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[GIP-110] Increasing Ethena Caps

Voting ended almost 2 years agoSucceeded

This proposal offers an increase of USDe limits in Gearbox pools. As you can see in the image below, the current Quota usage for USDe has reached maximum with the exception of newly launched pools USDT and GHO:

Screenshot 2024-04-02 at 22.45.40.png

With the launch of the Ethena’s Season 2, seems demand for Ethena strategies will only increase.

Based on the above, it is proposed to increase the limit on USDe and borrowing limit for Tier 1 Credit Managers of each pool:

Pool Current Quota Limit New Quota Limit New Borrowing Limit for Tier 1 CM
USDC 40M USDC 80M USDC 100M USDC
DAI 5M DAI 10M DAI 20M DAI
GHO 5M GHO 10M GHO 20M GHO
USDT 5M USDT 10M USDC 20M USDC

Technical Multisig can do Quota Limits and Borrowing Limit changes gradually or one-time at its own discretion.

Voting

Simple Approve/Reject

Off-Chain Vote

Approve
370.48M GEAR100%
Reject
20K GEAR0%
Quorum:185%
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Discussion

Gearbox[GIP-110] Increasing Ethena Caps

Timeline

Apr 02, 2024Proposal created
Apr 02, 2024Proposal vote started
Apr 05, 2024Proposal vote ended
Mar 03, 2026Proposal updated