Skip to content
New issue

Have a question about this project? Sign up for a free GitHub account to open an issue and contact its maintainers and the community.

By clicking “Sign up for GitHub”, you agree to our terms of service and privacy statement. We’ll occasionally send you account related emails.

Already on GitHub? Sign in to your account

On-chain add osETH collateral to WETH Mainnet market #23

Open
wants to merge 10 commits into
base: main
Choose a base branch
from
153 changes: 153 additions & 0 deletions deployments/mainnet/weth/migrations/1718974114_add_oseth_collateral.ts
Original file line number Diff line number Diff line change
@@ -0,0 +1,153 @@
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 OSETH_ADDRESS = '0xf1C9acDc66974dFB6dEcB12aA385b9cD01190E38';
const OSETH_PRICE_FEED_ADDRESS = '0x8023518b2192FB5384DAdc596765B3dD1cdFe471';

export default migration('1718974114_add_oseth_collateral', {
async prepare(deploymentManager: DeploymentManager) {
const _osETHScalingPriceFeed = await deploymentManager.deploy(
'osETH:priceFeed',
'pricefeeds/ScalingPriceFeed.sol',
[
OSETH_PRICE_FEED_ADDRESS, // osETH / ETH price feed
8 // decimals
]
);
return { osETHScalingPriceFeed: _osETHScalingPriceFeed.address };
},

async enact(deploymentManager: DeploymentManager, _, { osETHScalingPriceFeed }) {

const trace = deploymentManager.tracer();

const osETH = await deploymentManager.existing(
'osETH',
OSETH_ADDRESS,
'mainnet',
'contracts/ERC20.sol:ERC20'
);
const osEthPricefeed = await deploymentManager.existing(
'osETH:priceFeed',
osETHScalingPriceFeed,
'mainnet'
);

const {
governor,
comet,
cometAdmin,
configurator,
} = await deploymentManager.getContracts();

const osETHAssetConfig = {
asset: osETH.address,
priceFeed: osEthPricefeed.address,
decimals: await osETH.decimals(),
borrowCollateralFactor: exp(0.80, 18),
liquidateCollateralFactor: exp(0.85, 18),
liquidationFactor: exp(0.9, 18),
supplyCap: exp(10_000, 18),
};

const mainnetActions = [
// 1. Add osETH as asset
{
contract: configurator,
signature: 'addAsset(address,(address,address,uint8,uint64,uint64,uint64,uint128))',
args: [comet.address, osETHAssetConfig],
},
// 2. Deploy and upgrade to a new version of Comet
{
contract: cometAdmin,
signature: 'deployAndUpgradeTo(address,address)',
args: [configurator.address, comet.address],
},
];

const description = '# Add osETH as collateral into cWETHv3 on Mainnet\n\n## Proposal summary\n\nCompound Growth Program [AlphaGrowth] proposes to add osETH into cWETHv3 on Ethereum network. This proposal takes the governance steps recommended and necessary to update a Compound III WETH 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 on the [recommendations from Gauntlet osETH](https://www.comp.xyz/t/add-oseth-as-a-collateral-on-ethereum-mainnet/5272/2).\n\nFurther detailed information can be found on the corresponding [proposal pull request](https://github.com/compound-finance/comet/pull/871) and [forum discussion osETH](https://www.comp.xyz/t/add-oseth-as-a-collateral-on-ethereum-mainnet/5272).\n\n## Price feed\n\nChainlink does not have osETH/ETH price feed on their website, however, Chainlink team ensured us that this address is the native exchange rate [price feed](https://etherscan.io/address/0x8023518b2192FB5384DAdc596765B3dD1cdFe471)\n\n\n## Proposal Actions\n\nThe first action adds osETH 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<boolean> {
return false;
},

async verify(deploymentManager: DeploymentManager) {
const { comet, configurator } = await deploymentManager.getContracts();

const osETHAssetIndex = Number(await comet.numAssets()) - 1;

const osETH = await deploymentManager.existing(
'osETH',
OSETH_ADDRESS,
'mainnet',
'contracts/ERC20.sol:ERC20'
);
const osETHAssetConfig = {
asset: osETH.address,
priceFeed: '',
decimals: await osETH.decimals(),
borrowCollateralFactor: exp(0.80, 18),
liquidateCollateralFactor: exp(0.85, 18),
liquidationFactor: exp(0.9, 18),
supplyCap: exp(10_000, 18), // 10_000
};

// 1. Compare osETH asset config with Comet and Configurator asset info
const cometOsETHAssetInfo = await comet.getAssetInfoByAddress(
OSETH_ADDRESS
);
expect(osETHAssetIndex).to.be.equal(cometOsETHAssetInfo.offset);
expect(osETHAssetConfig.asset).to.be.equal(cometOsETHAssetInfo.asset);
expect(exp(1, osETHAssetConfig.decimals)).to.be.equal(
cometOsETHAssetInfo.scale
);
expect(osETHAssetConfig.borrowCollateralFactor).to.be.equal(
cometOsETHAssetInfo.borrowCollateralFactor
);
expect(osETHAssetConfig.liquidateCollateralFactor).to.be.equal(
cometOsETHAssetInfo.liquidateCollateralFactor
);
expect(osETHAssetConfig.liquidationFactor).to.be.equal(
cometOsETHAssetInfo.liquidationFactor
);
expect(osETHAssetConfig.supplyCap).to.be.equal(
cometOsETHAssetInfo.supplyCap
);

const configuratorOsETHAssetConfig = (
await configurator.getConfiguration(comet.address)
).assetConfigs[osETHAssetIndex];
expect(osETHAssetConfig.asset).to.be.equal(
configuratorOsETHAssetConfig.asset
);
expect(osETHAssetConfig.decimals).to.be.equal(
configuratorOsETHAssetConfig.decimals
);
expect(osETHAssetConfig.borrowCollateralFactor).to.be.equal(
configuratorOsETHAssetConfig.borrowCollateralFactor
);
expect(osETHAssetConfig.liquidateCollateralFactor).to.be.equal(
configuratorOsETHAssetConfig.liquidateCollateralFactor
);
expect(osETHAssetConfig.liquidationFactor).to.be.equal(
configuratorOsETHAssetConfig.liquidationFactor
);
expect(osETHAssetConfig.supplyCap).to.be.equal(
configuratorOsETHAssetConfig.supplyCap
);
},
});
2 changes: 1 addition & 1 deletion deployments/mainnet/weth/relations.ts
Original file line number Diff line number Diff line change
Expand Up @@ -29,5 +29,5 @@ export default {
slot: '0x360894a13ba1a3210667c828492db98dca3e2076cc3735a920a3ca505d382bbc'
}
}
}
},
};
Loading