# \[Jul 2025\] Non-critical Parameter Updates by Risk Stewards **URL:** \ **Category:** Markets\ **Created:** [July 1, 2025, 11:47am UTC](https://forum.euler.finance/t/jul-2025-non-critical-parameter-updates-by-risk-stewards/1525 "2025-07-01T11:47:26Z")\ **Posts on this page:** 14\ **Page:** 2
**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:** [July 21, 2025, 10:23am UTC](https://forum.euler.finance/t/jul-2025-non-critical-parameter-updates-by-risk-stewards/1525/21 "2025-07-21T10:23:25Z")
CRS items for interest rate adjustments have been executed. ---
**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:** [July 22, 2025, 2:36pm UTC](https://forum.euler.finance/t/jul-2025-non-critical-parameter-updates-by-risk-stewards/1525/22 "2025-07-22T14:36:39Z")
# [Gauntlet] – Parameter Updates on Euler Yield on Ethereum (2025-07-22) | **Market** | **Vault** | **Borrow Cap** | **Supply Cap** | | --- | --- | --- | --- | | Euler Yield | PT-cUSDO-20NOV2025 | - | 100M → 120M | **Rationale:** - PT-cUSD0 has a total TVL of 224M on Pendle, and $40M (Top 10 positions with lowest Health Factor) can be sold with \<5% slippage. - The Supply Cap has reached 81% with strong demonstrated user demand. **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:** [July 22, 2025, 2:46pm UTC](https://forum.euler.finance/t/jul-2025-non-critical-parameter-updates-by-risk-stewards/1525/23 "2025-07-22T14:46:31Z")
Objective is supportive of Gauntlet’s cap increase recommendation for PT-cUSDO-20NOV2025. ---
**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:** [July 23, 2025, 5:23am UTC](https://forum.euler.finance/t/jul-2025-non-critical-parameter-updates-by-risk-stewards/1525/24 "2025-07-23T05:23:32Z")
This CRS item has been executed. > **[Ethereum Transaction Hash: 0x74192f776e... | Etherscan](https://etherscan.io/tx/0x74192f776efdf8978812ea183ca02e5d18f1010e91da330a0fee10c85295401c)** > > Call Exec Transaction Function By 0xb12e6e49...8819Eda87 on 0xBdAa3FCc...3896a976d | Success | Jul-23-2025 05:23:11 AM (UTC) ---
**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:** [July 24, 2025, 10:51pm UTC](https://forum.euler.finance/t/jul-2025-non-critical-parameter-updates-by-risk-stewards/1525/25 "2025-07-24T22:51:37Z")
# [Gauntlet] – Parameter Updates on Ethereum (2025-07-24) | Market | Vault | Borrow Cap | Supply Cap | | --- | --- | --- | --- | | Prime | WETH | 90K → 67.5K | 100K → 75K | | Prime | cbETH | 2500 → 1875 | 6250 → 4688 | | Prime | ezETH | 3120 → 2340 | 13000 → 9750 | | Prime | rETH | 1250 → 938 | 3130 → 2348 | | Prime | rsETH | 9000 → 6750 | 36K → 27K | | Prime | tETH | 3000 → 2250 | 18K → 13.5K | | Prime | weETH | 4500 → 3375 | 18K → 13.5K | | Prime | wstETH | No Change | 12.5K → 10K | **Rationale:** - Due to the increased number of withdrawal requests in the queue for LRTs / LSTs across the market, Gauntlet recommends reducing the Supply and Borrow Caps for WETH and its derivatives on Euler Prime to minimize the protocol’s risk exposure. - 25% decrease in caps if Borrow/Supply Cap Utilization is below 35% - 20% decrease in caps if Borrow/Supply Cap Utilization is between 35% to 50% **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:** [July 24, 2025, 10:52pm UTC](https://forum.euler.finance/t/jul-2025-non-critical-parameter-updates-by-risk-stewards/1525/26 "2025-07-24T22:52:05Z")
# [Gauntlet] – Parameter Updates on Base (2025-07-24) | Market | Vault | Borrow Cap | Supply Cap | | --- | --- | --- | --- | | Base | ezETH | 1250 → 938 | 5000 → 3750 | | Base | weETH | 1250 → 938 | 5000 → 3750 | | Base | wsuperOETHb | 625 → 469 | 2500 → 1875 | | Base | rETH | 2000 → 1500 | 5000 → 3750 | | Base | wstETH | 2000 → 1500 | 5000 → 3750 | | Base | cbETH | 2000 → 1500 | 5000 → 3750 | | Base | WETH | 12700 → 9525 | 15000 → 11250 | **Rationale:** - Due to the increased number of withdrawal requests in the queue for LRTs / LSTs across the market, Gauntlet recommends reducing the Supply and Borrow Caps for WETH and its derivatives on Euler Base to minimize the protocol’s risk exposure. - 25% decrease in caps if Borrow/Supply Cap Utilization is below 35% - 20% decrease in caps if Borrow/Supply Cap Utilization is between 35% to 50% **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:** [July 24, 2025, 10:52pm UTC](https://forum.euler.finance/t/jul-2025-non-critical-parameter-updates-by-risk-stewards/1525/27 "2025-07-24T22:52:29Z")
# [Gauntlet] – Parameter Updates on Unichain (2025-07-24) | Market | Vault | Borrow Cap | Supply Cap | | --- | --- | --- | --- | | Unichain | WETH | 18K → 13.5K | 20K → 15K | | Unichain | wstETH | 750 → 563 | 3000 → 2250 | | Unichain | ezETH | 500 → 375 | 2000 → 1500 | | Unichain | rsETH | 500 → 375 | 2000 → 1500 | | Unichain | weETH | 12K → 9K | 30K → 22.5K | | LST | wstETH | 18K → 13.5K | 20K → 15K | | LST | rsETH | 9000 → 6750 | 10K → 7.5K | | LST | ezETH | 9000 → 6750 | 10K → 7.5K | | LST | WETH | 45K → 33K | 50K → 37.5K | **Rationale:** - Due to the increased number of withdrawal requests in the queue for LRTs / LSTs across the market, Gauntlet recommends reducing the Supply and Borrow Caps for WETH and its derivatives on Euler Unichain to minimize the protocol’s risk exposure. - 25% decrease in caps if Borrow/Supply Cap Utilization is below 35% - 20% decrease in caps if Borrow/Supply Cap Utilization is between 35% to 50% **Next Steps** - We welcome community feedback. # [Gauntlet] – Parameter Updates on Euler on Arbitrum (2025-07-24) | Market | Vault | Borrow Cap | Supply Cap | | --- | --- | --- | --- | | Arbitrum | weETH | 15K → 11K | 30K → 22.5K | | Arbitrum | wstETH | 15K → 11K | 30K → 22.5K | | Arbitrum | WETH | 45K → 33K | 50K → 37.5K | **Rationale:** - Due to the increased number of withdrawal requests in the queue for LRTs / LSTs across the market, Gauntlet recommends reducing the Supply and Borrow Caps for WETH and its derivatives on Euler Arbitrum to minimize the protocol’s risk exposure. - 25% decrease in caps if Borrow/Supply Cap Utilization is below 35% - 20% decrease in caps if Borrow/Supply Cap Utilization is between 35% to 50% **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:** [July 25, 2025, 7:41am UTC](https://forum.euler.finance/t/jul-2025-non-critical-parameter-updates-by-risk-stewards/1525/28 "2025-07-25T07:41:06Z")
Objective Labs is in agreement with Gauntlet’s CRS proposals. The rationale to reduce protocol risk downstream of the current LST withdrawal queue congestion is sound. We remind that EVault’s [`AmountCap` data type](https://github.com/euler-xyz/euler-vault-kit/blob/master/src/EVault/shared/types/AmountCap.sol) can only represent three significant digits, therefore some cap adjustments e.g. `15000 → 11250` cannot be internally represented, and must therefore be truncated (`15000 → 11200`). ---
