# \[Dec 2025\] Non-critical Parameter Updates by Risk Stewards **URL:** \ **Category:** Markets\ **Created:** [December 3, 2025, 9:56pm UTC](https://forum.euler.finance/t/dec-2025-non-critical-parameter-updates-by-risk-stewards/1757 "2025-12-03T21:56:55Z")\ **Posts on this page:** 13\ **Page:** 1
**Author:** ![Gauntlet](https://yyz1.discourse-cdn.com/flex007/user_avatar/forum.euler.finance/gauntlet/32/611_2.png) [@Gauntlet](https://forum.euler.finance/u/Gauntlet)\ **Post date:** [December 3, 2025, 9:56pm UTC](https://forum.euler.finance/t/dec-2025-non-critical-parameter-updates-by-risk-stewards/1757/1 "2025-12-03T21:56:55Z")
_This is the monthly continuation of CapRiskSteward updates._ Previous update threads: - [[April 2025] Non-critical Parameter Updates by Risk Stewards](https://forum.euler.finance/t/april-2025-non-critical-parameter-updates-by-risk-stewards/1364) - [[May 2025] Non-critical Parameter Updates by Risk Stewards](https://forum.euler.finance/t/may-2025-non-critical-parameter-updates-by-risk-stewards/1391) - [[Jun 2025] Non-critical Parameter Updates by Risk Stewards](https://forum.euler.finance/t/jun-2025-non-critical-parameter-updates-by-risk-stewards/1423/1) - [[Jul 2025] Non-critical Parameter Updates by Risk Stewards](https://forum.euler.finance/t/jul-2025-non-critical-parameter-updates-by-risk-stewards/1525/1) - [[Aug 2025] Non-critical Parameter Updates by Risk Stewards](https://forum.euler.finance/t/aug-2025-non-critical-parameter-updates-by-risk-stewards/1596/50) - [[Sept 2025] Non-critical Parameter Updates by Risk Stewards](https://forum.euler.finance/t/sept-2025-non-critical-parameter-updates-by-risk-stewards/1636) - [[Nov 2025] Non-critical Parameter Updates by Risk Stewards](https://forum.euler.finance/t/oct-2025-non-critical-parameter-updates-by-risk-stewards/1682) ## Summary Euler Labs and Objective Labs recently [developed](https://forum.euler.finance/t/optimizing-on-chain-management-of-euler-vaults/1357) the `CapRiskSteward` smart contract as a fast lane for non-critical parameter updates. Following its implementation for the Euler DAO markets, we propose that service providers follow a notification process for in-scope changes. By establishing this process we seek to give the Euler community full transparency into the work done by service providers to optimize and grow Euler DAO markets. ---
**Author:** ![Gauntlet](https://yyz1.discourse-cdn.com/flex007/user_avatar/forum.euler.finance/gauntlet/32/611_2.png) [@Gauntlet](https://forum.euler.finance/u/Gauntlet)\ **Post date:** [December 3, 2025, 9:58pm UTC](https://forum.euler.finance/t/dec-2025-non-critical-parameter-updates-by-risk-stewards/1757/2 "2025-12-03T21:58:56Z")
# [Gauntlet] Parameter Updates for WMON on Euler Monad ## Recommendation | Vault | Asset | Kink Borrow APY | Max Borrow APY | | --- | --- | --- | --- | | Isolated shMON-WMON-USDC | WMON | 3%→ **25%** | 15%→ **50%** | | Isolated shMON-WMON-AUSD | WMON | 3%→ **25%** | 15%→ **50%** | ## Rationale: Due to elevated utilization in Monad markets involving WMON and shMON, Gauntlet recommends increasing the Kink Borrow APY to 25% and the Max Borrow APY to 50%. These adjustments will bring these markets towards a more stable equilibrium. ## Next Steps - We welcome community feedback. ---
**Author:** ![Gauntlet](https://yyz1.discourse-cdn.com/flex007/user_avatar/forum.euler.finance/gauntlet/32/611_2.png) [@Gauntlet](https://forum.euler.finance/u/Gauntlet)\ **Post date:** [December 4, 2025, 12:42am UTC](https://forum.euler.finance/t/dec-2025-non-critical-parameter-updates-by-risk-stewards/1757/3 "2025-12-04T00:42:55Z")
# [Gauntlet] Parameter Updates for thBILL on Euler Arbitrum Theo ### Recommendation | Market | Vault | Supply Cap | Borrow Cap | | --- | --- | --- | --- | | Euler Arbitrum Theo | thBILL | 10M→ **15M** | 9M→ **13.5M** | ### Rationale: Since listing the Euler Arbitrum Theo market, we have seen the supply cap for thBILL filled. We recommend a increase in the supply cap to 15M and a proportional increase in the borrow cap to 13.5M. ## Next Steps - We welcome community feedback. ---
**Author:** ![Objective](https://yyz1.discourse-cdn.com/flex007/user_avatar/forum.euler.finance/objective/32/830_2.png) [@Objective](https://forum.euler.finance/u/Objective)\ **Post date:** [December 4, 2025, 5:07am UTC](https://forum.euler.finance/t/dec-2025-non-critical-parameter-updates-by-risk-stewards/1757/4 "2025-12-04T05:07:58Z")
Objective Labs supports Gauntlet’s recommendations for Isolated shMON-WMON-USDC and Isolated shMON-WMON-AUSD on the grounds of shMON’s high observed APY. Cap increases for thBILL are reasonable and within safety margins. ---
