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[GIP-254] Reduce Quota Range for llamathena & stkcvxRLUSD/USDC

Voting ended 5 months agoSucceeded

Summary

This proposal reduces the Quota Range for two existing Convex LP collateral tokens across all Gearbox stablecoin pools:

  • Convex-staked scrvUSD/sUSDe LP (“llamathena”)
  • Convex-staked RLUSD/USDC LP

The Max Rate is reduced from:

  • 20% → 6% for llamathena
  • 15% → 6% for RLUSD/USDC

Min Rate remains unchanged at 0.05%.

Motivation

The initial Quota Ranges were set to balance early demand with risk. Given current market conditions and to align with Gearbox’s broader strategy of making stablecoin leverage more attractive and predictable, a lower Max Rate is more appropriate.

Specification

Pool Token Old Max Rate New Max Rate Min Rate
DAI Convex-staked scrvUSD/sUSDe LP 20% 6% 0.05%
USDC Convex-staked scrvUSD/sUSDe LP 20% 6% 0.05%
USDT Convex-staked scrvUSD/sUSDe LP 20% 6% 0.05%
DOLA Convex-staked scrvUSD/sUSDe LP 20% 6% 0.05%
GHO Convex-staked scrvUSD/sUSDe LP 20% 6% 0.05%
DAI Convex-staked RLUSD/USDC LP 15% 6% 0.05%
USDC Convex-staked RLUSD/USDC LP 15% 6% 0.05%
USDT Convex-staked RLUSD/USDC LP 15% 6% 0.05%
DOLA Convex-staked RLUSD/USDC LP 15% 6% 0.05%
GHO Convex-staked RLUSD/USDC LP 15% 6% 0.05%

Other Parameters

This proposal modifies only the maxRate for the Convex-staked scrvUSD/sUSDe LP and RLUSD/USDC LP tokens, originally onboarded via [GIP-182] and [GIP-229], respectively.

All other parameters for these assets — including minRate, loan-to-value (LT), oracles, quota limits, and adapters — remain unchanged from their last configured state.

Off-Chain Vote

For
217.67M GEAR100%
Against
0 GEAR0%
Abstain
0 GEAR0%
Quorum:109%
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Timeline

Aug 25, 2025Proposal created
Aug 25, 2025Proposal vote started
Aug 28, 2025Proposal vote ended
Aug 28, 2025Proposal updated