Gauntlet will use Cap Guardian to lower the Borrow and Supply Cap on USDbC.
Gauntlet has been monitoring circulating supply of USDbC within the BASE ecosystem and we have identified a downward trend since the deployment of native USDC:
As a precaution to the eventual migration to native USDC tokens as stated by Circle, we are lowering the caps.
|Current||Recommended||Current Balances||Current Usage||Recommended Usage|
Decreasing the caps should not impact growth and capital efficiency of USDbC.