Moonwell MIP-B09 Proposal Diff Report
This document reports the impact of the execution of MIP-B09 proposal on Moonwell Base.
All diffs detected by the simulation are highlighted in orange
The simulation executes the proposal on chain on a local fork. The state of the protocol is compared before and after the proposal is executed.
Proposal calldata
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Execution results
MIP-B09 was successfully executed on a Hardhat fork at block #6544306 (Nov-13-2023 12:19:19 PM +UTC)
✅ No regression detected on already existing markets (USDC, USDbC, DAI, ETH, cbETH, wstETH)
✅ No accounts are liquidatable
✅ Parameters are same as specified in proposal
✅ The proposal passes sanity check tests
Original execution report (including raw contract values):
Global parameters
mUSDC
WELL Reward Stream
USDC Reward Stream
mUSDC
WELL Reward Stream
USDC Reward Stream
mWETH
WELL Reward Stream
USDC Reward Stream
mcbETH
WELL Reward Stream
USDC Reward Stream
mwstETH
WELL Reward Stream
USDC Reward Stream
mDAI
WELL Reward Stream
USDC Reward Stream
Liquidatable accounts
The table below lists accounts that will be at risk of liquidation once the proposal is passed.
Total liquidatable accounts: 0
Sanity check tests
4 unit tests expectedly failed because wstETH supply and borrow caps are currently set very low.
4 tests failed:
1) wstETH
borrow cap
X should be within sane range
2) wstETH
borrow cap
X should be less than underlying token total supply
3) wstETH
supply cap
X should be within sane range
4) wstETH
supply cap
X should be less than underlying token total supply
MIP-B06 sanity check tests
Global governance parameters
close factor
✔ should be within sane range
USDC
borrow cap
✔ should be within sane range
✔ should not be increased by more than 4x
✔ should not be decreased by more than 0.25x
✔ should be less than supply cap
✔ should be less than underlying token total supply (132ms)
✔ user cannot borrow more than borrow cap (10984ms)
supply cap
✔ should be within sane range
✔ should not be increased by more than 4x
✔ should not be decreased by more than 4x
✔ should be less than underlying token total supply (75ms)
✔ user cannot deposit more than supply cap (1373ms)
interest rate model
✔ kink should be within sane range
✔ base supply rate should be within sane range
✔ base borrow rate should be within sane range
✔ max supply rate should be within sane range
✔ max borrow rate should be within sane range
collateral factor
✔ should not drastically change
✔ should be within sane range
✔ should make no account liquidatable (60424ms)
✔ should leave enough buffer for liquidation incentive
USDbC
borrow cap
✔ should be within sane range
✔ should not be increased by more than 4x
✔ should not be decreased by more than 0.25x
✔ should be less than supply cap
✔ should be less than underlying token total supply (124ms)
✔ user cannot borrow more than borrow cap (10578ms)
supply cap
✔ should be within sane range
✔ should not be increased by more than 4x
✔ should not be decreased by more than 4x
✔ should be less than underlying token total supply (76ms)
✔ user cannot deposit more than supply cap (1357ms)
interest rate model
✔ kink should be within sane range
✔ base supply rate should be within sane range
✔ base borrow rate should be within sane range
✔ max supply rate should be within sane range
✔ max borrow rate should be within sane range
collateral factor
✔ should not drastically change
✔ should be within sane range
✔ should make no account liquidatable (56181ms)
✔ should leave enough buffer for liquidation incentive
ETH
borrow cap
✔ should be within sane range
✔ should not be increased by more than 4x
✔ should not be decreased by more than 0.25x
✔ should be less than supply cap
✔ should be less than underlying token total supply (114ms)
✔ user cannot borrow more than borrow cap
supply cap
✔ should be within sane range
✔ should not be increased by more than 4x
✔ should not be decreased by more than 4x
✔ should be less than underlying token total supply (74ms)
✔ user cannot deposit more than supply cap (1347ms)
interest rate model
✔ kink should be within sane range
✔ base supply rate should be within sane range
✔ base borrow rate should be within sane range
✔ max supply rate should be within sane range
✔ max borrow rate should be within sane range
collateral factor
✔ should not drastically change
✔ should be within sane range
✔ should make no account liquidatable (67284ms)
✔ should leave enough buffer for liquidation incentive
cbETH
borrow cap
✔ should be within sane range
✔ should not be increased by more than 4x
✔ should not be decreased by more than 0.25x
✔ should be less than supply cap
✔ should be less than underlying token total supply (119ms)
✔ user cannot borrow more than borrow cap
supply cap
✔ should be within sane range
✔ should not be increased by more than 4x
✔ should not be decreased by more than 4x
✔ should be less than underlying token total supply (75ms)
✔ user cannot deposit more than supply cap (1381ms)
interest rate model
✔ kink should be within sane range
✔ base supply rate should be within sane range
✔ base borrow rate should be within sane range
✔ max supply rate should be within sane range
✔ max borrow rate should be within sane range
collateral factor
✔ should not drastically change
✔ should be within sane range
✔ should make no account liquidatable (10082ms)
✔ should leave enough buffer for liquidation incentive
DAI
borrow cap
✔ should be within sane range
✔ should not be increased by more than 4x
✔ should not be decreased by more than 0.25x
✔ should be less than supply cap
✔ should be less than underlying token total supply (129ms)
✔ user cannot borrow more than borrow cap
supply cap
✔ should be within sane range
✔ should not be increased by more than 4x
✔ should not be decreased by more than 4x
✔ should be less than underlying token total supply (75ms)
✔ user cannot deposit more than supply cap (1345ms)
interest rate model
✔ kink should be within sane range
✔ base supply rate should be within sane range
✔ base borrow rate should be within sane range
✔ max supply rate should be within sane range
✔ max borrow rate should be within sane range
collateral factor
✔ should not drastically change
✔ should be within sane range
✔ should make no account liquidatable (17280ms)
✔ should leave enough buffer for liquidation incentive
wstETH
borrow cap
X should be within sane range
✔ should not be increased by more than 4x
✔ should not be decreased by more than 0.25x
✔ should be less than supply cap
X should be less than underlying token total supply
✔ user cannot borrow more than borrow cap (10829ms)
supply cap
X should be within sane range
✔ should not be increased by more than 4x
✔ should not be decreased by more than 4x
X should be less than underlying token total supply
✔ user cannot deposit more than supply cap (1359ms)
interest rate model
✔ kink should be within sane range
✔ base supply rate should be within sane range
✔ base borrow rate should be within sane range
✔ max supply rate should be within sane range
✔ max borrow rate should be within sane range
collateral factor
✔ should not drastically change
✔ should be within sane range
✔ should make no account liquidatable (17280ms)
✔ should leave enough buffer for liquidation incentive
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