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The Avalanche V3 market is working towards improving efficiency, with a proposal by MarcZeller for a fast-track process to increase the USDC deposit cap, involving a 24-hour governance thread, a 48-hour snapshot with immediate voting, and community multisig enforcement. The proposal, which received community support, would only act on Supply & Borrow caps with a 50% change and require an 80k AAVE quorum, and the outcome of a live snapshot vote will determine the next steps.
The discussion primarily revolved around the inefficiency of the current protocol inertia in the Avalanche V3 market. MarcZeller proposed a fast-track process to increase the USDC deposit cap, which would involve a 24-hour governance thread, a 48-hour snapshot with immediate voting, and community multisig enforcement1. This process would only act on Supply & Borrow caps with a 50% change and would require an 80k AAVE quorum.
The proposal was met with support from other community members. Raho agreed with the need for a fast-track process, but raised a question about the quorum requirements for such a proposal2. Eboado also supported the proposal, suggesting that it should only be applied to assets listed for at least 2 weeks. He proposed that Supply & Borrow caps could be increased from 30% to 100% with a proper reason and that the process should take a maximum of 4 days3.
In response to the feedback, MarcZeller incorporated the comments into a live snapshot vote4. This indicates that the community is actively working towards improving the efficiency of the Avalanche V3 market, with a focus on streamlining the process for increasing the USDC deposit cap. The outcome of the snapshot vote will determine the next steps in this process.
Posted 2 years ago
Last reply 2 years ago
Summary updated 2 months ago
Last updated 05/12 01:14