Add tBTC as collateral to USDC market on Mainnet (#935)

Co-authored-by: Dmitriy Babenko <[email protected]>
Co-authored-by: dmitriy-woof-software <[email protected]>
Co-authored-by: GitHub Actions Bot <>

deployments/mainnet/usdc/migrations/1728053491_add_tbtc_collateral.ts

@@ -0,0 +1,133 @@
+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 TBTC_ADDRESS = '0x18084fbA666a33d37592fA2633fD49a74DD93a88';
+const TBTC_TO_USD_PRICE_FEED = '0x8350b7De6a6a2C1368E7D4Bd968190e13E354297';
+
+let newPriceFeedAddress: string;
+
+export default migration('1728053491_add_tbtc_collateral', {
+  async prepare(deploymentManager: DeploymentManager) {
+    const tBTCMultiplicativePriceFeed = await deploymentManager.deploy(
+      'tBTC:priceFeed',
+      'pricefeeds/ScalingPriceFeed.sol',
+      [
+        TBTC_TO_USD_PRICE_FEED,   // tBTC / USD price feed
+        8,                        // decimals
+      ]
+    );
+    return { tBTCPriceFeedAddress: tBTCMultiplicativePriceFeed.address };
+  },
+
+  async enact(deploymentManager: DeploymentManager, _, { tBTCPriceFeedAddress }) {
+
+    const trace = deploymentManager.tracer();
+
+    const tBTC = await deploymentManager.existing(
+      'tBTC',
+      TBTC_ADDRESS,
+      'mainnet',
+      'contracts/ERC20.sol:ERC20'
+    );
+    const tBTCPriceFeed = await deploymentManager.existing(
+      'tBTC:priceFeed',
+      tBTCPriceFeedAddress,
+      'mainnet'
+    );
+
+    newPriceFeedAddress = tBTCPriceFeedAddress;
+
+    const {
+      governor,
+      comet,
+      cometAdmin,
+      configurator,
+    } = await deploymentManager.getContracts();
+
+    const tBTCAssetConfig = {
+      asset: tBTC.address,
+      priceFeed: tBTCPriceFeed.address,
+      decimals: await tBTC.decimals(),
+      borrowCollateralFactor: exp(0.76, 18),
+      liquidateCollateralFactor: exp(0.81, 18),
+      liquidationFactor: exp(0.9, 18),
+      supplyCap: exp(285, 18),
+    };
+
+    const mainnetActions = [
+      // 1. Add tBTC as asset
+      {
+        contract: configurator,
+        signature: 'addAsset(address,(address,address,uint8,uint64,uint64,uint64,uint128))',
+        args: [comet.address, tBTCAssetConfig],
+      },
+      // 2. Deploy and upgrade to a new version of Comet
+      {
+        contract: cometAdmin,
+        signature: 'deployAndUpgradeTo(address,address)',
+        args: [configurator.address, comet.address],
+      },
+    ];
+
+    const description = '# Add tBTC as collateral into cUSDCv3 on Mainnet\n\n## Proposal summary\n\nCompound Growth Program [AlphaGrowth] proposes to add tBTC into cUSDCv3 on Ethereum network. This proposal takes the governance steps recommended and necessary to update a Compound III USDC 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](https://www.comp.xyz/t/add-collateral-tbtc-to-eth-market-on-mainnet/5399/12).\n\nFurther detailed information can be found on the corresponding [proposal pull request](https://github.com/compound-finance/comet/pull/935) and [forum discussion](https://www.comp.xyz/t/add-collateral-tbtc-to-eth-market-on-mainnet/5399).\n\n\n## Proposal Actions\n\nThe first action adds tBTC 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 true;
+  },
+
+  async verify(deploymentManager: DeploymentManager) {
+    const { comet, configurator } = await deploymentManager.getContracts();
+
+    const tBTCAssetIndex = Number(await comet.numAssets()) - 1;
+
+    const tBTC = await deploymentManager.existing(
+      'tBTC',
+      TBTC_ADDRESS,
+      'mainnet',
+      'contracts/ERC20.sol:ERC20'
+    );
+    const tBTCAssetConfig = {
+      asset: tBTC.address,
+      priceFeed: newPriceFeedAddress,
+      decimals: await tBTC.decimals(),
+      borrowCollateralFactor: exp(0.76, 18),
+      liquidateCollateralFactor: exp(0.81, 18),
+      liquidationFactor: exp(0.9, 18),
+      supplyCap: exp(285, 18),
+    };
+
+    // 1. Compare tBTC asset config with Comet and Configurator asset info
+    const cometTBTCAssetInfo = await comet.getAssetInfoByAddress(TBTC_ADDRESS);
+    expect(tBTCAssetIndex).to.be.equal(cometTBTCAssetInfo.offset);
+    expect(tBTCAssetConfig.asset).to.be.equal(cometTBTCAssetInfo.asset);
+    expect(tBTCAssetConfig.priceFeed).to.be.equal(cometTBTCAssetInfo.priceFeed);
+    expect(exp(1, tBTCAssetConfig.decimals)).to.be.equal(cometTBTCAssetInfo.scale);
+    expect(tBTCAssetConfig.borrowCollateralFactor).to.be.equal(cometTBTCAssetInfo.borrowCollateralFactor);
+    expect(tBTCAssetConfig.liquidateCollateralFactor).to.be.equal(cometTBTCAssetInfo.liquidateCollateralFactor);
+    expect(tBTCAssetConfig.liquidationFactor).to.be.equal(cometTBTCAssetInfo.liquidationFactor);
+    expect(tBTCAssetConfig.supplyCap).to.be.equal(cometTBTCAssetInfo.supplyCap);
+
+    const configuratorTBTCAssetConfig = (await configurator.getConfiguration(comet.address)).assetConfigs[tBTCAssetIndex];
+    expect(tBTCAssetConfig.asset).to.be.equal(configuratorTBTCAssetConfig.asset);
+    expect(tBTCAssetConfig.priceFeed).to.be.equal(configuratorTBTCAssetConfig.priceFeed);
+    expect(tBTCAssetConfig.decimals).to.be.equal(configuratorTBTCAssetConfig.decimals);
+    expect(tBTCAssetConfig.borrowCollateralFactor).to.be.equal(configuratorTBTCAssetConfig.borrowCollateralFactor);
+    expect(tBTCAssetConfig.liquidateCollateralFactor).to.be.equal(configuratorTBTCAssetConfig.liquidateCollateralFactor);
+    expect(tBTCAssetConfig.liquidationFactor).to.be.equal(configuratorTBTCAssetConfig.liquidationFactor);
+    expect(tBTCAssetConfig.supplyCap).to.be.equal(configuratorTBTCAssetConfig.supplyCap);
+  },
+});

