Add cbBTC as collateral to USDC market on Mainnet (#921)

Co-authored-by: GitHub Actions Bot <>

deployments/mainnet/usdc/migrations/1726215532_add_cbbtc_as_collateral.ts

@@ -0,0 +1,125 @@
+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 CBBTC_ADDRESS = '0xcbB7C0000aB88B473b1f5aFd9ef808440eed33Bf';
+const CBBTC_USD_PRICE_FEED = '0x2665701293fCbEB223D11A08D826563EDcCE423A';
+
+let priceFeedAddress: string;
+
+export default migration('1726215532_add_cbbtc_as_collateral', {
+  async prepare(deploymentManager: DeploymentManager) {
+    const _cbBTCPriceFeed = await deploymentManager.deploy(
+      'cbBTC:priceFeed',
+      'pricefeeds/ScalingPriceFeed.sol',
+      [
+        CBBTC_USD_PRICE_FEED, // cbBTC / USD price feed
+        8                     // decimals
+      ]
+    );
+    return { cbBTCPriceFeedAddress: _cbBTCPriceFeed.address };
+  },
+
+  enact: async (deploymentManager: DeploymentManager, _, { cbBTCPriceFeedAddress }) => {
+    const trace = deploymentManager.tracer();
+
+    const cbBTC = await deploymentManager.existing(
+      'cbBTC',
+      CBBTC_ADDRESS,
+      'mainnet',
+      'contracts/ERC20.sol:ERC20'
+    );
+    const cbBTCPriceFeed = await deploymentManager.existing(
+      'cbBTC:priceFeed',
+      cbBTCPriceFeedAddress,
+      'mainnet'
+    );
+    priceFeedAddress = cbBTCPriceFeed.address;
+    const {
+      governor,
+      comet,
+      cometAdmin,
+      configurator
+    } = await deploymentManager.getContracts();
+
+    const newAssetConfig = {
+      asset: cbBTC.address,
+      priceFeed: cbBTCPriceFeed.address,
+      decimals: await cbBTC.decimals(),
+      borrowCollateralFactor: exp(0.8, 18),
+      liquidateCollateralFactor: exp(0.85, 18),
+      liquidationFactor: exp(0.95, 18),
+      supplyCap: exp(93, 8),
+    };
+
+    const mainnetActions = [
+      // 1. Add cbBTC as asset
+      {
+        contract: configurator,
+        signature: 'addAsset(address,(address,address,uint8,uint64,uint64,uint64,uint128))',
+        args: [comet.address, newAssetConfig],
+      },
+      // 2. Deploy and upgrade to a new version of Comet
+      {
+        contract: cometAdmin,
+        signature: 'deployAndUpgradeTo(address,address)',
+        args: [configurator.address, comet.address],
+      },
+    ];
+
+    const description = '# Add cbBTC as collateral into cUSDCv3 on Ethereum\n\n## Proposal summary\n\nCompound Growth Program [AlphaGrowth] proposes to add cbBTC 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 off of the [recommendations from Gauntlet](https://www.comp.xyz/t/add-collateral-cbbtc-to-weth-market-on-base-and-mainnet/5689/2).\n\nFurther detailed information can be found on the corresponding [proposal pull request](https://github.com/compound-finance/comet/pull/921) and [forum discussion](https://www.comp.xyz/t/add-collateral-cbbtc-to-weth-market-on-base-and-mainnet/5689).\n\n\n## Proposal Actions\n\nThe first proposal action adds cbBTC 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 cbBTCAssetIndex = Number(await comet.numAssets()) - 1;
+
+    const cbBTCAssetConfig = {
+      asset: CBBTC_ADDRESS,
+      priceFeed: priceFeedAddress,
+      decimals: 8,
+      borrowCollateralFactor: exp(0.8, 18),
+      liquidateCollateralFactor: exp(0.85, 18),
+      liquidationFactor: exp(0.95, 18),
+      supplyCap: exp(93, 8),
+    };
+
+    // 1. Compare proposed asset config with Comet asset info
+    const cbBTCAssetInfo = await comet.getAssetInfoByAddress(CBBTC_ADDRESS);
+    expect(cbBTCAssetIndex).to.be.equal(cbBTCAssetInfo.offset);
+    expect(cbBTCAssetConfig.asset).to.be.equal(cbBTCAssetInfo.asset);
+    expect(cbBTCAssetConfig.priceFeed).to.be.equal(cbBTCAssetInfo.priceFeed);
+    expect(exp(1, cbBTCAssetConfig.decimals)).to.be.equal(cbBTCAssetInfo.scale);
+    expect(cbBTCAssetConfig.borrowCollateralFactor).to.be.equal(cbBTCAssetInfo.borrowCollateralFactor);
+    expect(cbBTCAssetConfig.liquidateCollateralFactor).to.be.equal(cbBTCAssetInfo.liquidateCollateralFactor);
+    expect(cbBTCAssetConfig.liquidationFactor).to.be.equal(cbBTCAssetInfo.liquidationFactor);
+    expect(cbBTCAssetConfig.supplyCap).to.be.equal(cbBTCAssetInfo.supplyCap);
+
+    // 2. Compare proposed asset config with Configurator asset config
+    const configuratorcbBTCAssetConfig = (await configurator.getConfiguration(comet.address)).assetConfigs[cbBTCAssetIndex];
+    expect(cbBTCAssetConfig.asset).to.be.equal(configuratorcbBTCAssetConfig.asset);
+    expect(cbBTCAssetConfig.priceFeed).to.be.equal(configuratorcbBTCAssetConfig.priceFeed);
+    expect(cbBTCAssetConfig.decimals).to.be.equal(configuratorcbBTCAssetConfig.decimals);
+    expect(cbBTCAssetConfig.borrowCollateralFactor).to.be.equal(configuratorcbBTCAssetConfig.borrowCollateralFactor);
+    expect(cbBTCAssetConfig.liquidateCollateralFactor).to.be.equal(configuratorcbBTCAssetConfig.liquidateCollateralFactor);
+    expect(cbBTCAssetConfig.liquidationFactor).to.be.equal(configuratorcbBTCAssetConfig.liquidationFactor);
+    expect(cbBTCAssetConfig.supplyCap).to.be.equal(configuratorcbBTCAssetConfig.supplyCap);
+  },
+});