# Compound V2->V3 Migration Proposal Phase 4
### Simple Summary
Gauntlet provides this proposal for Phase 4 of the Compound V2 -> V3 Migration.
### Background
Of the two options proposed in the recently published Phase 4 migration post, the community has voted in favor of Option 1, whose plan is outlined below. See the [forum post](https://www.comp.xyz/t/compound-migration-proposal-phase-4-6-16-23-two-options/4396) for more detail.
* Increase v2 USDC Reserve Factor from 7.5% to 15%
* Decrease v2 daily USDC supply COMP rewards from 161.20 to 111.20 (-50)
* Decrease v2 daily USDC borrow COMP rewards from 161.20 to 111.20 (-50)
* Decrease v2 daily DAI supply COMP rewards from 161.20 to 111.20 (-50)
* Decrease v2 daily DAI borrow COMP rewards from 161.20 to 111.20 (-50)
### Specification
This proposal implements a number of changes using several different contracts:
* v2 daily COMP rewards are updated using `_setCompSpeeds` on the `Comptroller` contract
* v2 USDC Reserve Factor is updated using `_setReserveFactor` on the `cUSDC` contract
*By approving this proposal, you agree that any services provided by Gauntlet shall be governed by the terms of service available at gauntlet.network/tos.*