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Gauntlet proposes to reduce the CRV borrow cap on Ethereum v3 from 7,700,000 to 3,800,000 due to its underutilization. The final decision will be based on community feedback and the outcome of the upcoming Aave Improvement Proposal (AIP) scheduled for July 10, 2023.
The discussion primarily revolves around the proposal by Gauntlet to decrease the borrow cap for CRV on Ethereum v3. This suggestion is based on the observation that the CRV borrow cap usage has been consistently low, less than 25% on Ethereum Aave v3, over the past three months. The current cap stands at 7,700,000, but Gauntlet recommends reducing it to 3,800,000. This adjustment is aimed at mitigating tail risks associated with the underutilization of the cap.
The community is actively engaged in this discussion, with an Aave Improvement Proposal (AIP) scheduled to be initiated on July 10, 2023. However, Gauntlet has expressed the intention to gather more feedback from the community on the CRV asset before proceeding with the proposal. This indicates the importance of community consensus in decision-making processes within the platform.
In conclusion, the topic is centered on the potential reduction of the CRV borrow cap on Ethereum v3 due to its low usage. The final decision will be influenced by the community's feedback and the outcome of the upcoming AIP.
Posted 5 months ago
Last reply 4 months ago
Summary updated 2 months ago
Last updated 08/12 04:39