PollingExecutiveES Module

Increase ETH-A, USDC-A, PSM-USDC-A Debt Ceilings

The Governance Facilitator(s) have placed an urgent, out-of-schedule Executive Vote into the voting system on behalf of the MakerDAO mandated actors and the Maker Governance community. MKR Holders should vote for this proposal if they wish to make the following alterations to the Maker Protocol.

Increase ETH-A Debt Ceiling

Due to the recently increased usage of the ETH-A vault-type in combination with the positive response on this signal request post, the ETH-A debt ceiling will be increased from 590M to 740M if this proposal passes.

Further details can be found in this forum post.

Increase USDC-A Debt Ceiling

Due to the recently increased usage of the USDC-A vault-type and as described in this forum post, the USDC-A debt ceiling will be increased from 485M to 555M if this proposal passes.

Increase PSM-USDC-A Debt Ceiling

Due to the recently increased usage of the USDC-A vault-type and as part of the gradual move from USDC-A to USDC-PSM-A as voted by governance in this poll, the USDC-PSM-A debt ceiling will be increased from 3M to 30M if this proposal passes.

Further details can be found in this forum post.

Summary

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

  • The ETH-A Debt Ceiling will increase from 590M to 740M
  • The USDC-A Debt Ceiling will increase from 485M to 555M
  • The PSM-USDC-A Debt Ceiling will increase from 3M to 30M
  • The Global Debt Ceiling will increase by 247M

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 no longer have any 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.


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.

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