Adjust wstETH-A System Parameters - December 06, 2021
The Governance Facilitators have placed a Governance Poll into the voting system on behalf of the MakerDAO Risk, Protocol Engineering, and Oracles Core Units. The community can vote in this poll to express support or opposition to adjusting the wstETH-A Maximum Debt parameters as detailed below.
This Governance Poll will be active for three days beginning on Monday, December 06 at 16:00 UTC.
This is a binary vote.
- You may vote for a single option.
- You should vote for the option which you prefer.
- If you would accept either option, you should vote 'Abstain'.
The five proposed adjustments to the wstETH-A vault type are as follows:
- Increase the wstETH-A Maximum Debt Ceiling (
line) from 50 million DAI to 200 million DAI.
- Increase the wstETH-A Target Available Debt (
gap) from 3 million DAI to 20 million DAI.
- Decrease the wstETH-A Debt Ceiling Increase Cooldown (
ttl) from 8 hours to 6 hours.
- Decrease the wstETH-A Auction Price Multiplier (
buf) from 1.3 to 1.2.
- Increase the wstETH-A Local Liquidation Limit (
ilk.hole) from 3 million DAI to 15 million DAI.
Please review the discussion thread to help inform your position before voting.
If the votes for the 'Yes' option exceed the votes for the 'No' option then the following actions will be taken:
- These parameter changes will be included in the weekly Executive Vote on the Friday following the conclusion of this poll.
- If the Friday executive passes, then these parameter changes will become active in the Maker Protocol after the GSM Pause Delay has expired.
If the votes for the 'No' option equal or exceed the votes for the 'Yes' option then no further action will be taken at this time.
Unsure about the Maximum Debt Ceiling, Debt Ceiling Cooldown or Target Available Debt parameters and what you should take into account when voting? Check out the parameter documentation here.
Unsure about the Auction Price Multiplier parameter and what you should take into account when voting? Check out the parameter documentation here.
Unsure about the Local Liquidation Limit parameter and what you should take into account when voting? Check out the parameter documentation here.
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.