Gauntlet Guardian - WETH Supply Caps (2024-04-12)

Simple Summary

Gauntlet will use Cap Guardian to increase Supply and Borrow caps for wETH.

Current Supply Cap Recommended Supply Cap Current Borrow Cap Recommended Borrow Cap
WETH 24000 28000 20000 No change

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

Supporting Data

WETH Cap Recommendations

Cap Usage

The WETH Supply Cap and Borrow Cap has increased over the 75% threshold.

WETH positions

The top 10 positions supplying WETH are borrowing correlated assets with exception for four positions borrowing USDC. Gauntlet would also like to flag an account with $18.5M supplies and 14.7M borrows(of which 17.1M is WETH collateral) which as has a Health Factor of 1.01. Gauntlet will continue to monitor these positions. These top 10 positions make up more than 50% of all WETH borrows.

Quick Links

Please click below to learn about our methodologies:

Gauntlet Parameter Recommendation Methodology
Gauntlet Model Methodology

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Guardian transaction 1 has been implemented