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ChaosLabs proposed to increase the supply cap for WETH and METIS on Aave V3 Metis due to 100% utilization, suggesting a doubling of the cap for WETH to 100 and METIS to 15,000. After agreement from Gauntlet and execution via the Risk Steward process, the supply cap increase for both assets and the borrow cap increase for WETH were successfully implemented.
The discussion revolved around the proposal by ChaosLabs to increase the supply cap for WETH and METIS on Aave V3 Metis, due to the current 100% utilization. The suggestion was to double the cap for WETH to 100 and for METIS to 15,000. This proposal was backed up with a table showing the current and recommended supply and borrow caps for both assets on the Metis chain. The proposal was pending feedback from Gauntlet to proceed with the updates via the Risk Steward process1.
Gauntlet concurred with the proposed increases for the WETH and METIS supply caps2. Following this, ChaosLabs prepared the payload for the proposal to be executed via the Risk Steward process3. However, it was noted by Gauntlet that the transaction was queued but not yet available to execute4. In response, ChaosLabs created an additional transaction to enable the execution of the proposal and were waiting for Gauntlet to sign it5.
The discussion concluded with Gauntlet confirming that the supply cap increase for WETH and METIS, and the borrow cap increase for WETH had been executed via the Risk Steward process6. This marked the successful implementation of the proposed changes, thereby addressing the issue of 100% utilization.
Posted 5 months ago
Last reply 4 months ago
Summary updated 2 months ago
Last updated 08/12 04:39