Since the last urgency exec raising the DC of ETH-A from 590 MM to 740 MM around 50% of the additional headroom has been consumed in the last 3 days, leaving us with a utilization of 90%. With the current growth rate, we are going to hit the DC around wednesday.
I would like to poll for two things here:
- changing the DC to allow more DAI from ETH-A.
- find out if we want to switch over to IAM for ETH-A
Changing the Debt Ceiling
- more fees collected
- more DAI in circulation
- I personally do not see any, as ETH is still the most liquid and robust asset-type we have in the portfolio, but I am happy to adjust here if people raise good points in the discussion
- even more (Rism team should decide)
- 1000 MM (+ 260 MM)
- 900 MM (+160 MM)
- 800 MM (+60 MM)
- 740 MM (no change)
The Poll will run until January 22th; 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 poll lead by the risk team, onchain-poll, urgency executive.
IAM for ETH-A
@LongForWisdom started a more formal with concrete next steps over here: [Signal Request] Rolling out the Debt Ceiling Instant Access Module (DC-IAM)
Please express your opinion over there!
IAM is already active for ETH-B and has been working quite good. I guess we don’t want to have executive votes for changing the ETH-A Debt Ceiling on a weekly basis, so maybe it is time to think about activating. I know that the idea isn’t new, but maybe it helps to find out if we as a community want to have it so the corresponding mandated actors feel empowered to move forward.
- fewer signals, on-chain-polls, execs working with the Debt Ceiling of ETH-A
- ETH-A is our biggest collateral-type, maybe it would be better to start with something smaller
Since IAM for ETH-A is planned anyway, I don’t think we need a corresponding on-chain-poll about it - but happy to move forward with this as well if needed. Nevertheless, this poll will also close on January 22th.