Proposal summary

Woof proposes to deprecate rsETH from cWETHv3 on Unichain network, due to its Kelp oracle deprecation.

In order to achieve this, rsETH's price feed will be updated to a new one, which will return the smallest acceptable price - 0.00000001 (1e-8); the borrow collateral factor, liquidation factor and liquidate collateral factor will be set to 0; the supply cap will be set to 0 to prevent further deposits.

This proposal takes the governance steps recommended and necessary to update a Compound III WETH market on Unichain. Simulations have confirmed the market's readiness, as much as possible, using the Comet scenario suite.

Further detailed information can be found on the corresponding proposal pull request.

Forum

Proposal Actions

The first proposal action updates rsETH config to a deprecated state and deploys and upgrades Comet to a new version. This sends the encoded 'updateAsset' and 'deployAndUpgradeTo' calls across the bridge to the governance receiver on Unichain.