Deploy Ronin WETH market

[artemwoofsoftware]

No description provided.

[dmitriy-woof-software]

Add WETH market on Ronin.

PR - compound-finance#962
PR local - #123

Request

1. Review the Ronin network
2. Review Compound V3 deployed contracts on the Ronin network
3. Review migration

Assumption

1. Uncomment ENS verification part in migration before running enact migration
2. Ronin WETH should be pushed on-chain ./ONLY after Unichain USDC

Notes

1. During the verification of migration, we faced with the inability to verify the bridge receiver contract. Probably, it was caused by the old hardhat version. To solve the problem, we deployed the bridge receiver manually and all other contracts using the deployment action.
2. We haven’t verified the PauseGuardian (Safe) yet, but you can verify it here. We will try to verify the contract and attach the update in the following comment.
3. Enact migration failed due to the problem with RPC. However, it should not stop auditors from reviewing the migration. The last commit to review.

Audit

1. M1. Resolved.
2. M2. Resolved.
3. M3. Resolved.
4. L1. RoninBridgeReceiver - verified. Guardian - not yet.
5. L2. Resolved.
6. N1. Resolved.
7. N2. Resolved.

Recommendations

The recommendations provided by Gauntlet

№	Name	Value
1	WRON token
2	Collateral Factor	75%
3	Liquidation Factor	80%
4	Liquidation Penalty	12%
6	Supply Cap	3_000_000(e18)
7	Decimals	18
8	Address	0xe514d9deb7966c8be0ca922de8a064264ea6bcd4
9	USDC token
10	Collateral Factor	83%
11	Liquidation Factor	90%
12	Liquidation Penalty	5%
13	Supply Cap	400_00(e6)
14	Decimals	6
15	Address	0x0b7007c13325c48911f73a2dad5fa5dcbf808adc
16	AXS token
17	Collateral Factor	70%
18	Liquidation Factor	75%
19	Liquidation Penalty	20%
20	Supply Cap	300_00(e18)
21	Decimals	18
22	Address	0x97a9107c1793bc407d6f527b77e7fff4d812bece
23	Storefront price factor	70%
24	Target reserves	5_000 WETH
25	WETH Address	0xc99a6a985ed2cac1ef41640596c5a5f9f4e19ef5
26	Annual Borrow Interest Rate Base	0.01
27	Annual Borrow Interest Rate Slope Low	0.0155
28	Borrow Kink	0.9
29	Annual Borrow Interest Rate Slope High	1.26
30	Annual Supply Interest Rate Base	0
31	Annual Supply Interest Rate Slope Low	0.0216
32	Supply Kink	0.9
33	Annual Supply Interest Rate Slope High	1.125

All deployed contracts during deployment/preparation.

№	Contract name	Link to contract
1	RoninBridgeReceiver	Link
2	Timelock	Link
3	ConstantPriceFeed for base asset (WETH)	Link
4	ReverseMultiplicativePriceFeed RON/ETH	Link
5	ReverseMultiplicativePriceFeed AXS/ETH	Link
6	ReverseMultiplicativePriceFeed USDC/ETH	Link
7	CometProxyAdmin	Link
8	AssetListFactory	Link
9	CometExtAssetList	Link
10	CometFactoryWithExtendedAssetList	Link
11	TransparentUpgradeableProxy	Link
12	Configurator	Link
13	ConfiguratorProxy	Link
14	CometRewards	Link
15	BaseBulker	Link
16	PauseGuardian	Link

Actions

№	Action name	Link	Status
1	Run Slither	Link	Fail
2	Run Unit Tests	Link	Success
3	Run Forge Tests	Link	Success
4	Run ESLint	Link	Success
5	Run Semgremp	Link	Success
6	Run Contact Linter	Link	Success
7	Run Tests With Gas Profiler	Link	Success
8	Run Scenarios	Link	Success
9	Run Deploy	Link	Success
10	Run Enact impersonate	Link	Fail (problem with RPC)
11	Run Enact impersonate	Link	Run by delegator

Artifacts

№	Name	Value
1	Migration name	1689892563_configurate_and_ens
2	Branch name	deploy-ronin-weth-market
3	Network	ronin
4	Deployment	weth

