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Aave DAOAave DAOby0x683a4F9915D6216f73d6Df50151725036bD26C02gauntletgov.eth

[ARFC] Arbitrum USDC Migration

Voting ended about 2 years agoSucceeded

title: [ARFC] Arbitrum USDC Migration author: Gauntlet date: 2023-11-07

Summary

See here for the ARFC and community discussion.

Parameter change recommendations to facilitate the migration of bridged USDC.e to Native USDC on Aave’s Arbitrum deployments.

Motivation

As part of Gauntlet’s work with the Arbitrum Foundation to mitigate risk for the ecosystem while the ecosystem transitions from bridged USDC.e to Native USDC, Gauntlet has proposed adjustments to AAVE on Arbitrum. The adjustments covered in the report can be seen below.

These changes are intended to aid Arbitrum in the community’s transition from USDC.e to USDC.

You can read our full analysis here: https://forum.arbitrum.foundation/t/gauntlets-usdc-e-initial-migration-report/15986/5?u=gauntlet

Specification

  • ‘Freeze’ the USDC.e pool.
  • Raise the USDC supply cap to 50,000,000.
  • Raise the USDC borrow cap to 45,000,000.

Disclaimer

  • Gauntlet is compensated by the Arbitrum Foundation to provide recommendations to the major protocols on Arbitrum to facilitate USDC migration. These strategic migration recommendations do not fall under the scope of Gauntlet’s continuous market risk management work for the Aave DAO.
  • This proposal is not meant to indicate that the Arbitrum community should mandate the actions of the multi-deployment and self-governed Aave DAO.
  • Gauntlet reserves the right to not move forward with any parameter changes recommended in Snapshot polls, if market conditions change meaningfully.

Copyright:

Copyright and related rights waived via CC0.

By approving this proposal, you agree that any services provided by Gauntlet shall be governed by the terms of service available at gauntlet.network/tos.

Off-Chain Vote

YAE
215.82K AAVE42.7%
NAY
60.22K AAVE11.9%
ABSTAIN
229.97K AAVE45.4%
Quorum:158%
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Discussion

Aave DAO[ARFC] Arbitrum USDC Migration

Timeline

Nov 07, 2023Proposal created
Nov 08, 2023Proposal vote started
Nov 11, 2023Proposal vote ended
Jan 30, 2026Proposal updated