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Add ezETH as collateral to WETH market on Optimism #54

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Original file line number Diff line number Diff line change
@@ -0,0 +1,150 @@
import { expect } from 'chai';
import { DeploymentManager } from '../../../../plugins/deployment_manager/DeploymentManager';
import { migration } from '../../../../plugins/deployment_manager/Migration';
import { calldata, exp, proposal } from '../../../../src/deploy';
import { utils } from 'ethers';

const EZETH_ADDRESS = '0x2416092f143378750bb29b79eD961ab195CcEea5';
const EZETH_ETH_PRICE_FEED_ADDRESS = '0xFAD40C0e2BeF93c6a822015863045CAAeAAde4d3';
let newPriceFeedAddress: string;

export default migration('1723475862_add_ezeth_as_collateral', {
async prepare(deploymentManager: DeploymentManager) {
const _ezETHScalingPriceFeed = await deploymentManager.deploy(
'ezETH:priceFeed',
'pricefeeds/ScalingPriceFeed.sol',
[
EZETH_ETH_PRICE_FEED_ADDRESS, // ezETH / ETH price feed
8 // decimals
]
);
return { ezETHPriceFeedAddress: _ezETHScalingPriceFeed.address };
},

enact: async (
deploymentManager: DeploymentManager,
govDeploymentManager: DeploymentManager,
{ ezETHPriceFeedAddress }
) => {
const trace = deploymentManager.tracer();

const ezETH = await deploymentManager.existing(
'ezETH',
EZETH_ADDRESS,
'optimism',
'contracts/ERC20.sol:ERC20'
);
const ezETHPriceFeed = await deploymentManager.existing(
'ezETH:priceFeed',
ezETHPriceFeedAddress,
'optimism'
);

const {
bridgeReceiver,
comet,
cometAdmin,
configurator,
} = await deploymentManager.getContracts();

const { governor, opL1CrossDomainMessenger } = await govDeploymentManager.getContracts();

const newAssetConfig = {
asset: ezETH.address,
priceFeed: ezETHPriceFeed.address,
decimals: await ezETH.decimals(),
borrowCollateralFactor: exp(0.88, 18),
liquidateCollateralFactor: exp(0.91, 18),
liquidationFactor: exp(0.94, 18),
supplyCap: exp(400, 18),
};

newPriceFeedAddress = ezETHPriceFeed.address;

const addAssetCalldata = await calldata(
configurator.populateTransaction.addAsset(comet.address, newAssetConfig)
);
const deployAndUpgradeToCalldata = utils.defaultAbiCoder.encode(
['address', 'address'],
[configurator.address, comet.address]
);

const l2ProposalData = 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 mainnetActions = [
// Send the proposal to the L2 bridge
{
contract: opL1CrossDomainMessenger,
signature: 'sendMessage(address,bytes,uint32)',
args: [bridgeReceiver.address, l2ProposalData, 3_000_000]
},
];

const description = '# Add ezETH as collateral into cWETHv3 on Optimism\n\n## Proposal summary\n\nCompound Growth Program [AlphaGrowth] proposes to add ezETH into cWETHv3 on Optimism network. This proposal takes the governance steps recommended and necessary to update a Compound III WETH market on Optimism. 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/gauntlet-wsteth-and-ezeth-asset-listing/5404/11).\n\nFurther detailed information can be found on the corresponding [proposal pull request](https://github.com/compound-finance/comet/pull/905) and [forum discussion](https://www.comp.xyz/t/gauntlet-wsteth-and-ezeth-asset-listing/5404).\n\n\n## Proposal Actions\n\nThe first proposal action adds ezETH to the WETH Comet on Optimism. This sends the encoded `addAsset` and `deployAndUpgradeTo` calls across the bridge to the governance receiver on Optimism.';
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(deploymentManager: DeploymentManager): Promise<boolean> {
return true;
},

async verify(deploymentManager: DeploymentManager) {
const { comet, configurator } = await deploymentManager.getContracts();

const ezETHAssetIndex = Number(await comet.numAssets()) - 1;

const ezETHAssetConfig = {
asset: EZETH_ADDRESS,
priceFeed: newPriceFeedAddress,
decimals: 18,
borrowCollateralFactor: exp(0.88, 18),
liquidateCollateralFactor: exp(0.91, 18),
liquidationFactor: exp(0.94, 18),
supplyCap: exp(400, 18),
};

