As mentioned in the Rate Changes Proposal post, we are proposing debt ceiling changes based for particular vault types based on worsened or improved liquidity metrics.
BAT-A: Decrease DC from 10m DAI to 2m DAI
MANA-A: Increase DC from 250.000 DAI to 1m DAI
We also feel the debt ceiling should be increased for LINK-A where utilization stands at 86% and larger refinancing might follow from Aave since the rate at Maker is much more competitive.
WBTC-A debt exposure also seems to be increasing and is at 76% debt utilization and therefore we are proposing a 50m DC increase for WBTC-A vault type.
As for ETH-B vaults where DC is currently almost fully utilized, I described here why I think we shouldn’t be increasing DC at this point.
ETH-A has about 144m of buffer left which might be enough if we don’t see another price run-up from these levels. There is also a pending Signal Request for adjusting ETH-A DC.
TUSD-A Signal Request is also looking to be in favour of setting DC to 0, which means that the winning vote will go into on-chain poll next week.
Proposed Debt Ceiling changes:
ETH-A: + 260m or based on winning vote according to Signal Request (1bn DC)
WBTC-A: + 50m (210m DC)
TUSD-A: - 135m or based on winning vote according to Signal Request (0m DC)
LINK-A: + 10m (20m DC)
BAT-A: - 8m (2m DC)
MANA-A: + 750k (1m DC)
- No - Comment below
Please vote on proposed changes and provide feedback below. The vote ends this Friday 15th January 2021. If the proposal is accepted, the changes will go into next week’s on-chain poll. If the situation becomes urgent by maxing out ETH-A or WBTC-A debt ceilings, an urgent executive will be considered.