Price feeds

№	Name	Address	Provider	Route
1	Price feed for asset RON/USD	0x0B6074F21488B95945989E513EFEA070096d931D	Chainlink	RON/USD
2	Price feed for asset USDC/USD	0x88f415c12d45d4C6DC018553BBE472A4558ff3f8	Chainlink	USDC/USD
3	Price feed for asset AXS/USD	0x81DfC7A054C8F60497e47579c5A5cEB37bc047e8	Chainlink	AXS/USD
4	Price feed for asset ETH/USD	0x662Fdb0E7D95d89CD3458E4A3506296E48BB1F44	Chainlink	ETH/USD

Description

# Initialize cWETHv3 on Ronin\n\n

## Proposal summary\n\n

Compound Growth Program [AlphaGrowth] proposes deployment of Compound III to Ronin network. This proposal takes the governance steps recommended and necessary to initialize a Compound III WETH market on Ronin; upon execution, cWETHv3 will be ready for use. 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/deploy-compound-iii-on-ronin/6128/8).\n\n

Further detailed information can be found on the corresponding [deployment pull request](#123), [deploy market GitHub action run](https://github.com/woof-software/comet/actions/runs/13578786406) and [forum discussion](https://www.comp.xyz/t/deploy-compound-iii-on-ronin/6128).\n\n\n

## Rewards\n\n

Gauntlet provided recommendations for COMP rewards, however, the COMP token is not whitelisted on CCIP. When the COMP token is whitelisted, we will create a proposal to bridge COMP tokens and set up speeds.\n\n

## Proposal Actions\n\n

The first proposal action bridges ETH seed reserves to the comet using [roninl1NativeBridge](https://etherscan.io/address/0x64192819Ac13Ef72bF6b5AE239AC672B43a9AF08). Bridged ETH will be converted to WETH automatically.\n\n

The second proposal action sets the Comet configuration and deploys a new Comet implementation on Ronin. This sends the encoded `setConfiguration` and `deployAndUpgradeTo` calls across the [l1CCIPRouter](https://etherscan.io/address/0x80226fc0Ee2b096224EeAc085Bb9a8cba1146f7D) to the bridge receiver on Ronin. \n\n

The third action updates the ENS TXT record `v3-official-markets` on `v3-additional-grants.compound-community-licenses.eth`, updating the official markets JSON to include the new Ronin cWETHv3 market.

[dmitriy-woof-software]

Add WETH market on Ronin.

PR - compound-finance#962
PR local - #123

Recommendations

The recommendations provided by Gauntlet

№	Name	Value
1	WRON token
2	Collateral Factor	75%
3	Liquidation Factor	80%
4	Liquidation Penalty	12%
6	Supply Cap	3_000_000(e18)
7	Decimals	18
8	Address	0xe514d9deb7966c8be0ca922de8a064264ea6bcd4
9	USDC token
10	Collateral Factor	83%
11	Liquidation Factor	90%
12	Liquidation Penalty	5%
13	Supply Cap	400_00(e6)
14	Decimals	6
15	Address	0x0b7007c13325c48911f73a2dad5fa5dcbf808adc
16	AXS token
17	Collateral Factor	70%
18	Liquidation Factor	75%
19	Liquidation Penalty	20%
20	Supply Cap	300_00(e18)
21	Decimals	18
22	Address	0x97a9107c1793bc407d6f527b77e7fff4d812bece
23	Storefront price factor	70%
24	Target reserves	5_000 WETH
25	WETH Address	0xc99a6a985ed2cac1ef41640596c5a5f9f4e19ef5
26	Annual Borrow Interest Rate Base	0.01
27	Annual Borrow Interest Rate Slope Low	0.0155
28	Borrow Kink	0.9
29	Annual Borrow Interest Rate Slope High	1.26
30	Annual Supply Interest Rate Base	0
31	Annual Supply Interest Rate Slope Low	0.0216
32	Supply Kink	0.9
33	Annual Supply Interest Rate Slope High	1.125

All deployed contracts during deployment/preparation.