// 1. Compare proposed asset config with Comet asset info
const ezETHAssetInfo = await comet.getAssetInfoByAddress(
EZETH_ADDRESS
);
expect(ezETHAssetIndex).to.be.equal(ezETHAssetInfo.offset);
expect(ezETHAssetConfig.asset).to.be.equal(ezETHAssetInfo.asset);
expect(ezETHAssetConfig.priceFeed).to.be.equal(ezETHAssetInfo.priceFeed);
expect(exp(1, ezETHAssetConfig.decimals)).to.be.equal(ezETHAssetInfo.scale);
expect(ezETHAssetConfig.borrowCollateralFactor).to.be.equal(ezETHAssetInfo.borrowCollateralFactor);
expect(ezETHAssetConfig.liquidateCollateralFactor).to.be.equal(ezETHAssetInfo.liquidateCollateralFactor);
expect(ezETHAssetConfig.liquidationFactor).to.be.equal(ezETHAssetInfo.liquidationFactor);
expect(ezETHAssetConfig.supplyCap).to.be.equal(ezETHAssetInfo.supplyCap);

// 2. Compare proposed asset config with Configurator asset config
const configuratorEzETHAssetConfig = (await configurator.getConfiguration(comet.address)).assetConfigs[ezETHAssetIndex];
expect(ezETHAssetConfig.asset).to.be.equal(configuratorEzETHAssetConfig.asset);
expect(ezETHAssetConfig.priceFeed).to.be.equal(configuratorEzETHAssetConfig.priceFeed);
expect(ezETHAssetConfig.decimals).to.be.equal(configuratorEzETHAssetConfig.decimals);
expect(ezETHAssetConfig.borrowCollateralFactor).to.be.equal(configuratorEzETHAssetConfig.borrowCollateralFactor);
expect(ezETHAssetConfig.liquidateCollateralFactor).to.be.equal(configuratorEzETHAssetConfig.liquidateCollateralFactor);
expect(ezETHAssetConfig.liquidationFactor).to.be.equal(configuratorEzETHAssetConfig.liquidationFactor);
expect(ezETHAssetConfig.supplyCap).to.be.equal(configuratorEzETHAssetConfig.supplyCap);
},
});
9 changes: 9 additions & 0 deletions deployments/optimism/weth/relations.ts
Original file line number Diff line number Diff line change
Expand Up @@ -43,6 +43,15 @@ export default {
}
},

TransparentUpgradeableProxy: {
artifact: 'contracts/ERC20.sol:ERC20',
delegates: {
field: {
slot: '0x360894a13ba1a3210667c828492db98dca3e2076cc3735a920a3ca505d382bbc'
}
}
},

// WBTC
WBTC: {
artifact: 'contracts/ERC20.sol:ERC20'
Expand Down
8 changes: 1 addition & 7 deletions scenario/constraints/ProposalConstraint.ts
Original file line number Diff line number Diff line change
Expand Up @@ -62,12 +62,6 @@ export class ProposalConstraint<T extends CometContext> implements StaticConstra
);
}

// temporary hack to skip proposal 281
if (proposal.id.eq(281)) {
console.log('Skipping proposal 281');
continue;
}

try {
// Execute the proposal
debug(`${label} Processing pending proposal ${proposal.id}`);
Expand Down Expand Up @@ -126,4 +120,4 @@ export class ProposalConstraint<T extends CometContext> implements StaticConstra
async check() {
return; // XXX
}
}
}
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