The Maker Foundation Interim Risk Team has placed an Executive Vote into the voting system, which will enable the community to approve the following alterations to the protocol:

• Raise the ETH Debt Ceiling by 20 million to 120 million

The Executive Vote (FAQ) will continue until the number of votes surpass the total in favor of the previous Executive Vote. This is a continuous approval vote.

Review

The currently proposed Debt Ceiling increase is no longer suitable to maintain a healthy Dai supply due to a midweek uptick in the price of ETH. This executive vote will invalidate the current poll and institute an immediate change to the ETH debt ceiling, raising it to 120 million Dai.

The MakerDAO community is moving forward with an Executive Vote to determine whether it will enact the changes established by the previous Governance Polls.

Action

Voting for this proposal will place your MKR in support of implementing the changes outlined above.

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Resources

Additional information about the Governance process can be found in the Governance Risk Framework: Governing MakerDAO

Demos, help and instructional material for the Governance Dashboard can be found at Awesome MakerDAO.

To participate in future Governance calls, please join us every Thursday at 16:00 UTC.

To add current and upcoming votes to your calendar, please see the MakerDAO Public Events Calendar.