[ARFC] Gauntlet recommendation to re-enable CRV borrowing on v3 Ethereum/Polygon

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Gauntlet recommends re-enabling CRV borrowing on Ethereum and Polygon v3 with adjusted parameters to mitigate risks, receiving positive community feedback. A community vote is scheduled for November 20, 2023, to finalize the decision.

What is this about?

The discussion revolves around the recommendation from Gauntlet to re-enable CRV borrowing on the v3 versions of Ethereum and Polygon. This comes after the Vyper exploit incident, which had previously led to the suspension of CRV borrowing. Gauntlet has proposed several changes to the CRV parameterization to mitigate risk and balance future demand. These changes include lowering the supply and borrow caps on Ethereum v3 and reducing the borrow cap on Polygon v3, citing low usage as the reason for the latter adjustment.

How is the community reacting?

The community reaction appears to be positive towards the recommendation from Gauntlet. ChaosLabs has expressed support for the proposed changes2. Additionally, GHOsting has agreed that the situation with CRV is stable and supports reactivating CRV borrowing with the recommended parameter adjustments4. Furthermore, Gauntlet has initiated a snapshot for community feedback, indicating a proactive approach to community involvement in the decision-making process3.

Why this is positive?

  • The reactivation of CRV borrowing could restore functionality and options for users on both Ethereum and Polygon v3.
  • The conservative approach to parameter changes aims to balance risk and demand, potentially leading to a more stable borrowing environment.
  • Community support, as evidenced by ChaosLabs and GHOsting, suggests a consensus on the path forward, which could lead to smoother implementation.

Why this is negative?

We have not been able to determine whether this will be negative.

Next actions

A snapshot for community feedback has been posted by Gauntlet, with the vote scheduled to take place on 2023-11-203. Community members are encouraged to participate in the voting process to voice their opinions on the proposed changes.

Posted 20 days ago

Last reply 13 days ago

Summary updated 10 days ago

Last updated 04/12 00:17