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MIP-X10 #441

Merged
merged 10 commits into from
Dec 31, 2024
Merged

MIP-X10 #441

merged 10 commits into from
Dec 31, 2024

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rsrizvi
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@rsrizvi rsrizvi commented Dec 14, 2024

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rsrizvi commented Dec 14, 2024

@anajuliabit @ElliotFriedman If I try to generate calldata locally via source proposals/mips/mip-x09/x09.sh && forge script proposals/templates/MarketUpdate.sol

I get the following error for Moonbeam xcDOT:

[17952] mxcDOT::_setReserveFactor(500000000000000000 [5e17])
    │   │   │   ├─ [12272] 0x47DFFebeF33719315bD5a91DB6BFb81691347914::_setReserveFactor(500000000000000000 [5e17]) [delegatecall]
    │   │   │   │   ├─ [6] xcDOT::balanceOf(mxcDOT: [0xD22Da948c0aB3A27f5570b604f3ADef5F68211C3]) [staticcall]
    │   │   │   │   │   └─ ← [Revert] EvmError: Revert
    │   │   │   │   └─ ← [Revert] EvmError: Revert
    │   │   │   └─ ← [Revert] EvmError: Revert
    │   │   └─ ← [Revert] revert: MultichainGovernor: execute call failed
    │   └─ ← [Revert] revert: MultichainGovernor: execute call failed
    └─ ← [Revert] log != expected log

If I remove the mxcDOT entry from the json, I am able to generate the calldata without issues. Could you please advise?

{
"collateralFactor": -1,
"irm": "",
"market": "mxcDOT",
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because this uses a precompile, interacting with it causes problems. normally when we interact with contracts like that, we etch over them using the etch utils file

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Signed-off-by: Elliot <elliotfriedman3@gmail.com>
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@rsrizvi fix is in this PR, please take a pass #442

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rsrizvi commented Dec 16, 2024

@rsrizvi fix is in this PR, please take a pass #442

Thanks. What is TLDR on this etch mechanism? I'm fine to approve if you are confident in the change

Signed-off-by: Elliot <elliotfriedman3@gmail.com>
Signed-off-by: Elliot <elliotfriedman3@gmail.com>
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TLDR is we aren't changing any of the proposal code that you wrote, just etching over precompile contracts on Moonbeam so the proposal doesn't fail due to a faulty simulation that reverts whenever it calls the GLMR, USDC, or xcDOT contracts.

"10": {
"markets": [
{
"collateralFactor": 0.1e18,
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confirming we are dropping CF for wBTC on Optimism to 10%

{
"collateralFactor": -1,
"irm": "",
"market": "mxcDOT",
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proposals/mips/mip-x09/x09.md Outdated Show resolved Hide resolved
Co-authored-by: Elliot <34463580+ElliotFriedman@users.noreply.github.com>
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rsrizvi commented Dec 18, 2024

@ElliotFriedman Please merge your referenced PR, then I will pull master, push, and also regenerate the calldata

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openzeppelin-code bot commented Dec 18, 2024

MIP-X10

Generated at commit: ebf37f4f88c69dee4cb8c1b8668c7709481ffb13

🚨 Report Summary

Severity Level Results
Contracts Critical
High
Medium
Low
Note
Total
3
3
0
12
45
63
Dependencies Critical
High
Medium
Low
Note
Total
0
0
0
0
0
0

For more details view the full report in OpenZeppelin Code Inspector

@lyoungblood lyoungblood changed the title MIP-X09 MIP-X10 Dec 18, 2024
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rsrizvi commented Dec 18, 2024

rameel@Mac moonwell-contracts-v2 % source proposals/mips/mip-x10/x10.sh && forge script proposals/templates/MarketUpdate.sol
JSON_PATH=proposals/mips/mip-x10/x10.json
DESCRIPTION_PATH=proposals/mips/mip-x10/x10.md
PRIMARY_FORK_ID=0
[⠊] Compiling...
[⠒] Compiling 12 files with Solc 0.8.10
[⠘] Compiling 230 files with Solc 0.8.19
[⠔] Solc 0.8.10 finished in 653.26ms
[⠑] Solc 0.8.19 finished in 13.78s
Compiler run successful!
Script ran successfully.
Gas used: 39162623

== Logs ==
  

--------------- Proposal Description ----------------
 # MIP-X10: Gauntlet's Monthly Recommendations (12/13/2024)

## Base

A proposal to adjust 4 risk parameters:

| Risk Parameter          | Current Value | Recommended Value |
| ----------------------- | ------------- | ----------------- |
| USDbC Supply Cap        | 110,000       | 1                 |
| USDbC Borrow Cap        | 110,000       | 1                 |
| USDbC Collateral Factor | 69%           | 63%               |
| weETH Collateral Factor | 74%           | 78%               |