**Author:** ![Gauntlet](https://yyz1.discourse-cdn.com/flex007/user_avatar/forum.euler.finance/gauntlet/32/611_2.png) [@Gauntlet](https://forum.euler.finance/u/Gauntlet)\ **Post date:** [December 4, 2025, 9:34pm UTC](https://forum.euler.finance/t/dec-2025-non-critical-parameter-updates-by-risk-stewards/1757/5 "2025-12-04T21:34:47Z")
# [Gauntlet] Parameter Updates on Euler Yield (2025-12-04) | **Market** | **Vault** | **Supply Cap** | Borrow Cap | | --- | --- | --- | --- | | Euler Yield | PT-jrUSDe-18Dec2025 | 3M → 4.5M | - | ### Rationale PT-jrUSDe-18Dec2025 has demonstrated strong user demand on Euler Yield, consistently reaching its supply cap over the past several days. To accommodate this ongoing demand and support market growth, we recommend increasing the cap to 4.5M. There is 9.2M Liquidity on Pendle for and seem capable to handle any potential liquidations. ### **Next Steps** - We welcome community feedback. ---
**Author:** ![Gauntlet](https://yyz1.discourse-cdn.com/flex007/user_avatar/forum.euler.finance/gauntlet/32/611_2.png) [@Gauntlet](https://forum.euler.finance/u/Gauntlet)\ **Post date:** [December 5, 2025, 2:22pm UTC](https://forum.euler.finance/t/dec-2025-non-critical-parameter-updates-by-risk-stewards/1757/6 "2025-12-05T14:22:28Z")
# [Gauntlet] Parameter Updates for WMON on Euler Monad ## Recommendation | **Vault** | **Asset** | **Max Borrow APY** | | --- | --- | --- | | Isolated shMON-WMON-USDC | WMON | 50%→1 **50%** | | Isolated shMON-WMON-AUSD | WMON | 50%→1 **50%** | ## Rationale: Due to the high intrinsic APY in Monad markets involving WMON and shMON, Gauntlet recommends increasing the Max Rate from 50% to 150%. This increase in Max Rate should be sufficient for Lender and Borrowers to self-adjust in a high-intrinsic-APY market. ## Next Steps - We welcome community feedback. ---
**Author:** ![Objective](https://yyz1.discourse-cdn.com/flex007/user_avatar/forum.euler.finance/objective/32/830_2.png) [@Objective](https://forum.euler.finance/u/Objective)\ **Post date:** [December 5, 2025, 2:23pm UTC](https://forum.euler.finance/t/dec-2025-non-critical-parameter-updates-by-risk-stewards/1757/7 "2025-12-05T14:23:25Z")
Objective Labs agrees that raising the max borrow APY is prudent given the unusually high APY for shMON. ---
**Author:** ![Gauntlet](https://yyz1.discourse-cdn.com/flex007/user_avatar/forum.euler.finance/gauntlet/32/611_2.png) [@Gauntlet](https://forum.euler.finance/u/Gauntlet)\ **Post date:** [December 9, 2025, 10:13pm UTC](https://forum.euler.finance/t/dec-2025-non-critical-parameter-updates-by-risk-stewards/1757/8 "2025-12-09T22:13:31Z")
# [Gauntlet] Parameter Updates on Euler Base (2025-12-09) ### Recommendation | **Market** | **Vault** | **Supply Cap** | Borrow Cap | | --- | --- | --- | --- | | Euler Base | wsuperOETHb | 900→ **450** | 200→ **100** | | Euler Base | rETH | 250→ **175** | 100→ **50** | ### Rationale Due to low utilization, Gauntlet recommends reducing supply and borrow caps for wsuperOETHb and rETH. Both wsuperOETHb and rETH have seen maximum supply cap utilization under 15% for the last 60 days. Thus, we recommend reducing supply and borrow caps by 50%. These updates will have no impact on existing positions. ### **Next Steps** - We welcome community feedback. ---
**Author:** ![Objective](https://yyz1.discourse-cdn.com/flex007/user_avatar/forum.euler.finance/objective/32/830_2.png) [@Objective](https://forum.euler.finance/u/Objective)\ **Post date:** [December 10, 2025, 8:29am UTC](https://forum.euler.finance/t/dec-2025-non-critical-parameter-updates-by-risk-stewards/1757/9 "2025-12-10T08:29:15Z")
Objective Labs supports Gauntlet’s parameter update proposals for PT-jrUSDe on Euler Yield, thBILL on Euler Theo, and wsuperOETHb and rETH on Euler Base. We caution against further increases for PT-jrUSDe. Strata’s jrUSDe has poor DEX liquidity with a $100k jrUSDe causing 35% price impact against USDC. ---
