KVORUM
aaveSource: Aave governor v2 · #314

SupplyCapLSTs

defeatedSep 9, 2023, 04:16 AM UTCby320x329c…3ed4

01Summary

AISummary by Kvorumclaude-haiku-4-5

Proposal to increase supply caps for stMatic (57M to 66M, ~16% increase) and wstETH (3450 to 4125, ~19% increase) on AAVE Polygon V3 markets. Both tokens would reach 75% of their total supply after the increase. Aims to relieve current capacity constraints (stMatic at 95%, wstETH at 100% utilization) and improve user experience and TVL.

Type
parameter change

Key changes

  • Increase stMatic supply cap from 57M to 66M (~16% increase)(medium)
  • Increase wstETH supply cap from 3450 to 4125 (~19% increase)(medium)
  • Both tokens reach 75% of total supply threshold after adjustment(medium)

Notable concerns

  • stMatic currently at 95% utilization indicating high demand pressure
  • wstETH currently at 100% utilization completely blocking new deposits
  • Supply cap increases bring both tokens to 75% of total supply, leaving limited headroom for future growth
Contracts0x3a58a54c066fdc0f2d55fc9c89f0415c92ebf3c40x03b54a6e9a984069379fae1a4fc4dbae93b3bccd
Generated by Kvorum
model: claude-haiku-4-5
provider: anthropic
profile: anthropic-fast-v1
prompt: v1.0
generated: 2mo ago
Read the description ↗

02Description

232 words

Simple Summary

This proposal seeks to increase the supply cap for the wstETH and stMatic tokens on the AAVE Polygon V3 markets.

This proposal is compatible with the Direct-to-AIP framework.

Motivation

On the AAVE Polygon V3 market, the utilization of the supply cap reached 95% for stMatic and 100% for the wstETH, preventing the deposit of more assets for the latter. By augmenting those caps we would be helping the ecosystems that have been built around those products and increasing the user experience of the AAVE users, resulting in higher TVL and protocol revenue through the borrowing of WMatic and WETH.

The total supplies of those assets increased recently, which allows the adjustement of those caps while staying below 75% of the total supplies.

Specification

The following parameters would be modified for the stMatic and wstETH tokens:

TokenCurrent supply capProposed supply capIncreaseTotal SupplyTotal Supply (%)
stMatic Polygon V357M66M~16%88.9M75%
wstETH Polygon V334504125~19%5.5k75%

Contract:

  • stMatic Polygon: 0x3a58a54c066fdc0f2d55fc9c89f0415c92ebf3c4
  • wstETH Polygon: 0x03b54a6e9a984069379fae1a4fc4dbae93b3bccd

References

Copyright

Copyright and related rights waived via CC0.

03Mismatch analysis

AIMismatch analysis by Kvorum

A calldata-vs-description analysis is not generated yet. Review the decoded actions →

04Actions

1 total
#0execute(address)chain 0x1
Target
0x158a…d45b
Value
0 wei
Function
execute(address)
Arguments
{
  "0": "0x9951F4eEC081cE1BA383261b1aCB2711B5e7631b"
}
Calldata

05Tally

Summed from votes

Voters0
VP participating0
Outcome (current)—
Current support—

06Voters

0 total
Filter:
VoterChoice% of totalRationale
130x13bd…8548Against109K0.00%—3y ago
320x329c…3ed4For106.2K0.00%—3y ago
200x2079…d6ceAgainst101.2K0.00%—3y ago
B80xb83b…cf5cAgainst84.6K0.00%—3y ago
620x62a4…816aFor81.5K0.00%—3y ago
EA0xea17…6676Against46.5K0.00%—3y ago
570x57ab…2922For31.5K0.00%—3y ago
E40xe459…e666For20K0.00%—3y ago
180x1855…98baAgainst3K0.00%—3y ago
EZezr3al.eth0x8659…7d0eFor1.4K0.00%—3y ago
DF0xdf06…4977For27.30.00%—3y ago
EF0xef89…9bfcFor2.20.00%—3y ago
A70xa772…6171Against2.10.00%—3y ago
010x0151…c3b9For1.20.00%—3y ago
980x987f…e999For1.20.00%—3y ago
6C0x6cc8…903cFor10.00%—3y ago
890x894d…6892For10.00%—3y ago
F50xf5a1…6ba2For10.00%—3y ago
7E0x7e77…f7caFor0.60.00%—3y ago
AF0xaf4f…fae6For0.20.00%—3y ago
160x16a1…b354For0.10.00%—3y ago
500x50d2…5318For0.10.00%—3y ago
340x3496…126bFor0.10.00%—3y ago
800x8000…ca69For0.10.00%—3y ago
C60xc69a…b34cFor00.00%—3y ago
170x1708…ed53For00.00%—3y ago
9F0x9f3c…236aFor00.00%—3y ago
110x11b0…22a2For00.00%—3y ago
Showing 28

07Forum

No forum thread is confidently linked to this proposal.