Request to raise Staked ETH DC to 50M

Request to raise Staked ETH DC to 50M

Risk and Protocol Engineering Core Units would like to put forward the following community request for raising the WSTETH-A debt ceiling from 5M to 50M.

The liquidation ratio of 160% and the stability fee of 4% can remain as they are today. These parameters can be expected to be updated by the Risk Team if/once we exceed a 100M DC.

Please voice any concerns or objections you may have to this proposal as GovAlpha will move this forward to an on-chain poll for MKR holders to vote on Monday 8th November.

34 Likes

No objections from Oracles.

13 Likes

I was just looking at this.

Thank you Nik for supporting. I want to see this more from CUs please. :slight_smile:

MakerMan delegate Supports.

4 Likes

No objections from Uncle

9 Likes

I want to highlight that we should probably make sure that the Curve ClipperCallee contract is live and integrated with the Auction-Demo-Keeper before we raise the ceilings substantially, to make sure stETH vaults can be easily liquidated. It’s complex to flash liquidate this specific vault, and I wouldn’t count on external keepers having updated their implementations just yet, so I think it is paramount that we have tools that are easy to spin up in case there’s a market crash.

7 Likes

This proposal passed its onchain poll yesterday! It is now bundled in the executive proposal currently up for voting. If this executive passes, the DC will be raised after the GSM Pause.