Add wUSDM as collateral to USDC market on Arbitrum

contracts/pricefeeds/WUSDMPriceFeed.sol

@@ -0,0 +1,86 @@
+// SPDX-License-Identifier: BUSL-1.1
+pragma solidity 0.8.15;
+
+import "../vendor/@chainlink/contracts/src/v0.8/interfaces/AggregatorV3Interface.sol";
+import "../vendor/mountain/IMountainRateProvider.sol";
+import "../IPriceFeed.sol";
+
+/**
+ * @title wUSDM price feed
+ * @notice A custom price feed that calculates the price for wUSDM / USD
+ * @author Compound
+ */
+contract WUSDMPriceFeed is IPriceFeed {
+    /** Custom errors **/
+    error BadDecimals();
+    error InvalidInt256();
+
+    /// @notice Version of the price feed
+    uint public constant override version = 1;
+
+    /// @notice Description of the price feed
+    string public constant override description = "Custom price feed for wUSDM / USD";
+
+    /// @notice Number of decimals for returned prices
+    uint8 public immutable override decimals;
+
+    /// @notice Number of decimals for the wUSDM / USDM rate provider
+    uint8 wUSDMToUSDMPriceFeedDecimals;
+
+    /// @notice Number of decimals for the USDM / USD price feed
+    uint8 USDMToUSDPriceFeedDecimals;
+
+    /// @notice Mountain wUSDM / USDM rate provider
+    address public immutable wUSDMToUSDMRateProvider;
+
+    /// @notice Chainlink USDM / USD price feed
+    address public immutable USDMToUSDPriceFeed;
+
+    /// @notice Combined scale of the two underlying price feeds
+    int public immutable combinedScale;
+
+    /// @notice Scale of this price feed
+    int public immutable priceFeedScale;
+
+    /**
+     * @notice Construct a new wUSDM / USD price feed
+     * @param wUSDMToUSDMPriceFeed_ The address of the wUSDM / USDM price feed to fetch prices from
+     * @param USDMToUSDPriceFeed_ The address of the USDM / USD price feed to fetch prices from
+     * @param decimals_ The number of decimals for the returned prices
+     **/
+    constructor(address wUSDMToUSDMPriceFeed_, address USDMToUSDPriceFeed_, uint8 decimals_) {
+        wUSDMToUSDMRateProvider = wUSDMToUSDMPriceFeed_;
+        USDMToUSDPriceFeed = USDMToUSDPriceFeed_;
+        wUSDMToUSDMPriceFeedDecimals = IMountainRateProvider(wUSDMToUSDMPriceFeed_).decimals();
+        USDMToUSDPriceFeedDecimals = AggregatorV3Interface(USDMToUSDPriceFeed_).decimals();
+        combinedScale = signed256(10 ** (wUSDMToUSDMPriceFeedDecimals + USDMToUSDPriceFeedDecimals));
+
+        if (decimals_ > 18) revert BadDecimals();
+        decimals = decimals_;
+        priceFeedScale = int256(10 ** decimals);
+    }
+
+    /**
+     * @notice wUSDM price for the latest round
+     * @return roundId Round id from the USDM / USD price feed
+     * @return answer Latest price for wUSDM / USD
+     * @return startedAt Timestamp when the round was started; passed on from the USDM / USD price feed
+     * @return updatedAt Timestamp when the round was last updated; passed on from the USDM / USD price feed
+     * @return answeredInRound Round id in which the answer was computed; passed on from the USDM / USD price feed
+     **/
+    function latestRoundData() override external view returns (uint80, int256, uint256, uint256, uint80) {
+        uint256 wUSDMToUSDMPrice = IMountainRateProvider(wUSDMToUSDMRateProvider).convertToAssets(10**wUSDMToUSDMPriceFeedDecimals);
+        (uint80 roundId_, int256 USDMToUSDPrice, uint256 startedAt_, uint256 updatedAt_, uint80 answeredInRound_) = AggregatorV3Interface(USDMToUSDPriceFeed).latestRoundData();
+
+        // We return the round data of the USDM / USD price feed because of its shorter heartbeat (1hr vs 24hr)
+        if (wUSDMToUSDMPrice <= 0 || USDMToUSDPrice <= 0) return (roundId_, 0, startedAt_, updatedAt_, answeredInRound_);
+
+        int256 price = signed256(wUSDMToUSDMPrice) * USDMToUSDPrice * priceFeedScale / combinedScale;
+        return (roundId_, price, startedAt_, updatedAt_, answeredInRound_);
+    }
+
+    function signed256(uint256 n) internal pure returns (int256) {
+        if (n > uint256(type(int256).max)) revert InvalidInt256();
+        return int256(n);
+    }
+}

