Simple Summary
Gauntlet recommends the following supply cap adjustments to the protocol:
Supply Cap Recommendations
| Comet | Asset | Supply Cap |
|---|---|---|
| Arbitrum USDC | tBTC | 80→40 |
| Arbitrum USDC.e | ARB | 4M→2M |
| Arbitrum USDC.e | GMX | 50K→25K |
| Arbitrum USDT | tETH | 50→25 |
| Arbitrum USDT | GMX | 100K→50K |
| Arbitrum WETH | tETH | 50→25 |
| Arbitrum WETH | USDC | 30M→15M |
| Arbitrum WETH | WBTC | 1000→500 |
| Arbitrum WETH | rETH | 7,500→3,750 |
Rationale
The markets below have demonstrated low user demand over the past 30 days, with average supply cap utilization consistently staying below 1%. To reduce risk exposure to the protocol, we recommend lowering the supply caps for these markets by 50%. We note that cap reductions will not affect currently open positions.
| Comet | Asset | Supply Cap Utilization (average over last 30 days) |
|---|---|---|
| Arbitrum USDC | tBTC | 0.27% |
| Arbitrum USDC.e | ARB | 0.7% |
| Arbitrum USDC.e | GMX | 0.05% |
| Arbitrum USDT | tETH | 0% |
| Arbitrum USDT | GMX | 0.96% |
| Arbitrum WETH | tETH | 0.73% |
| Arbitrum WETH | USDC | 0.04% |
| Arbitrum WETH | WBTC | 0.62% |
| Arbitrum WETH | rETH | 0.12% |
Next Steps
- Gauntlet will continue monitoring market utilization and propose future cap adjustments accordingly.
- We welcome community feedback.