[Signal Request] Adjust COMP-A DC-IAM-line

Overview

We just reached the Maximum Debt Ceiling (line) for COMP-A of 10 MM that got acitvated in Feb 15 executive:

image

Changing the line for COMP-A

I want to signal for changing the line of COMP-A. We still have ~2MM of headroom left, but given the time we need to make changes happen, we better think about it now.

Pros:

  • more fees collected
  • more DAI in circulation

Cons:

  • we might need to increase the SF for COMP-A at some point

Please vote for all options you would support in an onchain poll

  • 10 MM (no change)
  • 15 MM (+5 MM)
  • 30 MM (+20 MM)
  • 50 MM (+40 MM)
  • Abstain

0 voters

Next Steps

The Poll will run until 2021-03-25T14:00:00Z; its outcome will either result in a on-chain-poll assuming the outcome of the poll deems it necessary or its intermediate results are going to be taken to another initiative - another signal, onchain-poll or urgency executive.

4 Likes

Aaaaand its gone. https://twitter.com/MakerDaiBot/status/1370427249204338688?s=20

2 Likes

noteworthy that ~99% of COMP-A-DAI is actually coming from this single vault
image

So based on liquidity levels of COMP (both chain and off-chain) we believe a 20m DC would be reasonable here if we want to keep rates at lower levels. Volume metrics did improve recently, or since we proposed 10m max DC for COMP in late January.

Potentially even 30m max DC is doable if collateralization ratio distribution doesn’t get much worse. The current collateralization is very healthy because we really have 1 user utilizing 99% of vault type with 320% CR. I may just want to note here that by increasing DC and potentially debt exposure along with it we might be forced to increase rate and this user might decide to switch to borrowing at Compound.

Also I think we should push this signal to end sooner so we can increase DC earlier.

6 Likes

in the meantime the large vault paid back a lot of DAI:

image

leaving us with 5MM headroom again

image

1 Like

aaaand it’s gone

1 Like

@tbone is the only one on the money here. :wink: He knows COMP folks have no need to mint DAI. They’re about to release their own stablecoin, “CASH”. My poll vote for +40MM was as bright as a 10-watt (10-volts) light bulb :bulb:

Good read T-Bone!

3 Likes

on-chain poll is live, please vote until 2021-04-01T16:00:00Z

2 Likes

Final Update: the exec containing the raise got scheduled - we are going to have a 30 MM line of COMP-A on 2021-04-11T00:00:00Z

1 Like

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