contracts/vendor/mountain/IMountainRateProvider.sol

@@ -0,0 +1,7 @@
+// SPDX-License-Identifier: MIT
+pragma solidity ^0.8.0;
+
+interface IMountainRateProvider {
+  function decimals() external view returns (uint8);
+  function convertToAssets(uint256) external view returns (uint256);
+}

deployments/arbitrum/usdc/migrations/1727427904_add_wusdm_as_collateral.ts

@@ -0,0 +1,196 @@
+import { expect } from 'chai';
+import { DeploymentManager } from '../../../../plugins/deployment_manager/DeploymentManager';
+import { migration } from '../../../../plugins/deployment_manager/Migration';
+import { exp, proposal } from '../../../../src/deploy';
+import { applyL1ToL2Alias, estimateL2Transaction } from '../../../../scenario/utils/arbitrumUtils';
+import { ethers } from 'ethers';
+
+const WUSDM_ADDRESS = '0x57F5E098CaD7A3D1Eed53991D4d66C45C9AF7812';
+const WUSDM_TO_USDM_PRICE_FEED_ADDRESS = '0x57F5E098CaD7A3D1Eed53991D4d66C45C9AF7812';
+const USDM_TO_USD_PRICE_FEED_ADDRESS = '0x24EA2671671c33D66e9854eC06e42E5D3ac1f764';
+
+let newPriceFeedAddress: string;
+
+export default migration('1727427904_add_wusdm_as_collateral', {
+  async prepare(deploymentManager: DeploymentManager) {
+    const _wUSDMPriceFeed = await deploymentManager.deploy(
+      'wUSDM:priceFeed',
+      'pricefeeds/WUSDMPriceFeed.sol',
+      [
+        WUSDM_TO_USDM_PRICE_FEED_ADDRESS, // wUSDM / USDM price feed
+        USDM_TO_USD_PRICE_FEED_ADDRESS,   // USDM / USD price feed
+        8                                 // decimals
+      ]
+    );
+    return { wUSDMPriceFeedAddress: _wUSDMPriceFeed.address };
+  },
+
+  enact: async (deploymentManager: DeploymentManager, govDeploymentManager: DeploymentManager, { wUSDMPriceFeedAddress }) => {
+    const trace = deploymentManager.tracer();
+    const {
+      bridgeReceiver,
+      timelock: l2Timelock,
+      comet,
+      cometAdmin,
+      configurator
+    } = await deploymentManager.getContracts();
+
+    const {
+      arbitrumInbox,
+      timelock,
+      governor
+    } = await govDeploymentManager.getContracts();
+
+    newPriceFeedAddress = wUSDMPriceFeedAddress;
+
+    const wUSDM = await deploymentManager.existing(
+      'wUSDM',
+      WUSDM_ADDRESS,
+      'arbitrum',
+      'contracts/ERC20.sol:ERC20'
+    );
+
+    const wUSDMPriceFeed = await deploymentManager.existing(
+      'wUSDM:priceFeed',
+      wUSDMPriceFeedAddress,
+      'arbitrum'
+    );
+
+    const wUSDMAssetConfig = {
+      asset: wUSDM.address,
+      priceFeed: wUSDMPriceFeed.address,
+      decimals: 18n,
+      borrowCollateralFactor: exp(0.88, 18),
+      liquidateCollateralFactor: exp(0.90, 18),
+      liquidationFactor: exp(0.95, 18),
+      supplyCap: exp(4_500_000, 18),
+    };
+
+    const addAssetCalldata = ethers.utils.defaultAbiCoder.encode(
+      ['address', 'tuple(address,address,uint8,uint64,uint64,uint64,uint128)'],
+      [comet.address,
+        [
+          wUSDMAssetConfig.asset,
+          wUSDMAssetConfig.priceFeed,
