[Mar 2026] Non-critical Parameter Updates by Risk Stewards

Euler DAO Markets
1

This is the monthly continuation of CapRiskSteward updates.

Previous update threads:

Summary

The team developed 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.

2

Supply and Borrow Cap Recommendations for Euler Base, Prime, Yield, and Unichain

Overview

Gauntlet proposes reducing supply and borrow caps for low-demand markets. All of these markets have seen supply and borrow utilization ≤20% over the last 30 days.

Rationale:

The outlined markets have demonstrated low user demand over the last 30 days, with peak utilization on both the borrow and supply sides at or below 20%. To reduce risk exposure, we recommend lowering the supply and borrow caps for these markets by 50%. We note that cap reductions will not affect currently open positions.

Market Vault Supply Cap Utilization 30 Day High Borrow Cap Utilization 30 Day High Supply Caps Borrow Caps
base LBTC 3.0% 1.7% 50 15
base weETH 5.6% 0.2% 3,750 938
prime LBTC 0.6% 1.3% 300 75
prime USDtb 3.8% 2.9% 20,000,000 18,000,000
prime ezETH 3.1% 0.0% 5,000 1,200
prime rsETH 2.2% 1.5% 27,000 6,750
prime tETH 4.3% 0.0% 9,400 1,600
prime weETH 2.8% 2.0% 13,500 3,380
unichain weETH 5.3% 0.1% 12,000 4,500
yield RLUSD 0.3% 0.1% 200,000,000 180,000,000
yield USDe 4.1% 1.5% 20,000,000 18,000,000
yield frxUSD 15.7% 5.4% 10,000,000 9,000,000

Cap Recommendations

Market Symbol Supply Caps Borrow Caps
base LBTC 50->25 15->7.5
base weETH 3,750->1,875 938->469
prime LBTC 300->150 75->37.5
prime USDtb 20M->10M 18M->9M
prime ezETH 5,000->2,500 1,200->600
prime rsETH 27,000->13,500 6750->3375
prime tETH 9,400->4,700 1,600->800
prime weETH 13,500->6,750 3,380->1,690
unichain weETH 12,000->6,000 4,500->2,250
yield RLUSD 20M->10M 18M->9M
yield USDe 20M->10M 18M->9M
yield frxUSD 10M->5M 9M->4.5M

Next Steps

  • We welcome community feedback.