Gauntlet will use Cap Guardian to increase wstETH supply cap:
| Current Supply Cap | Recommended Supply Cap | |
|---|---|---|
| wstETH | 4,000 | 5,000 |
Gauntlet will be utilizing the Cap Guardians to enact this change as voted by the community within this forum post and proposal.
wstETH Cap Recommendations
Cap Usage
The wstETH Supply Cap has increased over the 90% threshold.
wstETH positions
In the top 3 positions, 2 are borrowing stablecoins against their wstETH collateral. These 2 positions have an health factor of 1.7 and 2.02 respectively, while the rest borrowing correlated assets. Gauntlet will continue to monitor these positions.
wstETH Circulating Supply
wstETH’s circulating supply on Base has grown from 10k to 12k since our last recommendation.