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

Overview

We just reached the Maximum Debt Ceiling (line) for ZRX-A of 5 MM that got acitvated in Feb 23 executive:

image

Changing the line for ZRX-A

I want to signal for changing the line of ZRX-A. We just have a headroom of <200k left, so we need to make a decision now.

Pros:

  • more fees collected
  • more DAI in circulation

Cons:

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

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

  • 5 MM (no change)
  • 10 MM (+5 MM)
  • 30 MM (+25 MM)
  • 50 MM (+45 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

I voted for raise, since my understanding is that this is solid defi project. But maybe someone can provide some information on current state of the protocol. Is the underlying (potential) value growing? Protocol usage, revenue, sustainability, tail risks etc.

1 Like

Similarly as for COMP, our models show increased liquidity for ZRX since the time we initially proposed DC-IAM, which justifies max. DC increase, even up to 20m in total DC. Despite the model favoring DEX volumes to decide on DC, it seems there was huge increase of CEX volume early in February and this is why we are getting a bit high max DC of 20m for ZRX compared to our originally proposed 5m (on one day in February there was $1.2bn ZRX traded on centralized exchanges). We therefore believe to take caution here as the volume spike might be temporary and we propose increase of 5m to 10m max DC in total for ZRX-A for the time being. It is also questionable how much demand this vault type really attracts as there is single borrower utilizing 85% of vault type.

Same as for COMP-A signal, we may want to speed up DC change for ZRX-A or in other words try to shorten this signal for at least a week.

4 Likes

Polled for 25M to 50M–IMO, the 0x Community is on a mission:

image

2 Likes

thanks everybody for participating in this Signal Request - the corresponding 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 10 MM line for ZRX-A on 2021-04-11T00:00:00Z

1 Like

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