№	Contract name	Contract address	Link to contract
1	RoninBridgeReceiver	0x2c7EfA766338D33B9192dB1fB5D170Bdc03ef3F9	Link
2	Timelock	0xBbb0Ebd903fafbb8fFF58B922fD0CD85E251ac2c	Link
3	ConstantPriceFeed for base asset (WETH)	0x8AC2b57d15c84755A3333aD68025d2496AE3BeBD	Link
4	ReverseMultiplicativePriceFeed RON/ETH	0x692e4736f891CD940bA559d487845117e2c6b48D	Link
5	ReverseMultiplicativePriceFeed AXS/ETH	0xB2237b8F0690f7F8c7D03FE70da62213714F8B5D	Link
6	ReverseMultiplicativePriceFeed USDC/ETH	0xC41CdfAE648A76EF471160F62bf38a03Ad5B67DF	Link
7	CometProxyAdmin	0xfa64A82a3d13D4c05d5133E53b2EbB8A0FA9c3F6	Link
8	AssetListFactory	0x84FC63De5d127e9C074c1dA6591ee8fA70a60De1	Link
9	CometExtAssetList	0x2Bd112804a727ef022549B2d305422BF55651703	Link
10	CometFactoryWithExtendedAssetList	0x4DF9E0f8e94a7A8A9aEa6010CD9d341F8Ecfe4c6	Link
11	CometWithExtendedAssetList	0x0e023713923fA9E471c30F23ae6308F58Fb37371	Link
12	TransparentUpgradeableProxy	0x4006eD4097Ee51c09A04c3B0951D28CCf19e6DFE	Link
13	Configurator	0xaE0CCa27C15A534BAE106fC9957338549F82e81d	Link
14	ConfiguratorProxy	0x966c72F456FC248D458784EF3E0b6d042be115F2	Link
15	CometRewards	0x31CdEe8609Bc15fD33cc525f101B70a81b2B1E59	Link
16	BaseBulker	0x840281FaD56DD88afba052B7F18Be2A65796Ecc6	Link
17	PauseGuardian	0x69daaf2fb26cb138d33466808de917d571151a68	Link

Actions

№	Action name	Link	Status
1	Run Slither	Link	Fail
2	Run Unit Tests	Link	Success
3	Run Forge Tests	Link	Success
4	Run ESLint	Link	Success
5	Run Semgremp	Link	Success
6	Run Contact Linter	Link	Success
7	Run Tests With Gas Profiler	Link	Success
8	Run Scenarios	Link	Success
9	Run Deploy	Link	Success
10	Run Enact impersonate	Link	Success
11	Run Enact impersonate	Link	Run by delegator

Artifacts

№	Name	Value
1	Migration name	1689892563_configurate_and_ens
2	Branch name	deploy-ronin-weth-market
3	Network	ronin
4	Deployment	weth

Price feeds

№	Name	Address	Provider	Route
1	Price feed for asset RON/ETH	0x692e4736f891CD940bA559d487845117e2c6b48D	Chainlink	RON/ETH
2	Price feed for asset AXS/ETH	0xB2237b8F0690f7F8c7D03FE70da62213714F8B5D	Chainlink	AXS/ETH
3	AXS/ETH	0xB2237b8F0690f7F8c7D03FE70da62213714F8B5D	Chainlink	AXS/ETH
4	Price feed for asset ETH/ETH	0x8AC2b57d15c84755A3333aD68025d2496AE3BeBD	Chainlink	Constant price feed for ETH

Description

# Initialize cWETHv3 on Ronin\n\n

## Proposal summary\n\n

Compound Growth Program [AlphaGrowth] proposes deployment of Compound III to Ronin network. This proposal takes the governance steps recommended and necessary to initialize a Compound III WETH market on Ronin; upon execution, cWETHv3 will be ready for use. 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/deploy-compound-iii-on-ronin/6128/8).\\n\\n

Further detailed information can be found on the corresponding [deployment pull request](compound-finance#962), [deploy market GitHub action run](https://github.com/woof-software/comet/actions/runs/13839778262) and [forum discussion](https://www.comp.xyz/t/deploy-compound-iii-on-ronin/6128).\\n\\n\\n

## Rewards\n\n

Gauntlet provided recommendations for COMP rewards, however, the COMP token is not whitelisted on CCIP. When the COMP token is whitelisted, we will create a proposal to bridge COMP tokens and set up speeds.\n\n

## Proposal Actions\n\n

The first proposal action bridges ETH seed reserves to the comet using [roninl1NativeBridge](https://etherscan.io/address/0x64192819Ac13Ef72bF6b5AE239AC672B43a9AF08). Bridged ETH will be converted to WETH automatically.\n\n

The second proposal action sets the Comet configuration and deploys a new Comet implementation on Ronin. This sends the encoded `setConfiguration` and `deployAndUpgradeTo` calls across the [l1CCIPRouter](https://etherscan.io/address/0x80226fc0Ee2b096224EeAc085Bb9a8cba1146f7D) to the bridge receiver on Ronin. \n\n

The third action updates the ENS TXT record `v3-official-markets` on `v3-additional-grants.compound-community-licenses.eth`, updating the official markets JSON to include the new Ronin cWETHv3 market.