[Signal Request] Adjust ETH-A DC-IAM-line (2021-05)

Overview

The appetite for ETH-A hasn’t slowed down, the current exec raising the line to 2.5B is most probably executed after we hit it.

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We should prepare for the next increase right now, as the procedure currently takes ~4 weeks before a change is getting into effect (~2 weeks for the signal, 1 week for the onchain poll, another week of waiting for the executive to get into effect).

Additionally, there is a poll running ending this week about raising the gap which might end up in even more DAI-per-DAI from ETH-A.

We already did quite a substantial raise in the last signal, this time I would like to also present an option that maybe does not seem irrational given we are not deciding for a DC, but for a line - going on a really high value so we don’t need to raise the ceiling for the sixth time within two months.

Changing the line for ETH-A

Pros:

  • more fees collected
  • more DAI in circulation
  • if we go with a really high line, we might not need to poll that often for increases → decreasing the risk on hitting the ceiling

Cons:

  • we raised the SF for ETH-A already twice this year (another increase going to an onchain poll today). If the appetite for ETH-A is not slowing down, we will end up in even higher SFs

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

  • 15 B (+12500 MM)
  • 10 B (+7500 MM)
  • 5 B (+2500 MM)
  • 3.5 B (+1000 MM)
  • 2.5 B (no change)
  • Abstain

0 voters

Next Steps

The Poll will run until 2021-03-11T14:00:00Z; 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.

5 Likes

I support a huge line, does not really matter if it is 10B or 15B.

DAI-from-ETH is still super popular - we can go crazy on the SF for ETH-A - but just capping it like we did with ETH-B is not an option.

We are doomed to grow at this point.

If ETH-C is a success a huge line is still not a bad thing. This is why we set up DC-IAM in the first place: to avoid micro governance.

2 Likes

THIS !! Wonderful problem!

1 Like

thanks everybody for voting on this signal request, poll is prepared and will get onchain on 2021-03-14T23:00:00Z

2 Likes

onchain poll is live since yesterday and will run untll 2021-03-18T16:00:00Z - please participate

5 Likes

next update: spell got scheduled and will get executed on 2021-03-24T13:07:00Z - we are going to have a new line of 15 Billion DAI for ETH-A.

I guess this will be the last SR for adjusting the ETH-A line for a while. Thanks everybody for participating and for not beeing too fed up my all my SR on that topic :slight_smile:

4 Likes