PANews reported on April 23 that Circle's Chief Economist, Gordon Liao, initiated a proposal on the Aave governance forum to urgently adjust the USDC interest rate parameters in the Aave V3 Ethereum main pool. This is to address the extremely high pool utilization rate of 99.87% for four consecutive days following the KelpDAO attack. Liao stated that the current interest rate mechanism has failed to effectively clear the market; the pool's supply and borrowing size are both $1.89 billion, with available liquidity less than $3 million. The pool size has shrunk by approximately $60 million in the past 24 hours.

Liao recommends immediately increasing the Slope 2 parameter in the USDC deposit rate curve from approximately 10% to 40% through the Risk Steward mechanism, and further increasing it to 50% within 5 to 7 days through a governance vote. Simultaneously, the optimal utilization rate should be initially lowered from 92% to 87%, and ultimately to 85%. Under the new parameters, when utilization reaches 100%, the highest USDC deposit rate will increase from approximately 12.6% to 48.2%.