scenario/MainnetBulkerScenario.ts

@@ -52,9 +52,9 @@ scenario(
 
     const toSupplyStEth = exp(.1, 18);
 
-    await context.sourceTokens(toSupplyStEth, new CometAsset(stETH), albert);
+    await context.sourceTokens(toSupplyStEth + 2n, new CometAsset(stETH), albert);
 
-    expect(await stETH.balanceOf(albert.address)).to.be.approximately(toSupplyStEth, 2);
+    expect(await stETH.balanceOf(albert.address)).to.be.greaterThanOrEqual(toSupplyStEth);
 
     // approve bulker as albert
     await stETH.connect(albert.signer).approve(bulker.address, toSupplyStEth);
@@ -68,7 +68,7 @@ scenario(
 
     await albert.invoke({ actions, calldata });
 
-    expect(await stETH.balanceOf(albert.address)).to.be.equal(0n);
+    expect(await stETH.balanceOf(albert.address)).to.be.approximately(0n, 1n);
     expectApproximately(
       (await comet.collateralBalanceOf(albert.address, wstETH.address)).toBigInt(),
       (await wstETH.getWstETHByStETH(toSupplyStEth)).toBigInt(),

scenario/constraints/ProposalConstraint.ts

@@ -62,9 +62,15 @@ export class ProposalConstraint<T extends CometContext> implements StaticConstra
           );
         }
 
-        // temporary hack to skip proposal 329
-        if (proposal.id.eq(329)) {
-          console.log('Skipping proposal 329');
+        // temporary hack to skip proposal 339
+        if (proposal.id.eq(339)) {
+          console.log('Skipping proposal 339');
+          continue;
+        }
+
+        // temporary hack to skip proposal 340
+        if (proposal.id.eq(340)) {
+          console.log('Skipping proposal 340');
           continue;
         }