+          wUSDMAssetConfig.decimals,
+          wUSDMAssetConfig.borrowCollateralFactor,
+          wUSDMAssetConfig.liquidateCollateralFactor,
+          wUSDMAssetConfig.liquidationFactor,
+          wUSDMAssetConfig.supplyCap
+        ]
+      ]
+    );
+
+    const deployAndUpgradeToCalldata = ethers.utils.defaultAbiCoder.encode(
+      ['address', 'address'],
+      [configurator.address, comet.address]
+    );
+
+    const l2ProposalData = ethers.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 createRetryableTicketGasParams = await estimateL2Transaction(
+      {
+        from: applyL1ToL2Alias(timelock.address),
+        to: bridgeReceiver.address,
+        data: l2ProposalData
+      },
+      deploymentManager
+    );
+    const refundAddress = l2Timelock.address;
+
+    const mainnetActions = [
+      // 1. Set Comet configuration and deployAndUpgradeTo USDC Comet on Arbitrum.
+      {
+        contract: arbitrumInbox,
+        signature: 'createRetryableTicket(address,uint256,uint256,address,address,uint256,uint256,bytes)',
+        args: [
+          bridgeReceiver.address,                           // address to,
+          0,                                                // uint256 l2CallValue,
+          createRetryableTicketGasParams.maxSubmissionCost, // uint256 maxSubmissionCost,
+          refundAddress,                                    // address excessFeeRefundAddress,
+          refundAddress,                                    // address callValueRefundAddress,
+          createRetryableTicketGasParams.gasLimit,          // uint256 gasLimit,
+          createRetryableTicketGasParams.maxFeePerGas,      // uint256 maxFeePerGas,
+          l2ProposalData,                                   // bytes calldata data
+        ],
+        value: createRetryableTicketGasParams.deposit
+      },
+    ];
+
+    const description = '# Add wUSDM as collateral into cUSDCv3 on Arbitrum\n\n## Proposal summary\n\nCompound Growth Program [AlphaGrowth] proposes to add wUSDM into cUSDCv3 on Arbitrum network. This proposal takes the governance steps recommended and necessary to update a Compound III USDC market on Arbitrum. 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/list-wusdm-as-a-collateral-on-usdc-usdt-markets-on-arbitrum-and-ethereum/5590/3).\n\nFurther detailed information can be found on the corresponding [proposal pull request](https://github.com/compound-finance/comet/pull/931) and [forum discussion](https://www.comp.xyz/t/list-wusdm-as-a-collateral-on-usdc-usdt-markets-on-arbitrum-and-ethereum/5590/3).\n\n\n## Proposal Actions\n\nThe first proposal action adds wUSDM to the USDC Comet on Arbitrum. This sends the encoded `addAsset` and `deployAndUpgradeTo` calls across the bridge to the governance receiver on Arbitrum.';
+    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(): Promise<boolean> {
+    return false;
+  }, 
+
+  async verify(deploymentManager: DeploymentManager) {
+    const { comet, configurator } = await deploymentManager.getContracts();
