Simple Summary

The current cap was configured to sUSD 30 million in SCCP-85 of which sUSD 28 million is currently utilized in shorts and borrows, so there is not much room for new users to take loans or shorts.

Abstract

The cap can safely be increased to sUSD 40 million to allow more users to take loans and shorts.

Motivation

The cap of sUSD 30 million has almost been reached. Given that we want to promote using the new shorting mechanism as a longterm replacement for iSynths staking, increasing the cap gradually we approach full utilization would be the prudent approach. The breakdown of the program is as follows:

CCY sUSD Debt % of Total
Total Borrows $9M 32%
sUSD Against ETH $4.4M 16%
sBTC against renBTC $25k 0%
sUSD against renBTC $4.6M 17%
Total Shorts $18.7M 68%
sBTC $9.5M 34%
sETH $9.2M 33%
Total $27.7M 93% Utilization

Want to take the opportunity to mention that the loan program which can be accessed on this portal now display the liquidation price on shorts. Thank you Mitch!

Copyright and related rights waived via CC0.