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Compound Finance

Compound Mega Case Study

published on Feb 18, 2025

Compound Mega Case Study

Compound is one of the largest lending borrowing protocols on the entire crypto market. Compound was launched in September 2018 and peaked with $12Bn TVL.

$854M

Acquired TVL

14

Markets deployed

43

Assets added

WOOF! weekly updates changes

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Feb 19, 2025
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[WOOF!] General Compound weekly report | Feb 10 - Feb 14, 2025

Compound Migrator

Done 10-14 Feb

  1. Worked on AAVEv3 free collateral logic connection.
  2. Prepared the config for the data collection on Spark.
  3. Checked all the formulas and collected them in the document for QA.
  4. Started working on mobile and responsive layout.
  5. Resolved blockers on Aave and Spark in some scenarios on all networks except Ethereum.
  6. Run Fork test scenarios for AAVEv3 and Spark.
  7. Provided deployment for the networks left for AAVEv3, Spark.

To be done 17-21 Feb

  1. To complete AAVEv3 free collateral logic connection.
  2. To proceed with Сross-isolated logic implementation on Spark.
  3. To proceed with Free Collaterals logic implementation on Spark.
  4. Started Morpho logic Connection.
  5. To proceed with mobile and responsive layout.
  6. Run Fork test scenarios for Morpho.
  7. Unit tests - Full coverage with unit tests for Morpho, Spark, and AAVE V3.
  8. Mini contract to process the route with the intermediate tokens (Connectors).
  9. Scripts deployment: provide deployment for the networks left for Morpho.

Compound Frontend

Done 10-14 Feb

  1. Collaterals’ supply capitalization limit increasing voting feature.
  2. Updated the design and frontend Layout.
  3. Deployed the contract for left networks Optimism, Arbitrum, Base, and Polygon.
  4. Started applying the feature to the next networks: Optimism, Arbitrum, Base, and Polygon.

To be done 17-21 Feb

  1. Collaterals’ supply capitalization limit increasing voting feature.
  2. To test the feature on Mainnet.
  3. To test the feature on: Optimism, Arbitrum, Base, and Polygon.
  4. Common Bugfix.
  5. $BOBBY - Frontend for the automated yield optimizer vault.
  6. Time estimation.
  7. Design.
  8. To start with the Layout.

Sandbox

Done 10-14 Feb

  1. Deployed the test network environment.
  2. Prepare Oracle mock to influence the position price.
  3. Worked on wireframes.
  4. Continuing the development of updated comet
  5. Continuing the development of migrator

To be done 17-21 Feb

  1. Provide liquidator testing.
  2. Update WBS and time estimate.
  3. Describe interfaces for interaction between the contracts.
  4. Describe tasks for each contract.
  5. Config Controller - Finish changing collateral asset parameters.
  6. Sandbox Controller - finish whitelist base asset.
  7. Prepare wireframes.

Compound Grant

Done 10-14 Jan

  1. [network] Uni-Chain deployment [mainnet]
  2. [network] Ronin development [testnet]
  3. 24 collaterals - new governance fixes

To be done 17-21 Feb

  1. [network] Sonyc deployment
  2. [network] Ronin development [mainnet]
  3. [collateral] weETH on USDS Mainnet
  4. [collateral] weETH on USDT Mainnet
  5. [collateral] weETH on USDC Mainnet

Backlog

  1. [collateral] SKY on USDC Mainnet
  2. [collateral] SKY on USDS Mainnet
  3. [collateral] SKY on USDS Mainnet
  4. [collateral] FBTC on USDC Mainnet
  5. [collateral] tBTC on USDT Arbitrum
  6. [collateral] tBTC on USDS Arbitrum
Feb 10, 2025
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[WOOF!] Compound Weekly Report | Feb 3 - Feb 7, 2025

Compound Migrator

Done 03-07 Feb

Front

  1. Completed AAVEv3 cross-isolated margin migration logic with the functionality of swap switching to the base token).
  2. Started AAVEv3 free collateral logic connection.

Solidity

  1. Applied edits after the internal review and provided code refactoring.
  2. Fix conflicts in current tests regarding code edits.
  3. Set up Fork tests for AAVEv3 and Spark.
  4. New testing scenarios have been added.

Design

  1. Started needed changes implementation (desktop and mobile).

To be done 10-14 Feb

Smart Contracts

  1. Resolv blockers on Aave and Spark in some scenarios on all networks except Ethereum.
  2. Run Fork test scenarios for AAVEv3 and Spark.
  3. Set up Fork tests for Morpho.
  4. Run Fork test scenarios for Morpho.
  5. Unit tests - Basic coverage with unit tests for Morpho.
  6. Unit tests - Full coverage with unit tests for Morpho, Spark, and AAVE V3.

Backlog

  1. Scripts deployment
  2. Provide deployment for the networks left for AAVEv3, Spark.
  3. Provide deployment for the networks left for Spark and Morpho.
  4. Documentation - Create documentation for the front end on how to integrate Morpho.
  5. To finish Natspec.
  6. Mini contract to process the route with the intermediate tokens (Connectors).

