Executive Vote: Raise the ETH-A Debt Ceiling

2 September 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.

Raise the ETH-A Debt Ceiling

As per the forum poll here, the ETH-A Debt Ceiling will be raised from 420 million to 540 million if this proposal passes. Note that this change has been expedited by the MakerDAO Risk Team due to the current and projected usage of the new yEarn ETH vault.

Summary

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

  • The ETH-A debt ceiling parameter will be increased from 420 million to 540 million.
  • The ETH-A debt ceiling increase will increase the Vat global line parameter from 588 million Dai to 708 million Dai. ...

The Executive Vote (FAQ) 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 this topic can be found on the MakerDAO governance forum.

Additionally, these changes may have been discussed further in recent Governance calls. Video and Audio 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 voter onboarding guide to learn how to use this dashboard and set up your wallet to vote.

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

2 September 2020