PSM-USDC-A debt exposure is increasing at a pretty rapid pace and is at 2.4bn currently. About 300m was minted in just the last two days. I have to say it is a bit surprising considering prices are more or less flat lately. It seems there is an increased stablecoin demand in general and any upcoming price shock will only increase it further.
It feels the 600m buffer won’t be enough until the next possible executive vote becomes effective in about 10 days. At the same time the latest PSM debt ceiling poll shows support for a larger increase of PSM-USDC-A debt ceiling.
I’d propose to increase PSM-USDC-A DC for another 1bn today and hopefully that should be enough until we have a poll ended and make a final larger increase.