Summary

This proposal performs eleven Ethereum actions:

1. Reduce base withdrawal limits on legacy vaults 1–10 to roughly current supply (+~5%).
2. Restrict base withdrawal limits on the sUSDS sunset vaults (58 and 85) to current supply.
3. Tighten Liquidity Layer borrow limits across 54 vaults (expand window 6h → 3h).
4. Tighten smart-debt limits on the USDC-USDT DEX (id 2) (expand window 6h → 3h).
5. Tighten smart-debt limits on the USDC-USDT DEX (id 34) (expand window 6h → 3h).
6. Tighten smart-debt limits on the GHO-USDC DEX (id 4) (expand window 6h → 3h).
7. Cap the fsUSDs fToken base withdrawal limit to total supply + 10%.
8. Set max supply shares to 0 on the USR-USDC DEX (id 20) and RLP-USDC DEX (id 28).
9. Set dust limits on the reUSD-USDT / USDC-USDT vault (id 170) and reUSD / GHO-USDC vault (id 181), and grant Team Multisig auth.
10. Raise the USDai-USDC market (DEX 47 + T2 vault 180) from dust limits (IGP-134) to launch limits, then remove Team Multisig auth on both.
11. Reduce the USDC-USDT DEX (id 2) max borrow cap to ~$45M (from ~$110M).

Code Changes

Action 1: Reduce Legacy Vault 1–10 Base Withdrawal Limits

Tightens base withdrawal limits on legacy vaults 1–10 down to roughly each vault's current total supply (+~5% headroom), with the max-restricted expand percent / duration.

• Vaults 1–2 (ETH), 3–5 (wstETH), 6 (weETH), 7–8 (sUSDe), 9–10 (weETH).

Action 2: Restrict sUSDS Sunset Vault Withdrawal Limits

Restricts base withdrawal limits on the sunset vaults to their current supply.

• Vault 58 (sUSDs), vault 85 (wstETH).

Action 3: Tighten Liquidity Layer Borrow Limits (54 Vaults)

Resets UserBorrowConfig for 54 Ethereum vaults, shrinking the expand window from 6h to 3h and lowering base/max debt ceilings. Targets are set in rounded USD and resolved to each borrow token's raw amount via the live exchange price.

• Most vaults are reset to ~$2.5M base / ~$25M max; others land at ~$1M / ~$10M, ~$1M / ~$2.5M, or ~$100K / ~$1M.
• Vaults covered: 16, 17, 18, 19, 20, 26, 27, 32, 56, 57, 74, 80, 92, 93, 94, 96, 97, 103, 104, 107, 108, 109, 114, 115, 116, 117, 118, 119, 120, 121, 122, 123, 124, 130, 137, 138, 140, 141, 145, 146, 147, 148, 149, 150, 151, 152, 153, 154, 155, 159, 160, 161, 162, 164.

Action 4: Tighten Smart-Debt Limits on USDC-USDT DEX (id 2)

Lowers borrow limits (expand window 3h) on vaults borrowing from the USDC-USDT DEX:

• Vaults 47, 50, 98, 99: ~$2.5M base / ~$25M max
• Vault 156: ~$100K / ~$1M
• Vault 163: ~$2.5M / ~$20M

Action 5: Tighten Smart-Debt Limits on USDC-USDT DEX (id 34)

Lowers borrow limits (expand window 3h):

• Vaults 126, 127: ~$2.5M base / ~$50M max
• Vault 157: ~$100K / ~$1M

Action 6: Tighten Smart-Debt Limits on GHO-USDC DEX (id 4)

Lowers borrow limits (expand window 3h):

• Vault 61: ~$2.5M base / ~$25M max
• Vault 125: ~$1M / ~$25M
• Vault 139: ~$1M / ~$10M

Action 7: Cap fsUSDs Base Withdrawal Limit

Caps the fsUSDs fToken's base withdrawal limit on the Liquidity Layer to total supply + 10% (a fixed limit of ~5,500 sUSDs). The existing mode and expansion (percent / duration) are preserved.

Action 8: Set USR and RLP DEX Max Supply Shares to 0

• USR-USDC DEX (id 20) and RLP-USDC DEX (id 28): max supply shares set to 0.
• Prevents new supply on these DEXes while existing LPs retain withdrawal access.

Action 9: Set Dust Limits for reUSD Vaults (ids 170, 181)

Introduces the new reUSD vaults at dust limits (30% expand / 6h) and grants Team Multisig auth on each.

• Vault 170 (reUSD-USDT / USDC-USDT, TYPE_4): supply dust limit ~$7k (collateral DEX 44); borrow dust limit ~$7k base / ~$9k max (debt DEX 2).
• Vault 181 (reUSD / GHO-USDC, TYPE_3): supply dust limit ~$7k; borrow dust limit ~$7k base / ~$9k max (debt DEX 4).

Action 10: USDai-USDC Market Launch Limits + Remove Team MS Auth

Raises the USDai-USDC market from the dust limits set in IGP-134 to launch-scale limits and removes the Team Multisig auth.

• USDai-USDC DEX (id 47): per-token limit ~$5M; remove Team Multisig auth.
• USDai-USDC / USDC vault (id 180, TYPE_2): USDC borrow ~$5M base / ~$10M max (smart col at DEX 47); remove Team Multisig auth. No supply-side limits are set.

Action 11: Reduce USDC-USDT DEX (id 2) Max Borrow Cap

• Lowers the USDC-USDT DEX (id 2) max borrow cap to ~$45M (from ~$110M).

Description

Actions 1–7 reduce withdrawal headroom on legacy and sunset vaults, shrink borrow limits and expansion windows across vaults and DEXes, and cap the fsUSDs withdrawal limit. Action 8 sets max supply shares to 0 on the USR-USDC and RLP-USDC DEXes. Action 9 introduces the new reUSD vaults (170, 181) at dust limits with Team Multisig auth. Action 10 launches the USDai-USDC market (DEX 47 + T2 vault 180) from dust to launch limits and removes the Team Multisig auth retained in IGP-134. Action 11 reduces the USDC-USDT DEX (id 2) max borrow cap to ~$45M.

Conclusion

IGP-135 tightens supply and borrow limits across legacy/sunset vaults, DEXes, and the fsUSDs fToken, sets USR/RLP DEX max supply shares to 0, sets dust limits on the reUSD vaults (170 and 181), launches the USDai-USDC market (DEX 47 + T2 vault 180) to launch-scale limits while removing Team Multisig auth on both, and reduces the USDC-USDT DEX (id 2) max borrow cap to ~$45M (from ~$110M).