So I know we are right in the middle of a vote to determine what to do about the stablecoin vaults, but things are moving quickly and we have just had another wrench thrown into the spoke. It looks like the DsChief 1.2 upgrade will be consuming most of the executives until December 11th. As @LongForWisdom said in his reply, this upcoming week is likely the last place to put through changes.
We are still in the process of settling whether governance wants to proceed with Option 3 or the new PSM option that just came out this week. Regardless of the eventual outcome, we are racing against the clock here. If we want to proceed with the PSM instead of Option 3 we will likely want to have the CR on the leading stablecoin vaults be more than 100.2% or so to allow for a 0.1% profit to those wanting to move over to the PSM naturally. Additionally, even if we stick with Option 3 the timeline of doing an executive on December 11th was previously voted down and Dec 18th is problematic as it’s so close to the holidays. I’m unclear if MKR holders want to wait another week or two to maximize the fees. I’ll be running another governance vote soon to determine the Option 3 timeline, but due to this DsChief upgrade I believe it’s a good idea to lower the SFs on stablecoin vaults so we aren’t so rushed. We can always adjust them again later, so we will collect the fees one way or another.
Personally, I recommend we lower to at least 2% to put us at ~100.2% CR for December 18th.
Due to the time constraints, @LongForWisdom has okayed me to run this from today until Sunday followed by an on-chain vote Monday.
- No, leave them at 4%
- Yes, lower them to 3%
- Yes, lower them to 2%
- Yes, lower them to 1%
- Yes, lower them to 0%