Gauntlet Guardian - cbETH Borrow Cap Recommendation on BASE (2024-02-17)

Simple Summary

Gauntlet will use Cap Guardian to increase Borrow Cap for cbETH.

Current Borrow Cap Recommended Borrow Cap
cbETH 1000 1800

Gauntlet will be utilizing the Cap Guardians to enact this change as voted by the community within this forum post and proposal.

Supporting Data

cbETH Cap Usage

The cbETH Borrow Cap has experienced a large increase in usage the past 2 days and currently sits at 92% threshold.

Link to chart

cbETH positions

The largest borrowers of cbETH have mostly recursive positions on cbETH.

DEX Liquidity and Cap Usage

Asset Current Borrow Cap Current Supply Cap Borrow Cap Usage Supply Cap Usage DEX 25pct Slippage Token DEX 25pct Slippage USD
cbETH 1,000 6,000 92.1% 63.31% 958 $2,334,946.34
1 Like

Guardian transaction executed on-chain.