<sub> \*Cap Recommendations will be implemented via Guardian </sub>

### IR Parameters

A proposal to adjust IR parameters for USDC, EURC and cbBTC:

| USDC IR Parameters | Current   | Recommended |
| ------------------ | --------- | ----------- |
| Base               | 0         | 0           |
| Kink               | 0.9       | 0.9         |
| Multiplier         | **0.056** | **0.061**   |
| Jump Multiplier    | 9         | 9           |

| EURC IR Parameters | Current   | Recommended |
| ------------------ | --------- | ----------- |
| Base               | 0         | 0           |
| Kink               | 0.9       | 0.9         |
| Multiplier         | **0.056** | **0.061**   |
| Jump Multiplier    | 9         | 9           |

| cbBTC IR Parameters | Current   | Recommended |
| ------------------- | --------- | ----------- |
| Base                | 0         | 0           |
| Kink                | **0.6**   | **0.35**    |
| Multiplier          | **0.067** | **0.045**   |
| Jump Multiplier     | **3**     | **2**       |

## Optimism

A proposal to adjust 4 risk parameters:

| Risk Parameter         | Current Value | Recommended Value |
| ---------------------- | ------------- | ----------------- |
| WBTC Collateral Factor | 50%           | 10%               |
| WBTC Supply Cap        | 1             | 0.0001            |
| WBTC Borrow Cap        | 0.1           | 0.0001            |
| WETH Supply Cap        | 10,000        | 12,000            |

<sub> \*Cap Recommendations will be implemented via Guardian </sub>

### IR Parameters

A proposal to adjust IR parameters for USDC, USDT,and DAI

| USDC IR Parameters | Current   | Recommended |
| ------------------ | --------- | ----------- |
| Base               | 0         | 0           |
| Kink               | 0.9       | 0.9         |
| Multiplier         | **0.056** | **0.061**   |
| Jump Multiplier    | 9         | 9           |

| USDT IR Parameters | Current   | Recommended |
| ------------------ | --------- | ----------- |
| Base               | 0         | 0           |
| Kink               | 0.9       | 0.9         |
| Multiplier         | **0.056** | **0.061**   |
| Jump Multiplier    | 9         | 9           |

| DAI IR Parameters | Current   | Recommended |
| ----------------- | --------- | ----------- |
| Base              | 0         | 0           |
| Kink              | 0.9       | 0.9         |
| Multiplier        | **0.056** | **0.061**   |
| Jump Multiplier   | 9         | 9           |

## Moonbeam

A proposal to adjust 6 total risk parameters:

| Parameter                 | Current Value | Recommended Value |
| ------------------------- | ------------- | ----------------- |
| WBTC.wh Borrow Cap        | 0.5           | 0.1               |
| USDC.wh Collateral Factor | 42%           | 39%               |
| WETH.wh Collateral Factor | 38%           | 33%               |
| WBTC.wh Collateral Factor | 15%           | 14%               |
| xcDOT Reserve Factor      | 35%           | 50%               |
| WGLMR Reserve Factor      | 35%           | 50%               |

<sub> \*Cap Recommendations will be implemented via Guardian </sub>

Our recommendation post is located in the forums, please refer to this
[link](https://forum.moonwell.fi/t/gauntlet-base-optimism-moonbeam-moonriver-monthly-recommendations-2024-12-13/1458).
By approving this proposal, you agree that any services provided by Gauntlet
shall be governed by the terms of service available at gauntlet.network/tos

  

----------------- Proposal Actions ------------------

  1). Set collateral factor to 390000000000000000 for mUSDCwh
  target: 0x8E00D5e02E65A19337Cdba98bbA9F84d4186a180
value: 0
payload:
  0xe4028eee000000000000000000000000744b1756e7651c6d57f5311767eafe5e931d615b00000000000000000000000000000000000000000000000005698eef06670000
  Proposal type: Moonbeam

  

  2). Set collateral factor to 330000000000000000 for MOONWELL_mETH
  target: 0x8E00D5e02E65A19337Cdba98bbA9F84d4186a180
value: 0
payload:
  0xe4028eee000000000000000000000000b6c94b3a378537300387b57ab1cc0d2083f9aeac0000000000000000000000000000000000000000000000000494654067e10000
  Proposal type: Moonbeam

  

  3). Set collateral factor to 140000000000000000 for MOONWELL_mWBTC
  target: 0x8E00D5e02E65A19337Cdba98bbA9F84d4186a180
value: 0
payload:
  0xe4028eee000000000000000000000000aaa20c5a584a9fecdfedd71e46da7858b774a9ce00000000000000000000000000000000000000000000000001f161421c8e0000
  Proposal type: Moonbeam

