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ChaosLabs proposed and Gauntlet executed increases in borrow and supply caps for USDT, MKR, and rETH on Aave V3 Ethereum. However, Leritu reported migration issues to v3, a risk oversight regarding the largest MKR position migration, and a problem with the MKR supply cap being below their position, requesting further cap increase from ChaosLabs.
ChaosLabs' Proposal and Execution
User ChaosLabs proposed an increase in the borrow cap for USDT and supply cap for MKR on Aave V3 Ethereum. The proposed changes were to increase the USDT borrow cap from 185M to 250M, and the MKR supply cap from 6,000 to 10,000. In addition, the rETH borrow cap, which had reached 100% utilization, was recommended to be increased from 2,400 to 4,800. The proposal was awaiting feedback from Gauntlet.
Gauntlet later confirmed alignment with the cap increases. The changes were then prepared to be executed via the Risk Steward process. Gauntlet confirmed that the changes had been executed via the Risk Steward process.
User Leritu reported an error when attempting to migrate to v3, even after the changes had been executed. EzR3aL suggested using the Aave website for migration, but Leritu reported the same issue there. Alice suggested that the issue might be related to isolation-mode. MarcZeller reminded users that the thread was not a support channel and suggested moving the discussion to Discord. Leritu responded that it was still unclear whether the issue was a risk issue, a support issue, or an Aave app issue.
Leritu's Oversight Report
Leritu pointed out an oversight to risk regarding the inability of the largest MKR position to migrate to v3. Leritu expressed disappointment, feeling that they received a reprimand instead of appreciation for their effort.
Supply Cap Issue
After resolving the technical issues, Leritu faced a problem with the supply cap of available MKR, which was slightly below their position. They requested ChaosLabs for an increase in the supply cap to facilitate the transfer of their position. The current headroom for the move was insufficient for Leritu to execute the increase and move their position.
The proposed cap increases by ChaosLabs were confirmed and executed by Gauntlet. However, issues with migration to v3 were reported by Leritu, and the cause of these issues remains unclear. Additionally, Leritu highlighted a risk oversight regarding the migration of the largest MKR position to v3. The discussion regarding these issues is suggested to be moved to Discord. Leritu has resolved all technical issues but is now facing a problem with the supply cap of available MKR, which is slightly below their position. They are requesting ChaosLabs for an increase in the supply cap to facilitate the transfer of their position. The current headroom for the move is insufficient for Leritu to execute the increase and move their position.
Posted 4 months ago
Last reply 3 months ago
Summary updated 3 months ago
Last updated 08/12 04:39