create sccp-331

content/sccp/sccp-331.md

@@ -0,0 +1,37 @@
+---
+sccp: 331
+title: Increase Base USDC LP limit to 100m 
+type: Governance
+network: Base
+author: Cavalier
+status: Draft
+created: 2024-05-17
+---
+
+<!--You can leave these HTML comments in your merged SCCP and delete the visible duplicate text guides, they will not appear and may be helpful to refer to if you edit it again. This is the suggested template for new SCCPs. Note that an SCCP number will be assigned by an editor. When opening a pull request to submit your SCCP, please use an abbreviated title in the filename, `sccp-draft_title_abbrev.md`. The title should be 44 characters or less.-->
+
+## Simple Summary
+
+<!--"If you can't explain it simply, you don't understand it well enough." Provide a simplified and layman-accessible explanation of the SCCP.-->
+
+Raise the USDC liquidity cap on Andromeda to 100 million.
+
+## Abstract
+
+<!--A short (~200 word) description of the variable change proposed.-->
+Increase the limit of USDC LP cap to 100m by setting
+
+- `system.CoreProxy.configureMaximumMarketCollateral(uint128 marketId,address collateralType,uint256 amount)` = [1, 0x833589fCD6eDb6E08f4c7C32D4f71b54bdA02913, 100000000000000000000000000]
+- `spotFactory.SpotMarketProxy.setWrapper(uint128 marketId,address wrapCollateralType,uint256 maxWrappableAmount)` = [1, 0x833589fCD6eDb6E08f4c7C32D4f71b54bdA02913, 100000000000000000000000000]
+
+
+## Motivation
+
+<!--The motivation is critical for SCCPs that want to update variables within Synthetix. It should clearly explain why the existing variable is not incentive aligned. SCCP submissions without sufficient motivation may be rejected outright.-->
+
+The current $21.92m USDC LP cap has been progessively filled to 96%, and given the systems performance caps can be materially increased. Increased LP deposits increases potential Open Interest caps.
+
+
+## Copyright
+
+Copyright and related rights waived via [CC0](https://creativecommons.org/publicdomain/zero/1.0/).