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Process.md

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Compound Asset Listing - Process

1. Initialization:

  • New market proposer reviews the Checklist and provide as much as info they can (some fields are required) in a forum post titled "Add market: {ASSET SYMBOL}" under "New Market" category in Compound forum

2. Community check:

  • Community member(s) handles back and forth to review that the info provided is correct and complete where required.

3. [WIP] Risk analysis:

  • The community checks the market risks of the asset based on available data, potentially using a scoring system that would need to be created.

  • Gauntlet is currently working on a risk assessment framework to be used at this stage as well.

4. Tooling and simulations:

  • Community member(s) run eth-saddle or any tool to check if the implemented contract matches the base implementation with the expected parameters.

  • Community member(s) execute available test suite and simulations.

5. Contracts deploy:

  • Promoter is asked to deploy the needed contracts (CErc20Delegator, CErc20Delegate, optionally a new UniswapAnchoredView) and provide their deployed address in the same forum post. Eventually contracts might need to be deployed on testnets if requested/needed.

  • At this point it should be clear wether the current oracle supports the new asset or if a new oracle must be deployed. If the latter is true, the proposal must come with a _setPriceOracle call to change the oracle to the new version.

  • Promoter will provide verified contracts deployed and a diff will be evaluated to exclude eventual unwanted/unexpected codebase changes.

6. Proposal's draft:

  • A formal proposal is drafted. It must include _supportMarket and _setCollateralFactor at least.

7. [WIP] Audit (optional):

  • Proposal is reviewed by security auditors if the community asks for it. This can be done by OpenZeppelin or another third-party hired by the proposal author.

8. Proposal submission:

  • Proposal is submitted for voting.

  • If proposal fails, forum post is updated with results and follow up discussions can happen there.

9. Post-Launch Parameter Update:

  • After launch, increasing collateral factor to a safe level and setting the reserve factor in line with other assets.

  • Borrow limits can be optionally set.