An on-chain executive vote will be created by the Interim Governance Facilitator at any time the difference between the Dai Supply and the Debt Ceiling is less than 10 million, (even if only for one block.)

The Interim Governance Facilitator should aim to create this executive vote within a week of the difference falling below 10 million.

Like any executive vote, the passing of each individual debt-ceiling increase will require the ratification of MKR Token Holders.

This mandate will expire upon the ‘official’ launch of MCD (as determined by the Maker Foundation), regardless of which date this falls upon.

Signal your support at vote.makerdao.com.