Unutilized debt ceiling on stablecoins currently amounts to 90m (100m including USDT). DAI price seems to be more or less fixed around $1.01, but we shouldn’t underestimate new DAI demand from upcoming farms in the next few weeks. We learnt the lesson with SAFE when more than 170m DAI was drained out of liquidity venues in only a few days. We would also want to have an additional stablecoin debt ceiling buffer always ready that provides liquidity in an event of unwinding ETH and WBTC vaults due to an unexpected crash in crypto markets.
Question is by how much and if we want to increase the debt ceiling on stablecoins and how do we diversify stablecoin exposure. I also want to note that the community already voted to increase the PAX debt ceiling by at least 30m to 60m. There were some concerns on PAX DeFi liquidity and circulating supply, addressed by me here, therefore I suggest we increase it by only 30m at this stage.
- No increase of stablecoin DC
- Increase stablecoin DC by 100m
- Increase stablecoin DC by 200m
- Increase stablecoin DC by 300m
- No Increase of stablecoin DC
- Increase DC across USDC and TUSD by equal amounts, and limit PAX increase by 30m
- Increase DC for TUSD, and limit PAX increase by 30m
- Other - comment below
The Signal poll closes this Thursday and will proceed to Executive vote this Friday, 25th September.