The Governance Facilitator(s) and the MakerDAO Smart Contracts Domain Team have placed an Executive Vote into the voting system. MKR Holders should vote for this proposal if they support the following alterations to the Maker Protocol.

Activate Debt Ceiling Instant Access Module for ETH-A

Due to the recent usage of the ETH-A vault type and the need to frequently increase the Debt Ceiling, ETH-A is proposed to be added to the Debt Ceiling Instant Access Module (DC-IAM) as described here. If this proposal passes, the DC-IAM will be activated for ETH-A with the following parameters:

• Maximum Debt Ceiling (line): 1.5 billion DAI
• Target Available Debt (gap): 30 million DAI
• Ceiling Increase Cooldown (ttl): 12 hours

This proposal ties in with this ongoing signal request to adjust the ETH-A Debt Ceiling in the face of a continued increase in demand for the ETH-A vault-type.

Documentation covering the Debt Ceiling Instant Access Module can be found here.

Summary

Therefore, if this Executive proposal passes the following will occur:

• The DC-IAM will be activated for ETH-A with the parameters listed above.

This Executive Vote will continue until the number of votes in favor surpasses the votes in favor of the currently leading proposal. This is a continuous approval vote.

If this executive vote does not pass within 30 days then it will expire and have no effect on the Maker Protocol, even if it should later pass.

Review

Community debate on these topics can be found on the MakerDAO governance forum. Please review any linked threads to inform your position before voting.

Additionally, these changes may have been discussed further in recent Governance calls. Video for these calls is available to review.

Action

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

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Resources

If you are new to voting in the Maker Protocol, please see the voting guide to learn how voting works, and this wallet setup guide to set up your wallet to vote.

Additional information about the Governance process can be found in the Governance section of the MakerDAO community portal.

To participate in future Governance calls, please join us every Thursday at 17:00 UTC.

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