Simple Summary
Gauntlet will use Cap Guardian to Change Borrow and Supply caps for USDC.
| Current Supply Cap | Recommended Supply Cap | Current Borrow Cap | Recommended Borrow Cap | |
|---|---|---|---|---|
| USDC | 75,000,000 | 92,000,000 | 70,000,000 | 84,000,000 |
Gauntlet will be utilizing the Cap Guardians to enact this change as voted by the community within this forum post and proposal.
Supporting Data
USDC Cap Recommendations
Supply Cap and Borrow Cap Usage
The USDC Supply cap and Borrow cap usage has increased over the 75% threshold.
USDC Circulating Supply and Holders
The largest position is borrowing recrusively on base with a Health Factor close to 1.01. The rest of the top 10 largest positions are either supplying USDC to borrow non-stable assets or are borrrowing recursively. Gauntlet will continue to monitor these positions closely.
