Compound protocol is planning to migrate cTokens from an immutable version to an upgradable one.
This new model brings a new interest rate methodology and it allows the protocol to embed new features into cTokens.
The migration plan begins with WBTC and continues with BAT, ZRX, USDC, and finally ETH.
The upgradable cWBTC contacts have already been deployed, and Legacy market migration: WBTC, Proposal 41 passed yesterday and has been already queued.
The proposal consists of switching the COMP Distribution from the old contracts to the new market.
In a couple of days, the proposed changes will be executed for the WBTC market and idleWBTC will no longer farm $COMP.
This change will not affect short-term operations: the two WBTC markets will run in parallel, with users incentivized to move to the new contracts. When the legacy market will be small enough, Compound will deprecate it.
From the tech side, new idleWBTC contracts need to be developed and deployed, implementing the cWBTC updates. The adjustment would require an on-chain proposal through a formal IIP.
During this period, the idleWBTC pool will continue to accrue WBTC interests, and $COMP farming will be enabled with the proposal execution.