I agree, it would be better to be able to vote on the exact amount with MKR (ideally as a repeatable ‘this is our debt ceiling policy from now on’ rather than as a one-off, and using ranked voting). But realistically, the executive is tomorrow. Is it technically possible to put a on-chain poll in tonight and have it finish tomorrow morning? Yes. Is it warranted? In this case, I don’t think it is.
I don’t think it’s warranted in this case because this is a very one-sided issue. I’m willing to go out on a limb and say that there is no valid argument for opposing a 10M raise as against no raise at all. The one con I could think of (the OSM attack vector mentioned above) is always a risk, and increasing the ceiling by 10M is a relatively small increase in risk that is entirely justified.
To be completely frank, I would have been happy if Cyrus or the Smart Contracts team just announced they were including it in the executive.
One can argue that rights or freedoms are being trampled on by doing governance in this way, but the thing to ultimately remember is that MKR Holders have the final say. Nothing we say or do here can change that. If MKR Holders HATED the idea of a 10M debt ceiling rise, then they could elect not to vote for the latest executive. I am literally the first person in line to oppose bundling, and I’ll happy spend hours trying to convince anyone who thinks it is a good idea that there are better solutions, but in this case it doesn’t matter, as this change is utterly non-controversial.
In conclusion I expected this to be a complete non-issue, the current result of the poll 21 for, and 1 against essentially shows that it is a complete non-issue. To be completely honest, I’m annoyed we spent so much time talking about it in the governance call, and I’m annoyed I had to make this poll. We are literally doing everything we can to increase the amount of DAI in circulation, there is no possible world in which we do a bunch of stuff to incentivise DAI minting and then decide not to increase the debt ceiling on ETH.
As to increasing it by more than 10M, well, sure we could have done that, but given the late hour, and the fact that everyone would rather see 10M raise than nothing at all, I think this is fine. Increasing it too heavily does meaningfully increase the OSM attack risk, so it makes sense to aim to keep this ~10-20mil over the current amount.