[ARFC] Gauntlet Supply Cap Recommendation for Arbitrum v3 2023-11-20

Governance
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Summary

Per Gauntlet’s supply and borrow cap methodology, we recommend increasing the USDC supply cap on Arbitrum v3 to 64,000,000.

Specifications

Market Asset Parameter Current Value Recommended Value
Arbitrum v3 USDC Supply Cap 41M 64M

Motivation

The supply cap for Native USDC surpassed the 75% threshold to 77.8% usage on Arbitrum Aave V3.

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USDC on-chain token supply has experienced 90% growth since early October.
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Next Steps

Once we receive feedback from @ChaosLabs on the above recommendations, we will move forward with Risk Steward actions.

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We support the recommendation above.

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Risk steward txn for above cap update is below.

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The transaction above was successfully executed.

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