Given that USDC total supply on Optimism is 42m as of 2023-11-14, Gauntlet recommends setting USDC supply and borrow caps to 27m and 22m respectively. Should total supply increase near snapshot and AIP, we will be happy to refresh our recommendations.
Lowering supply/borrow caps for USDC.e does not add excess risk, should the community wish to integrate native USDC as the primary stablecoin over USDC.e.