Gauntlet Guardian - Base USDC Cap Recommendations (2024-05-24)

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.

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Guardian Transaction 1 and Transaction 2 have been implemented

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