Simple Summary
Gauntlet recommends the following supply cap adjustments to the protocol:
Supply Cap Recommendations
| Comet | Asset | Supply Cap |
|---|---|---|
| Optimism WETH | rETH | 5,000→1,250 |
| Optimism WETH | WBTC | 60→15 |
| Polygon USDC | stMATIC | 8M→2M |
| Polygon USDC | MaticX | 3.2M→800K |
| Polygon USDT | MaticX | 4.16M→1.04M |
| Polygon USDT | stMATIC | 1.5M→375K |
Rationale
The markets below have demonstrated low user demand over the past 30 days, with maximum supply cap utilization consistently staying below 13%. To reduce risk exposure to the protocol, we recommend lowering the supply caps for these markets by 75%. We note that cap reductions will not affect currently open positions.
| Comet | Asset | Supply Cap Utilization (maximum over last 30 days) |
|---|---|---|
| Optimism WETH | rETH | 1.55% |
| Optimism WETH | WBTC | 2.61% |
| Polygon USDC | stMATIC | 0.1% |
| Polygon USDC | MaticX | 12.86% |
| Polygon USDT | MaticX | 1.21% |
| Polygon USDT | stMATIC | 0.02% |
Next Steps
- Gauntlet will continue monitoring market utilization and propose future cap adjustments accordingly.
- We welcome community feedback.