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 the ETH-A Debt Ceiling

The Risk Domain Team is proposing this increase to the ETH-A debt ceiling due to the combination of the recent bullishness of the crypto space and the coming governance contract migration which will prevent non-emergency changes to the protocol for 1-2 weeks. Please see the linked thread to see the rationale behind the change in more detail. The ETH-A Debt Ceiling will be increased from 490 million DAI to 590 million DAI if this proposal passes.

Additionally, a community signal request was in progress for the same issue.

Summary

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

• The ETH-A Debt Ceiling will be increased from 490 million DAI to 590 million DAI.
• The Global line parameter will be increased from 1,481,750,000 DAI to 1,581,750,000 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.

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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 16:00 UTC.

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