Gearbox DAO

This proposal suggests changing the limits for the current setup on Mainnet.

Usage of quotas

About 2.5 months have already passed since the launch of v3 on the Mainnet, so I would like to analyze which assets are in demand and which are not. As you remember, gearbox v3 has quota functionality for each asset, which allows to manage how much money from the pool will be allocated to the asset. This allows to properly manage risk in the protocol.

Current allocation of funds in Credit Accounts are shown in image below (you can check yourself in Dune). The main use case now is LSD and LRT (which is obvious due to the hype of recent weeks): ~50M in weETH, ~40M in ezETH, ~3.5M in stETH. We also see that WBTC, USDC, WETH are used (for PURE).

However, it is interesting to analyze other assets - whether they are in demand at all. It can be seen that LINK, UNI, LDO, CVX are also used as trading assets, but their volume is limited to 0.5M in total (you can check current Quota limits here)

Therefore it is proposed to reduce the max quota Limit for Tier 2,3 assets following this table:

	for USDC POOL	for WBTC pool	For WETH pool
MKR	500,000 USDC	7.5 WBTC	135 WETH
UNI	500,000 USDC	7.5 WBTC	135 WETH
LINK	500,000 USDC	7.5 WBTC	135 WETH
LDO	500,000 USDC	7.5 WBTC	135 WETH
CRV	200,000 USDC	3 WBTC	55 WETH
CVX	200,000 USDC	3 WBTC	55 WETH

Also, due to the lack of demand, it is proposed to set a Quota Limits for APE and FXS to 0 for USDC,WBTC,WETH pools.

Boosting LRTs

Now weETH and ezETH limits are used on 75%+ in WETH Credit Manager. Therefore a further increase in the limit on weETH and ezETH is proposed. But due to the large allocation of funds to LRT, it is proposed to take into account the depth of liquidity for each of the LRTs. Of course, a withdrawal despite a delay of 7 days will be a good arbitrage opportunity, however, due to the delay there may be short-term price fluctuations, so deeper liquidity is a plus. Below you can see selling pressure that leads to 1% price impact on Mainnet:

Price impact	weETH	ezETH
1%	6,965 eth	11,660 eth

* 1inch is used to define price impact

1. It is proposed to set quota limits not exceeding x3 of the available liquidity on DEXs. Accordingly, the maximum quota limit for weETH will be 21,000 eth, for ezETH 35,000 eth.
2. It is proposed to increase the Quota Limit for each asset gradually, increment step is 5,000 eth. Quota Limit within values at p.1 can be increased by Technical Multisig as soon as Quota Usage reaches 80%+.

Voting

Simple Approve/Reject voting