ARFC: Gauntlet Supply Cap Updates for Avalanche, Arbitrum, Optimism v3

Governance
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Summary

Gauntlet recommends supply cap increases for rETH on Arbitrum v3, BTC.b on Avalanche v3, and wstETH on Optimism v3.

Chain Asset Cap Current Recommended
Arbitrum rETH Supply 650 1300
Avalanche BTC.b Supply 3000 3200
Optimism wstETH Supply 20000 23000

Motivation

Cap usage for rETH is 100%, BTC.b is 100%, and wstETH is 95%.

Next Steps

Once we receive feedback from @ChaosLabs on the above recommendations, we will be able to move forward to implement these updates via the Risk Steward process.

1 Like
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We support the proposed updates.

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We’ve observed multiple withdrawals of BTC.b on V3 Avalanche within the last 24 hours, resulting in a present supply of approximately 1,860 BTC.b amounting to 62% of the supply cap. Considering this level of utilization, we suggest excluding the increase of the BTC.b supply cap from this proposal.

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Arbitrum cap increase for rETH queued here Safe{Wallet} – Transaction queue.

Optimism cap increase for wstETH queued here Safe{Wallet} – Transaction queue.

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We have executed the updates via Risk Steward.

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