[Signal Request] Adjust ETH-B Debt Ceiling


ETH-B is currently at ~77% utilization, most probably due to more demand on high leverage ETH. Currently the Debt Ceiling is set to 10 MM. This poll is about changing the DC to allow more DAI from ETH-B


  • more fees collected
  • more DAI in circulation


  • Increased exposure to ETH volatility

Ceiling adjustment

Here are a few polling options with +50%, +100%, +200%

  • 30 MM
  • 20 MM
  • 15 MM
  • 10 MM (no change)
  • Abstain

0 voters

Next Steps

Poll will run until December 2nd and depending on the result will move on-chain assuming the outcome of the poll deems it necessary


I have to admit i do not feel too comfortable with going for a higher DC:


looks like the keepers helping on ETH-A do not necessarily work on ETH-B as well.


We’re not able to do an executive on the 4th anyway. Given that’s the case, and that we should maybe look into the keeper performance some. Maybe the signal should be extended until next Wednesday or Thursday?

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Adjusted, thanks

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This poll closes today. It would be great if we could get some more voters, and potentially reach a more clear outcome. At time of writing 20MM and 30MM are tied at 51%.


I voted that I wasn’t comfortable with an increase to 30MM. I’m all for increasing the DC if there is demonstrated demand (77% seems to be on the cusp of that), but I think we need to exercise more caution with the more leveraged offerings. To me, anything more than doubling the current debt ceiling seems a little irresponsible, especially given the volatility in ETH over the last couple weeks. Just thought it would be worthwhile to explain my reasoning with the 30 and 20MM options being so close together.


Cool thanks for the 20MM vote–preferably I would like to see the Community focus on getting more folks to use the GUSD, PAX-A, BAL, and KNC Vaults. I mean the fact BAL Vaults are a ghost town tells us that BAL folks don’t have much appetite for DAI and prefer to stay on Balancer mining BAL. Why mint DAI at 5%? – I don’t know. But BAL is at that point/moment where it’s gotten battle tested and it’s popularity should increase IMO… but what about opening some Vaults using BAL? How do we make that a “thing”

@ElProgreso Well, it’ll be interesting if we can get the 80/20 Balancer pool to work and distribute rewards in a maker vault. Yeah, it doesn’t make that much sense to open a vault with BAL considering their staking incentives.

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Thanks for your participation in this poll, increasing to 20 MM has won.

Will set up a PR to get this to an onchain poll next monday. See you there :wink:


My baby’s growing up :joy:


onchain poll is live, running until this Thursday 16oo CET. go voting :slight_smile:

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quick update: the onchain poll did get confirmed with a good majority of the votes, however as IAM for ETH-B has been part of the current exec, the DC is not going to get raised. Instead IAM is getting activated with a DC of 50 MM. The exec has just been scheduled and will get executed on monday.


I just found DAI AVAILABLE of ETH-B is 0. So why we use such a vault which is actually often lack of DAI to borrow? So confused!
You may mark a vault as yellow or even red to alert users to select it. Or you can even make it automatically shut down from new vault when there’s not much DAI available, lets say 15 percent left. But, anyway, you can not make decisions this way. This is a terrible way!

right now there is ~52k of DAI available for ETH-B vaults and as soon as the new exec is executed (11:05 UTC today) everybody can increase the DC of ETH-B until the DC is at 50 MM.

activating IAM for ETH-B is the test-run to have it (potentially) activated for any kind of vault-type, and i bet the IAM-DC for ETH-B is getting increased through another exec as soon as the DC is about to get hit again.

50MM for ETH-B is quite high already. Even though there’s limited OSM risk, there’s still liquidation risk.

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@ChrisB is in charge of this.

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Thanks @Aaron_Bartsch for the ping.

@Derek98 - I’m not sure I totally follow what you are suggesting? Do you mean to make it more obvious to the user that there is not much Dai available? Given it’s difficult to know what a user wants to do with it, or how much they might even want - I’m not sure how such a flag would be any more helpful than showing the amount (as we currently do), which is very flexible anyway, as it could massively increase in the next few minutes again, or even if there is lots left when you open a Vault - it could disappear very quickly anyway.

I get that if it’s 0 (or less than dust) it should be disabled, that we can add very easily (and not hidden - otherwise we will just get questions asking where it is).

Most importantly, use more algorithms but not human beings’ meetings/discussions to manage vaults. There’re more and more automatic vault management tools and they need fast solution when ETH’s price drops or increases pretty fast. You definitely know how blockchain market is sophisticated today.
Marking it yellow or red is a common way to help users to make a better choice, when a vault is almost drain.
If there’re no DAI available then it should be listed with some striking signal and should stop a newbie to set up his/her new vault.
Once I’d created a vault (with a little bit DAI generated) and then found no more DAI available but my collateral ratio was pretty high. There’s another time when I was trying to generate some DAI, it showed me a negetive number! It’s unbelievable weired.
And I guess when there’s no enought DAI, then all automatic management tools (of vault), like DeFiSaver, will fail to increase your users’ leverage.
So solid debt ceiling for every single vault is a bad solution. Even if you insist on a global debt ceiling, make every single vault automatically changable with some regulation rules. Rules controlled by algorithm but not human being’s meetings!
Remember you can use algorithms to make your project much better!
Thanks and good luck!

Can I ask about ETH-B debt ceiling, how it works? Yesterday it was about 15M, and out of a sudden I saw on daistats it became 18.47M.

How come the DC can suddenly increase? And why the DC is not the usual round numbers, like 20M etc

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Brush up your skills on the DC-IAM MIP27: Debt Ceiling Instant Access Module

Once you’re done there will be a Quiz. Minimum score is 70% :wink: