Circle's motivation is one sided here: Increase the USDC supply at ALL COSTS. I mean yeah supply APR jumps from ~12% to ~48%. But borrow rate from 14% to ~53%! Great for new USDC suppliers. But current borrowers see their borrowing cost nearly 4x overnight. Those on tight LTV positions get REKT as interest accrues and liquidations will follow. And most of them are stuck borrowers already. They are thinking just about their bags.(Ignas | DeFi)