Front

  1. Proceed with AAVEv3 free collateral logic connection.
  2. Start Free Collaterals logic implementation on Spark.
  3. To implement UI changes.
  4. To check all Formulas and to collect them into the document for QA.
  5. To Start Morpho Connection.
  6. Bugfix.

Design

  1. To complete changes implementation (desktop and mobile).

Compound Frontend

Done 03-07 Feb

Dune

  1. To Complete the Dune Dashboard creation for voting for collaterals’ supply capitalization limit increasing on the Mainnet.
  2. To collect one last vote per user per collateral for each market since the recent supply capitalization change to define his collateral has more votes.
  3. To deploy the contract for left networks Optimism, Arbitrum, Base, and Polygon.
  4. Started applying the feature to the next networks: Optimism, Arbitrum, Base, and Polygon.

Design

Designed settings to hide positions with <$1 balance on the Dashboard (desktop and mobile).

To be done 10-14 Feb

Dune

  1. To test the feature for increasing the supply cap limit voting on Mainnet.
  2. To complete applying the feature to the next networks: Optimism, Arbitrum, Base, and Polygon.

UI and Web3 logic

  1. To implement sorting lend and borrow positions on the dashboard by balance value.
  2. To implement the hiding of the positions with <$1 balance on the Dashboard (desktop and mobile).
  3. To get the audit feedback from OZ on 10 Feb.

Compound Sandbox

Done 03-07 Feb

  1. New functionality of Curated Markets was added
  2. Smart contracts development was started
  3. Back-end development was started
  4. SDK and Liquidator development was started

Compound Grant

Done 03-07 Feb

  1. [network] Uni-chain development [testnet]
  2. [network] Ronin development [testnet]
  3. [market] USDS on Base

To be done 10-14 Feb

  1. [network] Uni-Chain deployment [mainnet]
  2. [collateral] weETH on USDS Mainnet
  3. [collateral] weETH on USDT Mainnet
  4. [network] Ronin development [testnet]

Backlog

  1. [collateral] weETH on USDS Mainnet
  2. [collateral] SKY on USDS, USDT, USDC Mainnet
  3. [network] Sonyc deployment
  4. [collateral] FBTC on USDC Mainnet
  5. [collateral] tETH on WETH/wstETH Mainnet
  6. [network] Ronin development [mainnet]
Feb 03, 2025
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[WOOF!] General Compound Weekly Report | Jan 27 - Jan 31, 2025

Compound Migrator

Done 27-31 Jan

Front

  1. Completed AAVEv3 cross-isolated margin migration logic. (Except for the functionality of swap switching to the base token).

To be done 3-7 Feb

Smart Contracts

  1. Unit tests - Basic coverage with unit tests for Morpho.
  2. Unit tests - Full coverage with unit tests for Morpho, Spark, and AAVE V3.
  3. Fork tests - Develop tests for all 7 networks for each of the 3 protocols.
  4. Scripts deployment - Provide deployment for the left 6 networks.
  5. Documentation - Create documentation for the front end on how to integrate Morpho.
  6. To finish Natspec.

Front

  1. Complete the functionality of swap switching to the base token.
  2. To connect AAVEv3 free collateral margin logic.
  3. Start Spark logic integration on the front end.

QA

  1. Provide testing of the migration from AAVEv3 to the Compound.

Compound Frontend

Done 27-31 Jan

  1. Created the Dune Dashboard with the necessary fields, filters, and sorting to process data for voting on the Mainnet collaterals’ supply capitalization limit increasing.

To be done 3-7 Feb

  1. To test the feature for increasing the supply cap limit voting on Mainnet.
  2. To start applying the feature to the next networks: Optimism, Arbitrum, Base, and Polygon.
  3. To get the audit feedback from OZ on 10 Feb.

Compound Sandbox

Done 27-31 Jan

  1. Working on testing environment setup.
  2. Started creating the mock for PID Controller.

To be done 3-7 Feb

  1. To go ahead with the testing environment setup.
  2. Proceed to create the mock for the PID Controller.
  3. Definition of the scope and tasks for the next development direction:
  4. To define the complete scope of a Smart contract direction.
  5. Frontend.
  6. Backend.

Compound Grant

Done 27-31 Jan

  1. [collateral] superOETHB on WETH Base
  2. [network] Uni-chain development [testnet]
  3. [network] Ronin development [testnet]

To be done 03-07 Feb

  1. [network] Uni-chain development [testnet]
  2. [network] Uni-Chain deployment [mainnet]
  3. [network] Ronin development [testnet]
  4. [network] Ronin development [mainnet]

To push on-chain 03-07 Feb

  1. 24 collaterals Mainnet (1)
  2. 24 collaterals Mainnet (2) - Optionally.
  3. 24 collaterals Arbitrum
  4. 24 collaterals Base
  5. 24 collaterals Optimism
  6. 24 collaterals Polygon
  7. 24 collaterals Mantle
  8. 24 collaterals Scroll

Backlog

  1. [network] Sonyc deployment
  2. [collateral] weETH on USDT, USDC Mainnet
  3. [collateral] SKY on USDS, USDT, USDC Mainnet
  4. [market] USDS on Base
  5. [collateral] FBTC on USDC Mainnet
  6. [collateral] tETH on WETH/wstETH Mainnet

Team