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The community supported JMac's proposal to increase the Supply Cap of stETH on the Arbitrum network by 25%, from 15k to 18.75k, to make DeFi more accessible. The proposal was successfully executed, marking a significant step towards broadening DeFi's user base.
The discussion revolved around a proposal by JMac to increase the Supply Cap of stETH on the Arbitrum network by 25%, from 15k to 18.75k. This proposal was aimed at making DeFi more accessible, particularly for smaller users who wish to utilize Aave despite the higher transaction fees on L1. The proposed increase was expected to be implemented swiftly with the assistance of Risk Stewards1.
The proposal received widespread support from the community. MarcZeller from the ACI backed the proposal and sought feedback from risk service providers2. ChaosLabs went a step further, advocating for an increase of up to 2X the current supply cap and even prepared the payload for the proposal to be executed via the Risk Steward process 3,5. Gauntlet also expressed support for the 25% increase4 and confirmed that the update to the wstETH supply cap on Arbitrum has been executed via Risk Steward6.
In conclusion, the discussion led to a consensus on increasing the Supply Cap of stETH on the Arbitrum network. The proposal was executed successfully, marking a significant step towards making DeFi more accessible to a broader user base.
Posted 6 months ago
Last reply 5 months ago
Summary updated 2 months ago
Last updated 06/12 00:43