Summary:
Gauntlet recommends increasing Supply and Borrow caps for the following assets.
| Asset | Chain | Current Supply Cap | New Supply Cap | Current Borrow Cap | New Borrow Cap |
|---|---|---|---|---|---|
| USDT | Ethereum v3 | 800,000,000 | 1,000,000,000 | 750,000,000 | 930,000,000 |
Motivation:
Gauntlet proposes to increase supply and borrow caps for the assets mentioned above in order to meet the increasing demand.
USDT on Ethereum Aave v3
We propose an increase supply cap for USDT by 25% and borrow cap by 24% in line within our borrow/supply cap framework which considers tokens needed to break-even for a long attack as well as overall circulating supply.
Link to Dashboard
Specifications:
| Asset | Chain | Current Supply Cap | New Supply Cap | Current Borrow Cap | New Borrow Cap |
|---|---|---|---|---|---|
| USDT | Ethereum v3 | 800,000,000 | 1,000,000,000 | 750,000,000 | 930,000,000 |
| Asset | Circulating Supply | DEX 25% Slippage | Global 2% Depth ($) |
|---|---|---|---|
| USDT | 44,007,725,841 | $203,513,933 | $1,901,998,917 |
Next Steps
Once we receive feedback from @ChaosLabs on the above recommendations, we will move forward with Risk Steward actions.