Summary
A proposal to increase:
- GNO - Borrow Cap
- WXDAI - Supply and Borrow Cap
- USDC - Supply and Borrow Cap
- sDAI - Supply Cap
Motivation
The recommendations below were made utilizing Chaos’ supply and borrow cap methodologies and after analyzing user positions for each asset.
USDC
The supply and borrow caps for USDC on Gnosis V3 are currently at 84% and 57% utilization, respectively.
Considering the liquidity on Gnosis we recommend doubling the supply and borrow cap and setting them at 6M and 5.4M, respectively.
WXDAI
The supply and borrow caps for WXDAI on Gnosis V3 are currently at 90% and 72% utilization, respectively.
Considering the liquidity on Gnosis we recommend doubling the supply and borrow cap and setting them at 4.6M and 4.6M, respectively.
sDAI
The supply cap for sDAI on Gnosis V3 is currently at 49% utilization
Considering the liquidity on Gnosis and preparations for potential increased demand due to DSR increase, we recommend increasing the supply cap to 10M.
GNO
The borrow cap for GNO on Gnosis V3 is currently at 89% utilization.
Considering the liquidity and usage on Gnosis we recommend doubling the cap to 2.2k
Specification
| Chain | Asset | Current Supply Cap | Recommended Supply Cap | Current Borrow Cap | Recommended Borrow Cap |
|---|---|---|---|---|---|
| Gnosis | GNO | 40,000 | No Change | 1,100 | 2,200 |
| Gnosis | WXDAI | 2,300,000 | 4,600,000 | 2,300,000 | 4,600,000 |
| Gnosis | USDC | 3,000,000 | 6,000,000 | 2,800,000 | 5,600,000 |
| Gnosis | sDAI | 6,000,000 | 10,000,000 | N/A | N/A |
Next Steps
We will move forward and implement these updates via the Risk Steward process.
Disclaimer
Chaos Labs has not been compensated by any third party for publishing this ARFC.
Copyright
Copyright and related rights waived via CC0