Simple Summary
Gauntlet will use Cap Guardian to increase Supply caps for wstETH.
| Current Supply Cap | Recommended Supply Cap | Current Borrow Cap | Recommended Borrow Cap | |
|---|---|---|---|---|
| wstETH | 2100 | 3000 | 900 | 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
wstETH Cap Recommendations
Cap Usage
The wstETH Supply Cap has increased over the 75% threshold.
wstETH positions
The top 7 positions supplying wstETH are borrowing correlated assets with exception for two positions - one borrowing USDC and another position with no debt. Gauntlet will continue to monitor these positions.
wstETH Circulating Supply
wstETH’s circulating supply on Base has also been increasing exponentially since the start of the year with 267% increase YTD.
