Chaos Labs - Monthly Community Update

July 2023

Overview

This update highlights the past month’s activities and proposals and shares our planned work.

Highlights

  • On the weekend of July 22nd, the MAI token underwent considerable fluctuations, with the price dropping to a low of nearly $0.91. Even though we didn’t recommend immediate actions, we proposed a measure to curtail the exposure on Aave while the market continues to evolve. This suggestion entailed drastically reducing supply and borrow caps as well as debt ceilings across all applicable deployments (Avalanche, Optimism, Arbitrum, Polygon).

Untitled - 2023-08-02T130936.645

What’s Next

In the coming month, the Chaos team will focus on the following few areas:

  • GHO - following the launch of GHO and initial discussion surrounding the GSM, GHO Steward, Liquidity Pools, and more, we are prepared to support the community on all GHO-related initiatives.
  • Continuation of the community plan for V2 → V3 migration as described here
  • Continuation of the V2 risk parameter updates to gradually reduce capital efficiency across V2 collateral assets.
  • Continuous optimization of risk parameters on V3 deployments.
  • Analysis and parameter recommendations for new assets and markets.
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