  

  4). Set reserve factor to 500000000000000000 for mxcDOT
  target: 0xD22Da948c0aB3A27f5570b604f3ADef5F68211C3
value: 0
payload:
  0xfca7820b00000000000000000000000000000000000000000000000006f05b59d3b20000
  Proposal type: Moonbeam

  

  5). Set reserve factor to 500000000000000000 for mGLIMMER
  target: 0x091608f4e4a15335145be0A279483C0f8E4c7955
value: 0
payload:
  0xfca7820b00000000000000000000000000000000000000000000000006f05b59d3b20000
  Proposal type: Moonbeam

  

  6). Set collateral factor to 100000000000000000 for MOONWELL_WBTC
  target: 0xCa889f40aae37FFf165BccF69aeF1E82b5C511B9
value: 0
payload:
  0xe4028eee0000000000000000000000006e6ca598a06e609c913551b729a228b023f06fdb000000000000000000000000000000000000000000000000016345785d8a0000
  Proposal type: Optimism

  

  7). Set JRM for 0x9c3431faf6aF953815893ca4661B8F437ce0Ee22 for MOONWELL_USDC
  target: 0x8E08617b0d66359D73Aa11E11017834C29155525
value: 0
payload:
  0xf2b3abbd0000000000000000000000009c3431faf6af953815893ca4661b8f437ce0ee22
  Proposal type: Optimism

  

  8). Set JRM for 0x9c3431faf6aF953815893ca4661B8F437ce0Ee22 for MOONWELL_USDT
  target: 0xa3A53899EE8f9f6E963437C5B3f805FEc538BF84
value: 0
payload:
  0xf2b3abbd0000000000000000000000009c3431faf6af953815893ca4661b8f437ce0ee22
  Proposal type: Optimism

  

  9). Set JRM for 0x9c3431faf6aF953815893ca4661B8F437ce0Ee22 for MOONWELL_DAI
  target: 0x3FE782C2Fe7668C2F1Eb313ACf3022a31feaD6B2
value: 0
payload:
  0xf2b3abbd0000000000000000000000009c3431faf6af953815893ca4661b8f437ce0ee22
  Proposal type: Optimism

  

  10). Set collateral factor to 630000000000000000 for MOONWELL_USDBC
  target: 0xfBb21d0380beE3312B33c4353c8936a0F13EF26C
value: 0
payload:
  0xe4028eee000000000000000000000000703843c3379b52f9ff486c9f5892218d2a065cc800000000000000000000000000000000000000000000000008be35a9807f0000
  Proposal type: Base

  

  11). Set collateral factor to 780000000000000000 for MOONWELL_weETH
  target: 0xfBb21d0380beE3312B33c4353c8936a0F13EF26C
value: 0
payload:
  0xe4028eee000000000000000000000000b8051464c8c92209c92f3a4cd9c73746c4c3cfb30000000000000000000000000000000000000000000000000ad31dde0cce0000
  Proposal type: Base

  

  12). Set JRM for 0x01635c141C070944EAE7919443ff61dB2a6a4597 for MOONWELL_USDC
  target: 0xEdc817A28E8B93B03976FBd4a3dDBc9f7D176c22
value: 0
payload:
  0xf2b3abbd00000000000000000000000001635c141c070944eae7919443ff61db2a6a4597
  Proposal type: Base

  

  13). Set JRM for 0x01635c141C070944EAE7919443ff61dB2a6a4597 for MOONWELL_EURC
  target: 0xb682c840B5F4FC58B20769E691A6fa1305A501a2
value: 0
payload:
  0xf2b3abbd00000000000000000000000001635c141c070944eae7919443ff61db2a6a4597
  Proposal type: Base

  

  14). Set JRM for 0x2B42e79f46e4E5d8966b098140915d1E7355E1E6 for MOONWELL_cbBTC
  target: 0xF877ACaFA28c19b96727966690b2f44d35aD5976
value: 0
payload:
  0xf2b3abbd0000000000000000000000002b42e79f46e4e5d8966b098140915d1e7355e1e6
  Proposal type: Base

  

  

----------------- Proposal Calldata ------------------

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@anajuliabit anajuliabit changed the base branch from main to fix/integration-tests December 30, 2024 17:47
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Compiling 4 files with Solc 0.8.19
Solc 0.8.19 finished in 8.46ms
Compiler run successful!
Script ran successfully.
Gas used: 33188618

If you wish to simulate on-chain transactions pass a RPC URL.

Base automatically changed from fix/integration-tests to main December 31, 2024 17:33
@ElliotFriedman ElliotFriedman merged commit 905b111 into main Dec 31, 2024
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@ElliotFriedman ElliotFriedman deleted the mip-x09 branch December 31, 2024 17:36
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