Urgent Collateral Parameter Changes
On November 15th 2022, as part of an Urgent Collateral Parameter Changes, MKR holders voted and approved different changes to the protocol. In particular, for Oasis.app users interest, the Governance decided to follow temporary emergency measures:
Decrease Debt Ceilings:
- Decrease MATIC-A Debt Ceiling from current 20M to 10M
- Decrease LINK-A Debt Ceiling from current 25M to 5M
- Decrease YFI-A Debt Ceiling from current 10M to 3M
- Decrease renBTC-A Debt Ceiling from current 10M to 0
MANA-A:
- Reduce the MANA-A Maximum Debt Ceiling (line) by 7 million DAI from 10 million DAI to 3 million DAI.
- Increase the MANA-A Stability Fee by 42.5% from 7.5% to 50%.
- Increase the MANA-A Liquidation Penalty (chop) by 17% from 13% to 30%.
You can read more details about the proposal and reasons here.
What does this mean for you?
This change will only affect you if you have a vault of one of the above mentioned types. If you own a MANA-A vault, the Stability Fee has increased significantly, please be aware of this new parameter. If you own a renBTC-A vault, no more DAI can be generated against this collateral.
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November 15, 2022
