Simple Summary
Gauntlet recommends the following supply cap adjustments to the protocol:
Supply Caps
| Status | Comet | Collateral | Supply Cap |
|---|
| Current | Mainnet USDC | USDe | 30,000,000 |
| Proposed | Mainnet USDC | USDe | 15,000,000 |
| Current | Mainnet USDT | USDe | 30,000,000 |
| Proposed | Mainnet USDT | USDe | 15,000,000 |
Motivation
Since the initial listing parameter recommendations, the liquidity profile of USDe has changed on Mainnet. Onchain liquidity has declined over the last month with the main DEX pool (Fluid USDe/USDT) reducing by ~$30M.
Full details about these changes can be found below
https://www.comp.xyz/t/gauntlet-supply-cap-recommendation-for-usde-on-mainnet-usdc-usdt-comets-2026-02-26/7662
Note:
A deploy and upgrade action related the USDS Comet has been included in this proposal. This action originates from a previously passed proposal that executed the deploy and upgrade required before setting the market parameters for weETH on the USDS Comet.
It is included here solely to ensure the current supply cap recommendation can be properly implemented and does not introduce any new changes beyond what was already approved.
