The Protocol Engineering Core Unit is preparing a new PAX PSM deployment for this week’s executive. This deployment has required the modification of some code from the existing USDC PSM deployment.
Due to the new code and recency of the changes, we will be proposing the initial debt ceiling be set to 50 million Dai during the initial deployment period. These changes are fairly low impact and we can be reasonably assured that we’ll be able to raise the debt ceiling to the full 500 million requested in the next executive after a short burn-in period. For safety we would prefer that new code have some time to settle in at a value within the surplus buffer limit.
These changes have been discussed and agreed to by GovAlpha and BizDev facilitators.
Your Friendly Neighborhood Protocol Engineering Core Unit