Gearbox DAO

Summary

This proposal reduces the Quota Range for two existing Convex LP collateral tokens across all Gearbox stablecoin pools:

• Convex-staked scrvUSD/sUSDe LP (“llamathena”)
• Convex-staked RLUSD/USDC LP

The Max Rate is reduced from:

• 20% → 6% for llamathena
• 15% → 6% for RLUSD/USDC

Min Rate remains unchanged at 0.05%.

Motivation

The initial Quota Ranges were set to balance early demand with risk. Given current market conditions and to align with Gearbox’s broader strategy of making stablecoin leverage more attractive and predictable, a lower Max Rate is more appropriate.

Specification

Pool	Token	Old Max Rate	New Max Rate	Min Rate
DAI	Convex-staked scrvUSD/sUSDe LP	20%	6%	0.05%
USDC	Convex-staked scrvUSD/sUSDe LP	20%	6%	0.05%
USDT	Convex-staked scrvUSD/sUSDe LP	20%	6%	0.05%
DOLA	Convex-staked scrvUSD/sUSDe LP	20%	6%	0.05%
GHO	Convex-staked scrvUSD/sUSDe LP	20%	6%	0.05%
DAI	Convex-staked RLUSD/USDC LP	15%	6%	0.05%
USDC	Convex-staked RLUSD/USDC LP	15%	6%	0.05%
USDT	Convex-staked RLUSD/USDC LP	15%	6%	0.05%
DOLA	Convex-staked RLUSD/USDC LP	15%	6%	0.05%
GHO	Convex-staked RLUSD/USDC LP	15%	6%	0.05%

Other Parameters

This proposal modifies only the maxRate for the Convex-staked scrvUSD/sUSDe LP and RLUSD/USDC LP tokens, originally onboarded via [GIP-182] and [GIP-229], respectively.

All other parameters for these assets — including minRate, loan-to-value (LT), oracles, quota limits, and adapters — remain unchanged from their last configured state.