Simple Summary
Gauntlet will use Cap Guardian to lower Borrow and Supply Cap on cbETH.
| Current (#) | Current (USD) | Recommended (#) | Recommended (USD) | |
|---|---|---|---|---|
| Supply Cap | 5,000 | $8,665,000 | 4,000 | $6,932,000 |
| Borrow Cap | 1,500 | $2,599,500 | 1,200 | $2,079,600 |
Gauntlet will be utilizing the Cap Guardians to enact this change as voted by the community within this forum post and proposal.
Supporting Data
Gauntlet has been monitoring liquidity within the BASE ecosystem and has noticed a slow down in TVL ramp up:
Liqudity and circulating supply of cbETH at this moment requires a recalibration of the caps. We recommend to lower caps to reflect more accurately with the supply of tokens on the protocol and liquidity on-chain.
| Total Circulating Supply | Percentage of Circulating Supply | 25% Liquidity DEX Depth USD | 2% Coinbase Liquidity | |
|---|---|---|---|---|
| cbETH | 9,367 | 53% | $1,386,400 | $691,000 |
This action should not impact cap usage:
