Summary
- UNI (Core Pool) - increase supply to 300,000
- WBETH (Core Pool) - increase borrow to 2,000
- TWT (DeFi Isolated Pool) - increase supply cap to 1,500,000
- TUSD (Core Pool) - Reduce CF to 0
Analysis
Supply and Borrow Cap Updates
UNI
The supply cap for UNI on Venus Core Pool is currently at 92% utilization.
The recent increase in UNI supply is mainly due to a single user supplying nearly 60K UNI tokens, amounting to nearly 37% of the total supply. The user is also supplying ~$550K in stablecoins, and borrowing $450K in stables against his collateral, leading to a health score of 1.46
Utilizing our supply cap methodology we recommend increasing the cap to 300K.
WBETH
The borrow cap for WBETH on Venus Core Pool is currently at 86% utilization.
Utilizing our supply and borrow cap methodology we recommend doubling the borrow cap, setting it at 2K WBETH
TWT
The supply cap for TWT on the Venus DeFi Isolated Pool is currently at 100% utilization.
The recent increase in TWT supply is mainly due to a single user supplying nearly ~223K TWT tokens. The user is currently borrowing ~$62K in USDT against his collateral, leading to a health score of 2.41
Utilizing our supply cap methodology we recommend increasing the cap to 1.5M.
Recommendations
| Current Supply Cap | Recommended Supply Cap | Current Borrow Cap | Recommended Borrow Cap | |
|---|---|---|---|---|
| UNI | 200,000 | 300,000 | 100,000 | No Change |
| WBETH | 40,000 | No Change | 1,000 | 2,000 |
| TWT | 1,000,000 | 1,500,000 | 500,000 | No Change |
TUSD
In continuation of our previous recommendation to reduce exposure to the TUSD market, we wish to update that after the implementation of VIP-240 on January 20th, over 4.5M supplied TUSD was redeemed and over 800K borrows were repaid.
In addition, only ~25K is currently being borrowed against TUSD collateral
At this time, as the peg has still not been restored, we recommend a conservative approach, setting the CF to 0, thus disabling further use of TUSD as collateral.
At this time, this will bring to 1 account being eligible for liquidation, with a total of ~$10 eligible for liquidation.
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