstETHAssetConfig.supplyCap).to.be.equal(
+      configuratorWstETHAssetConfig.supplyCap
+    );
+  },
+});

deployments/base/usdc/relations.ts

@@ -24,5 +24,14 @@ export default {
         slot: '0x360894a13ba1a3210667c828492db98dca3e2076cc3735a920a3ca505d382bbc'
       }
     }
-  }
+  },
+
+  OssifiableProxy: {
+    artifact: 'contracts/ERC20.sol:ERC20',
+    delegates: {
+      field: {
+        slot: '0x360894a13ba1a3210667c828492db98dca3e2076cc3735a920a3ca505d382bbc'
+      }
+    }
+  },
 };