**Author:** ![Gauntlet](https://yyz1.discourse-cdn.com/flex007/user_avatar/forum.euler.finance/gauntlet/32/611_2.png) [@Gauntlet](https://forum.euler.finance/u/Gauntlet)\ **Post date:** [December 10, 2025, 7:32pm UTC](https://forum.euler.finance/t/dec-2025-non-critical-parameter-updates-by-risk-stewards/1757/10 "2025-12-10T19:32:32Z")
# [Gauntlet] Parameter Updates for WMON on Euler Monad (2025-12-10) ## Recommendation | **Vault** | **Asset** | Kink Borrow APY | **Max Borrow APY** | | --- | --- | --- | --- | | Isolated shMON-WMON-USDC | WMON | 25%→ **10%** | 150%→ **50%** | | Isolated shMON-WMON-AUSD | WMON | 25%→ **10%** | 150%→ **50%** | | Isolated shMON-WMON-USDT | WMON | 25%→ **10%** | 150%→ **50%** | | Isolated gMON-WMON-AUSD | WMON | 3%→ **10%** | 15%→ **50%** | | Isolated gMON-WMON-USDC | WMON | 3%→ **10%** | 15%→ **50%** | | Isolated gMON-WMON-USDT | WMON | 3%→ **10%** | 15%→ **50%** | | Isolated sMON-WMON-AUSD | WMON | 3%→ **10%** | 15%→ **50%** | | Isolated sMON-WMON-USDC | WMON | 3%→ **10%** | 15%→ **50%** | | Isolated sMON-WMON-USDT | WMON | 3%→ **10%** | 15%→ **50%** | ## Rationale: As intrinsic APYs have stabilized on gMON, sMON and shMON, the above adjustments should bring the market closer to an efficient equilibrium. ## Next Steps We welcome community feedback. ---
**Author:** ![Gauntlet](https://yyz1.discourse-cdn.com/flex007/user_avatar/forum.euler.finance/gauntlet/32/611_2.png) [@Gauntlet](https://forum.euler.finance/u/Gauntlet)\ **Post date:** [December 13, 2025, 2:36am UTC](https://forum.euler.finance/t/dec-2025-non-critical-parameter-updates-by-risk-stewards/1757/11 "2025-12-13T02:36:19Z")
# [Gauntlet] Parameter Updates for thBILL on Euler Arbitrum Theo ### Recommendation | Market | Vault | Supply Cap | Borrow Cap | | --- | --- | --- | --- | | Euler Arbitrum Theo | thBILL | 15M→ **20M** | 13.5M→ **18M** | ### Rationale: Due to high demand for thBILL in Theo markets, we recommend a moderate increase in the supply cap to 20M and a proportional increase in the borrow cap to 18M. ---
**Author:** ![Gauntlet](https://yyz1.discourse-cdn.com/flex007/user_avatar/forum.euler.finance/gauntlet/32/611_2.png) [@Gauntlet](https://forum.euler.finance/u/Gauntlet)\ **Post date:** [December 18, 2025, 5:19pm UTC](https://forum.euler.finance/t/dec-2025-non-critical-parameter-updates-by-risk-stewards/1757/12 "2025-12-18T17:19:57Z")
# **[Gauntlet] Parameter Updates for RLUSD on Euler Prime** ### Recommendation | **Market** | Asset | Max Borrow APY | | --- | --- | --- | | Euler Prime | RLUSD | 13% → **20%** | ### Rationale: Due to an ongoing liquidity crunch, Gauntlet recommends raising the Max Borrow APY for RLUSD on Euler Prime to help restore the market to optimal utilization. Gauntlet will continue monitoring this market to ensure that an efficient equilibrium is reached. ---
**Author:** ![Gauntlet](https://yyz1.discourse-cdn.com/flex007/user_avatar/forum.euler.finance/gauntlet/32/611_2.png) [@Gauntlet](https://forum.euler.finance/u/Gauntlet)\ **Post date:** [December 24, 2025, 1:25am UTC](https://forum.euler.finance/t/dec-2025-non-critical-parameter-updates-by-risk-stewards/1757/14 "2025-12-24T01:25:19Z")
# [Gauntlet] Parameter Updates on Euler Yield (2025-12-23) | **Market** | **Vault** | **Supply Cap** | Borrow Cap | | --- | --- | --- | --- | | Euler Yield | PT-jrUSDe-15JAN2026 | 4.5M → 6M | - | ### Rationale PT-jrUSDe-15JAN2026 has demonstrated strong user demand on Euler Yield, consistently reaching its supply cap over the past several days. To accommodate this ongoing demand and support market growth, we recommend increasing the cap to 6M. There is 9.98M liquidity on Pendle for this market, and the recommended caps should handle any potential liquidations. ### **Next Steps** - We welcome community feedback.