Simple Summary
Gauntlet will use Cap Guardian to increase Supply & Borrow Cap on rETH.
| Current | Recommended | |
|---|---|---|
| Supply Cap | 300 | 330 |
| Borrow Cap | 50 | 100 |
Gauntlet will be utilizing the Cap Guardians to enact this change as voted by the community within this forum post and proposal.
Supporting Data
Supply and Borrow Cap Usage
There has been high demand to supply and borrow rETH within the liqudity pool. rETH collateral usage equates to $177k with most top rETH collateral positions either borrowing recursively or with highly correlated assets. There is $109k outstanding borrows of rETH and the recommended cap should allow for a further $128k in borrowings.
Top rETH Suppliers
Top rETH Borrows
The top 3 borrow positions have recursive supply positions relative to their outstanding rETH.
rETH Circulating Supply and Holders
Since our last recommendation, circulating supply of rETH has increase from 398 to 435.
| Asset | Current | Cap Usage |
|---|---|---|
| rETH Supply Cap | 300 | 90% |
| rETH Borrow Cap | 50 | 84% |
| Asset | DEX 5pct Slippage Token | DEX 5pct Slippage USD |
|---|---|---|
| rETH | 400 | $1,026,492 |