[Gauntlet] Offboard USR & wstUSR from Euler Arbitrum Yield

Euler DAO Markets
1

Summary

This proposal recommends offboarding USR & wstUSR from Euler Arbitrum Yield due to low demand. There has been no activity on either vault in the last 60 days. This recommendation is simply due to a lack of activity.

Supply

Asset Total Supply ($) Total Borrow ($)
USR 0 0
wstUSR 0 N/A

Offboarding Process

We recommend the following offboarding process:

  • Set supply caps to 100K
  • Ramp down LTVs to 0 over 30 days
  • Inform users about the offboarding on public channels
  • Once the ramping period is over, remove the vaults from the UI

Next Steps

  • We welcome community feedback.
2

We support this proposal.

Economic analysis confirms that USR and wstUSR are low-opportunity assets for the market on Arbitrum:

  1. USR has an abnormally low supply of 1k
  2. wstUSR has ~7.3M in supply. 98% of it is locked on in Fluid with 6x leverage. Remaining free-float supply is negligible.
  3. USR and wstUSR on Pendle is near empty with negligible trading volume, confirming that these are not speculative assets.