[Signal Request] Should we raise the ETH debt ceiling?

We are getting close to the ETH debt ceiling again (154 mil / 160 mil as of this writing). Given the uncertainty around the Dai peg, the community may want to consider raising the debt ceiling again. Please weigh in on what you feel is right given the current environment. The results of the poll will be included either in Friday’s executive or as part of an expedited executive vote if necessary.

What should the new ETH debt ceiling be?

  • 160 million (NO CHANGE)
  • 170 million
  • 175 million
  • 180 million
  • 185 million
  • Abstain / Show results

0 voters

EDIT / SUMMARY: 180 million was the winning poll option, and as a result has been placed in today’s Executive Vote.

3 Likes

I also think that an ETH B vault should be created with a higher stability fee and lower liquidation ratio that would provide excess liquidity during times it is needed. Perhaps a ceiling of 25-50 Million is appropriate for the debt ceiling on ETH B stability fee 20%?

3 Likes

No-one will touch this at that rate. I don’t care what the LR is.

I do like the idea of having multiple facilities for collateral with increasing fees though since as one fills up we can see if they will take any on the next with the higher fee. It would help us decide what is the optimal fee to either generate more use or reduce it on each collateral type.

1 Like

We’re still seeing strong demand for the ETH-A Vault, seems like a good idea to raise the debt ceiling for that. And to keep the 0% RP considering the current situation.

3 Likes

I disagree. If the choice is get liquidated, pay $1.15 for Dai to try and close out debt from your vault, or mint Dai at 20% stability fee for ETH until the system settles down you will definitely be minting Dai using the ETH B vault. This takes place in cases where “ETH A” is at the debt ceiling. It is simply available to provide liquidity during emergencies.

7 Likes

We should start the ETH B vault.

1 Like

We should lower the LR for ETH-A to 101% and set its DC to 300M.

well, if anything that would be a great way to test the Keeper system :confused:

Any technical reason why the description is

and not

Simple typo or more complicated reason ?

Because its saying that we’re raising the limit by 20M to 180M.

2 Likes

@MakerMan I would love to hear your thoughts very specifically on this point. Can you elaborate a little further on what definition of optimal you are looking for in here?

Can we have a new vote, please? We are at 92% utilization. This is getting absurd - can’t we set a higher ETH DC (300M, 400M) so that we don’t waste gas every few days?

1 Like

We really need to start collecting some fees, we are clearly unsustainable atm. Buffer at 260k is laughable.

Even if there is no consensus for ETH-A (i would go with 0.25p), we could increase it for BAT and WBTC.

2 Likes

Although I agree I don’t think it will have a significant impact if we exclude ETH, perhaps once we apply the PSM assuming it’s a success we can increase the base rate 0,25%

1 Like

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