Overview
Gauntlet proposes reducing supply and borrow caps for Euler Yield markets that have supply and borrow cap utilization at ≤10% over the past 30 days by 50%.
Rationale:
The outlined markets have demonstrated low user demand over the last 30 days, with peak utilization on both the borrow and supply sides below 11%. In order to reduce risk exposure, we recommend reducing supply and borrow caps for these markets by 50%. We note that cap reductions will not affect currently open positions.
| Markets | Supply Caps | Borrow Caps | Supply Cap Utilization 30 Day High | Borrow Cap Utilization 30 Day High |
|---|---|---|---|---|
| USDtb | 20,000,000 | 18,000,000 | 0% | 0% |
| USDS | 10,000,000 | 9,000,000 | 0% | 0% |
| PYUSD | 10,000,000 | 9,000,000 | 0% | 0% |
| DAI | 10,000,000 | 9,000,000 | 0% | 0% |
| mBASIS | 6,000,000 | 1,800,000 | 0% | 0% |
| syrupUSDC | 20,000,000 | 18,000,000 | 0% | 0% |
| sUSDe | 30,000,000 | 9,000,000 | 0% | 0% |
| sDAI | 10,000,000 | 3,000,000 | 1% | 0% |
| USD0 | 10,000,000 | 9,000,000 | 2% | 1% |
| USDe | 40,000,000 | 36,000,000 | 10% | 10% |
Cap Recommendations
| Vault | Supply Cap | Borrow Cap |
|---|---|---|
| USDtb | 20M → 10M | 18M → 9M |
| USDS | 10M → 5M | 9M → 4.5M |
| PYUSD | 10M → 5M | 9M → 4.5M |
| DAI | 10M → 5M | 9M → 4.5M |
| mBASIS | 6M → 3M | 1.8M → 900K |
| syrupUSDC | 20M → 10M | 18M → 9M |
| sUSDe | 30M → 15M | 9M → 4.5M |
| sDAI | 10M → 5M | 3M → 1.5M |
| USD0 | 10M → 5M | 9M → 4.5M |
| USDe | 40M → 20M | 36M → 18M |
Next Steps
- We welcome community feedback.
