Overview
We will switch over to DC-IAM for ETH-A tomorrow at 3pm UTC with a initial line of 1.5B.
Nevertheless, given the current appetite for DAI-from-ETH-A - it could be quite possible that we are going to hit 1.5B very soon. Theoretically the DC can get raised through DC-IAM] every 12h by 30M, bringing us to 1.5B in ~9 days.
There is already a onchain-poll about creating an alternative to ETH-A with a higher LR that would have less risk on our side and a lower SF, so hopefully a big portion of the ETH-A vaults that are heavily overcollateralized switch over here. But there is no timeline on when this gets implemented.
The big upside on DC-IAM: even if ETH-C gets implemented really fast, we can set the line a lot higher than actually needed. But with the current `line, we are limited to 1.5B
Changing the Debt Ceiling
Pros:
- more fees collected
- more DAI in circulation
Cons:
- @Risk already mentioned that we need to increase the SF of ETH-A a lot if the appetite for DAI-from-ETH-A is not cooling down. The current rates-proposal already raises the SF by 1%, but this is clearly not enough
Please vote for all options you would support in an onchain poll
- 2500 MM (+ 1000 MM)
- 2000 MM (+ 500 MM)
- 1750 MM (+ 250 MM)
- 1500 MM (no change)
- Abstain
0 voters
Next Steps
The Poll will run until February 11th 18th; 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.
please participate