Increase YFI-A Debt Ceiling, Increase Dust Parameter for all Vault-Types

20 November 2020

The Governance Facilitators and the Maker Foundation Smart Contracts Team have placed an Executive Vote into the voting system which will enable the community to approve the following alterations to the protocol.

Increase YFI-A Debt Ceiling

As per this recent poll, the YFI-A Debt Ceiling will be increased from 7 million DAI to 20 million DAI if this proposal is successful.

Please see this signal request for discussion around this change.

Increase Dust Parameter for all Vault-Types

As per this recent poll, the dust (Debt Floor) parameter will be increased from 100 DAI to 500 DAI if this proposal passes.

Please see this signal request and this forum post for details and discussion around this change.

Summary

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

  • The YFI-A Debt Ceiling will increase from 7 million DAI to 20 million DAI.
  • The Global line parameter will increase from 1,468,750,000 DAI to 1,481,750,000 DAI due to the change to the YFI-A debt ceiling.
  • The ETH-A Debt Floor (dust) Parameter will increase from 100 DAI to 500 DAI
  • The USDC-A Debt Floor (dust) Parameter will increase from 100 DAI to 500 DAI
  • The WBTC-A Debt Floor (dust) Parameter will increase from 100 DAI to 500 DAI
  • The TUSD-A Debt Floor (dust) Parameter will increase from 100 DAI to 500 DAI
  • The PAXUSD-A Debt Floor (dust) Parameter will increase from 100 DAI to 500 DAI
  • The YFI-A Debt Floor (dust) Parameter will increase from 100 DAI to 500 DAI
  • The LINK-A Debt Floor (dust) Parameter will increase from 100 DAI to 500 DAI
  • The BAT-A Debt Floor (dust) Parameter will increase from 100 DAI to 500 DAI
  • The ETH-B Debt Floor (dust) Parameter will increase from 100 DAI to 500 DAI
  • The LRC-A Debt Floor (dust) Parameter will increase from 100 DAI to 500 DAI
  • The MANA-A Debt Floor (dust) Parameter will increase from 100 DAI to 500 DAI
  • The ZRX-A Debt Floor (dust) Parameter will increase from 100 DAI to 500 DAI
  • The KNC-A Debt Floor (dust) Parameter will increase from 100 DAI to 500 DAI
  • The COMP-A Debt Floor (dust) Parameter will increase from 100 DAI to 500 DAI
  • The BAL-A Debt Floor (dust) Parameter will increase from 100 DAI to 500 DAI
  • The USDT-A Debt Floor (dust) Parameter will increase from 100 DAI to 500 DAI
  • The USDC-B Debt Floor (dust) Parameter will increase from 100 DAI to 500 DAI
  • The GUSD-A Debt Floor (dust) Parameter will increase from 100 DAI to 500 DAI

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

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.


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 16:00 UTC.

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

20 November 2020