**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:** [July 28, 2025, 4:50pm UTC](https://forum.euler.finance/t/jul-2025-non-critical-parameter-updates-by-risk-stewards/1525/29 "2025-07-28T16:50:10Z")
# **Objective Labs: Parameter Updates on Ethereum (2025-07-28)** | **Market** | **Vault** | **Supply Cap** | | --- | --- | --- | | Euler Yield | PT-USDe-25SEP2025 | 5M **→ 10M** | ## Rationale Utilization has maxed out and to accommodate rising demand, Objective recommends increasing the supply cap by 100%. Liquidity depth simulation indicate a 10M PT-USDe-25SEP2025 swap can be executed with 0.5% slippage. ---
**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:** [July 30, 2025, 3:45am UTC](https://forum.euler.finance/t/jul-2025-non-critical-parameter-updates-by-risk-stewards/1525/30 "2025-07-30T03:45:16Z")
Gauntlet is aligned with the proposed cap adjustment for PT-USDe-25SEP2025. **PT-USDe-25SEP2025:** - PT liquidity (~$20M) comfortably supports expanding the cap to 10M. - We note the PT matures in fewer than 60 days. We will monitor demand post-implementation and recommend adjustments accordingly. ---
**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:** [July 30, 2025, 5:27am UTC](https://forum.euler.finance/t/jul-2025-non-critical-parameter-updates-by-risk-stewards/1525/31 "2025-07-30T05:27:34Z")
CRS updates dated 2025-07-24 and 2025-07-28 have been executed: - [Ethereum Transaction Hash: 0xf314eafcde... | Etherscan](https://etherscan.io/tx/0xf314eafcde14752cbf2084488f8de18337e4d200a16c3134c4455cc6e24539d1) - [Arbitrum One Transaction Hash: 0x21a36a4ec3... | Arbitrum One](https://arbiscan.io/tx/0x21a36a4ec3a1265e99e9710e159566852321c17a440ec21d6cbda39deff5200c) - [Base Transaction Hash: 0x9dcdd17159... | BaseScan](https://basescan.org/tx/0x9dcdd171594ceea49e3521ff05325b54c5cbe2f5af96e149e910963df1a1ba8d) - [Unichain Mainnet Network Transaction Hash: 0xfcef630843... | Uniscan](https://uniscan.xyz/tx/0xfcef6308437422774f80b6e78286dc0db775851f6bfce39322a82f5e36724fce) ---
**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:** [July 30, 2025, 11:20pm UTC](https://forum.euler.finance/t/jul-2025-non-critical-parameter-updates-by-risk-stewards/1525/32 "2025-07-30T23:20:23Z")
# [Gauntlet] – Parameter Updates on Ethereum (2025-07-30) | **Market** | **Vault** | **Borrow Cap** | **Supply Cap** | | --- | --- | --- | --- | | Euler Prime | wstETH | 5000 → 7500 | 10000 | **Rationale:** - Due to an increase in recent user demand and wstETH’s Borrow Cap Utilization exceeding 85%, Gauntlet recommends increasing its Borrow Cap to 7500. - Liquidity onchain can liquidate the increased Borrow Cap with minimal slippage. ![image](https://canada1.discourse-cdn.com/flex007/uploads/euler/original/1X/ede900ecc82c0103fe9b4160de818cdc04fc2a71.jpeg) **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:** [July 31, 2025, 6:17am UTC](https://forum.euler.finance/t/jul-2025-non-critical-parameter-updates-by-risk-stewards/1525/33 "2025-07-31T06:17:33Z")
Objective is aligned with Gauntlet’s CRS item dated 2025-07-30. wstETH borrow demand has been going up across lending protocols due to the rate perturbations in ETH in the past few weeks. ---
**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:** [August 1, 2025, 5:21am UTC](https://forum.euler.finance/t/jul-2025-non-critical-parameter-updates-by-risk-stewards/1525/34 "2025-08-01T05:21:02Z")
This CRS proposal has been implemented. > **[Ethereum Transaction Hash: 0xa45589d50e... | Etherscan](https://etherscan.io/tx/0xa45589d50ea04aaf15638de0a1b7a1017b20acdd2fab644f659ab9ab3c9125ba)** > > Call Exec Transaction Function By 0xb12e6e49...8819Eda87 on 0xBdAa3FCc...3896a976d | Success | Aug-01-2025 05:19:47 AM (UTC) [Previous page](https://forum.euler.finance/t/jul-2025-non-critical-parameter-updates-by-risk-stewards/1525.md?page=1)