SCCP-319: Increase Base LP limit to 21.92m USDC

Author
Noisekit
StatusImplemented
TypeGovernance
NetworkBase
ImplementorTBD
ReleaseTBD
ProposalLoading status...
Created2024-02-15

Simple Summary

Increase the maximum amount of liquidity that can be provided to Base Andromeda to 21.92m USDC.

Abstract

Increase maximum USDC LP cap from $10m to $21.92m by setting

  • system.CoreProxy.configureMaximumMarketCollateral(uint128 marketId,address collateralType,uint256 amount) = [1, 0x833589fCD6eDb6E08f4c7C32D4f71b54bdA02913, 21920000000000000000000000]
  • spotFactory.SpotMarketProxy.setWrapper(uint128 marketId,address wrapCollateralType,uint256 maxWrappableAmount) = [1, 0x833589fCD6eDb6E08f4c7C32D4f71b54bdA02913, 21920000000000000000000000]

Motivation

Base Andromeda has been operating in since early December and is ready to be scaled up further. The current $10m USDC LP cap has been filled and stable. With increasing LP, the OI caps can be increased.

Copyright and related rights waived via CC0.