Gauntlet Guardian - Increase rETH Caps on BASE

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

Gauntlet Guardian for rETH cap recommendations.