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Gauntlet initially proposed to increase the WMATIC supply cap on Polygon Aave V3 from 105,000,000 to 120,000,000 due to high usage. However, after observing a decrease in WMATIC supply cap utilization to 61%, the proposal was rejected and the planned transaction was cancelled.
The discussion began with Gauntlet proposing an increase in the WMATIC supply cap on Polygon Aave V3 from 105,000,000 to 120,000,000. This was due to the supply cap surpassing the 75% threshold, reaching 76% usage. ChaosLabs supported this proposal, and in response, Gauntlet prepared the transaction to be executed via Risk Steward.
However, the situation took a turn when ChaosLabs noticed multiple withdrawals of WMATIC, which resulted in a decrease in the current supply to approximately 66.69M WMATIC. This meant that the supply cap utilization had dropped to less than 64%. Consequently, ChaosLabs suggested postponing the execution of the proposal until further notice.
In light of the new developments, Gauntlet decided to reject the risk steward transaction, given the decrease in WMATIC supply cap utilization to 61%. This decision was confirmed by ChaosLabs, who also confirmed the execution of the rejection transaction and the cancellation of the risk steward transaction. Thus, the initial proposal to increase the WMATIC supply cap was ultimately not implemented.
Posted 4 months ago
Last reply 4 months ago
Summary updated 2 months ago
Last updated 04/12 00:18