MaticX Supply Cap Increase in Polygon V3
MaticX Supply Cap Increase in Polygon V3
Author
Aave Chan Initiative (ACI)
Creator
0x57ab7ee15cE5ECacB1aB84EE42D5A9d0d8112922
Simple Summary
This proposal aims to increase the MaticX Supply Cap on Polygon V3 to match market demand.
Motivation
Increasing the supply cap of Polygon MaticX in the Aave market is a strategic move to accommodate growing demand, and follow a previous DAO decision to maintain aggressive supply caps for correlated assets.
Deposits of MaticX have been over 95% of the supply cap for some time. Increasing the Supply Cap will enable users to continue depositing MaticX and enter the recursive MaticX/wMATIC yield strategy.
The DAO has previously voted to allow assets with correlated borrow supply caps to be up to 75% of cumulative supply. Since this exceeds the supply cap increase allowable by risk stewards, this proposal will increase supply caps through the typical ARFC process. Current circulating supply is over 100M, so this proposal will increase the supply cap to 75M.
Specification
Increase the supply cap for MaticX on Polygon V3 to the following.
Parameter | Current Value | Proposed Value |
---|---|---|
SupplyCap | 62M | 75M |
Useful Links
References
- Implementation: AaveV3Polygon
- Tests: AaveV3Polygon
- Snapshot
- Discussion
Copyright
Copyright and related rights waived via CC0.