+
+    const wUSDMAssetIndex = Number(await comet.numAssets()) - 1;
+
+    const wUSDM = await deploymentManager.existing(
+      'wUSDM',
+      WUSDM_ADDRESS,
+      'arbitrum',
+      'contracts/ERC20.sol:ERC20'
+    );
+
+    const wUSDMAssetConfig = {
+      asset: wUSDM.address,
+      priceFeed: newPriceFeedAddress,
+      decimals: 18n,
+      borrowCollateralFactor: exp(0.88, 18),
+      liquidateCollateralFactor: exp(0.90, 18),
+      liquidationFactor: exp(0.95, 18),
+      supplyCap: exp(4_500_000, 18),
+    };
+
+    // 1. & 2. Compare wUSDM asset config with Comet and Configurator asset info
+    const cometWUSDMAssetInfo = await comet.getAssetInfoByAddress(WUSDM_ADDRESS);
+    expect(wUSDMAssetIndex).to.be.equal(cometWUSDMAssetInfo.offset);
+    expect(wUSDMAssetConfig.asset).to.be.equal(cometWUSDMAssetInfo.asset);
+    expect(exp(1, wUSDMAssetConfig.decimals)).to.be.equal(cometWUSDMAssetInfo.scale);
+    expect(wUSDMAssetConfig.borrowCollateralFactor).to.be.equal(cometWUSDMAssetInfo.borrowCollateralFactor);
+    expect(wUSDMAssetConfig.liquidateCollateralFactor).to.be.equal(cometWUSDMAssetInfo.liquidateCollateralFactor);
+    expect(wUSDMAssetConfig.liquidationFactor).to.be.equal(cometWUSDMAssetInfo.liquidationFactor);
+    expect(wUSDMAssetConfig.supplyCap).to.be.equal(cometWUSDMAssetInfo.supplyCap);
+
+    const configuratorWUSDMAssetConfig = (await configurator.getConfiguration(comet.address)).assetConfigs[wUSDMAssetIndex];
+    expect(wUSDMAssetConfig.asset).to.be.equal(configuratorWUSDMAssetConfig.asset);
+    expect(wUSDMAssetConfig.decimals).to.be.equal(configuratorWUSDMAssetConfig.decimals);
+    expect(wUSDMAssetConfig.borrowCollateralFactor).to.be.equal(configuratorWUSDMAssetConfig.borrowCollateralFactor);
+    expect(wUSDMAssetConfig.liquidateCollateralFactor).to.be.equal(configuratorWUSDMAssetConfig.liquidateCollateralFactor);
+    expect(wUSDMAssetConfig.liquidationFactor).to.be.equal(configuratorWUSDMAssetConfig.liquidationFactor);
+    expect(wUSDMAssetConfig.supplyCap).to.be.equal(configuratorWUSDMAssetConfig.supplyCap);
+  },
+});

deployments/arbitrum/usdc/relations.ts

@@ -59,4 +59,12 @@ export default {
       }
     }
   },
+  ERC1967Proxy: {
+    artifact: 'contracts/ERC20.sol:ERC20',
+    delegates: {
+      field: {
+        slot: '0x360894a13ba1a3210667c828492db98dca3e2076cc3735a920a3ca505d382bbc'
+      }
+    }
+  },
 };

src/deploy/index.ts

@@ -112,7 +112,8 @@ export const WHALES = {
     '0xee3273f6d29ddfff08ffd9d513cff314734f01a2', // COMP whale
     '0x9e786a8fc88ee74b758b125071d45853356024c3', // COMP whale
     '0xd93f76944e870900779c09ddf1c46275f9d8bf9b', // COMP whale
-    '0xe68ee8a12c611fd043fb05d65e1548dc1383f2b9'  // native USDC whale
+    '0xe68ee8a12c611fd043fb05d65e1548dc1383f2b9', // native USDC whale
+    '0x56CC5A9c0788e674f17F7555dC8D3e2F1C0313C0', // wUSDM whale
   ],
   base: [
     '0x6D3c5a4a7aC4B1428368310E4EC3bB1350d01455', // USDbC whale