Proposal overview
Supply and Borrow Caps Update - LUSD - v3 Ethereum
Summary
A proposal to increase the LUSD supply cap to 6M and the borrow cap to 2.4M.
Motivation
LUSD is currently at ~96% of its supply cap and ~89% of its borrow cap on Aave V3 Ethereum. This increase in supply and borrow has happened over the past few days following the de-peg events of several stablecoins, including LUSD.
Given the on-chain liquidity levels, current conservative caps set, and the fact that LUSD is a non-collateral asset, we recommend doubling the supply and borrow cap.
The proposal represents a 100% increase from the current caps, making this ARFC compliant with the “direct-to-AIP” framework.
Specification
Ticker: LUSD (LUSD)
Contract Address: 0x5f98805A4E8be255a32880FDeC7F6728C6568bA0
Parameter | Current | Proposed |
---|---|---|
Supply Cap | 3M | 6M |
Borrow Cap | 1.2M | 2.4M |
References
Copyright
Copyright and related rights waived via CC0.
Your voting info
Voting results
YAE
563,813
AAVE100.00%
NAY
<1
AAVE<0.01%
Votes
Executed on
Mar 20, 2023Required
563.81K
320.00K
Required
563.81K
80,000.00
16,000,000
Proposal details
Block
15 Mar 2023, 17:42 UTC +00:00
16834850
Block
16 Mar 2023, 18:00 UTC +00:00
16842050
Block
19 Mar 2023, 10:00 UTC +00:00
16861250
20 Mar 2023, 10:44 UTC +00:00
Chaos Labs (@ori-chaoslabs, @yonikesel)