{"id":509150,"date":"2022-11-12T00:50:00","date_gmt":"2022-11-11T21:50:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/makerdao-risk-core-unit-makes-urgent-parameter-change-request-in-light-of-recent-market-events\/"},"modified":"2022-11-12T00:50:00","modified_gmt":"2022-11-11T21:50:00","slug":"makerdao-risk-core-unit-makes-urgent-parameter-change-request-in-light-of-recent-market-events","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/makerdao-risk-core-unit-makes-urgent-parameter-change-request-in-light-of-recent-market-events\/","title":{"rendered":"# MakerDAO Risk Core Unit makes urgent parameter change request in light of recent market events"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3846b102eb1\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3846b102eb1\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/makerdao-risk-core-unit-makes-urgent-parameter-change-request-in-light-of-recent-market-events\/#%E2%80%9D_MakerDAO_Risk_Core_Unit_makes_urgent_parameter_change_request_in_light_of_recent_market_events_%E2%80%9C\" >&#8221; MakerDAO Risk Core Unit makes urgent parameter change request in light of recent market events &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_MakerDAO_Risk_Core_Unit_makes_urgent_parameter_change_request_in_light_of_recent_market_events_%E2%80%9C\"><\/span>&#8221; MakerDAO Risk Core Unit makes urgent parameter change request in light of recent market events &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMTEvNDZkY2VhZmUtMDJlNS00ZWFjLWJiZDMtOTM5NzRmOGJiNjNjLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-e13e51fa>The MakerDAO Risk Core Unit, a key group within the MakerDAO governance system, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/forum.makerdao.com\/t\/urgent-signal-request-urgent-recommended-collateral-parameter-changes\/18764\">submitted<\/a> an urgent request on Nov. 11 to change collateral parameters for the decentralized autonomous organization\u2019s stablecoin, Dai (DAI).<\/p>\n<p>Primoz, a member of the Risk Core Unit team, posted the request to the MakerDAO forum.<\/p>\n<blockquote><p>\u201cIn light of recent events in the crypto ecosystem and surrounding uncertainty regarding financial stability and asset liquidity of various entities and their possible relations with token governed protocols, we are proposing following temporary emergency measures.\u201d<\/p><\/blockquote>\n<p>The message proposed that the debt ceiling for MATIC (MATIC), LINK (LINK), YFI (YFI) and renBTC vaults should be reduced by the following amounts:<\/p>\n<ul>\n<li>MATIC: from 20 million to 10 million (50%)<\/li>\n<li>LINK: from 25 million to 5 million (80%)<\/li>\n<li>YFI: from 10 million to 3 million (70%)<\/li>\n<li>renBTC: from 10 million to zero (100%)<\/li>\n<\/ul>\n<p>A separate, earlier proposal\u00a0also <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/forum.makerdao.com\/t\/mana-a-intermediate-parameter-change-proposal\/18727\">suggested<\/a> that the debt ceiling for MANA (MANA) be lowered from 10 million to 3 million.<\/p>\n<p>If the proposal passes, it will reduce the number of tokens that can be used as collateral to mint new Dai. <\/p>\n<p>Some of the tokens on this list are so close to the new debt ceiling that they will im<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">media<\/a>tely hit it or be close to hitting it should the proposal pass. For example, there is currently $14.2 million worth of MATIC backing Dai, but the proposal would lower the debt ceiling for MATIC to $10 million. This would mean that users would no longer be able to mint new Dai by depositing MATIC.<\/p>\n<p>In the proposal, Primoz sought to calm users and express that the changes may only be temporary:<\/p>\n<blockquote><p>\u201cWhen the situation becomes clearer and the environment less risky, we (@Risk-Core-Unit) or either MOMC will propose further parameter changes to adjust parameters based on the future state. While we do not necessarily want current positions to unwind, we want to limit further possible exposure.\u201d<\/p><\/blockquote>\n<p>Over the past few days, the crypto community has been rocked by the <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a> that FTX, the world\u2019s third-largest crypto exchange by volume, did not have enough liquidity to handle all customer withdrawals. This event started a contagion that has spread through the crypto market, leading many coins to have huge losses.<\/p>\n<p>MakerDAO has turned out to be the latest victim of this contagion. As the value of the collateral backing Dai has fallen, debt levels have risen too high for the comfort of the Risk Core Unit team. This may lead to lower debt ceilings and increasing frustration for borrowers who wish to mint new Dai.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"defi_newsletter\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more News articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/makerdao-risk-core-unit-makes-urgent-parameter-change-request-in-light-of-recent-market-events\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; MakerDAO Risk Core Unit makes urgent parameter change request in light of recent market events &#8220; The MakerDAO Risk Core Unit, a key group within the MakerDAO governance system, submitted an urgent request on Nov. 11 to change collateral parameters for the decentralized autonomous organization\u2019s stablecoin, Dai (DAI). Primoz, a member of the Risk&#8230;<\/p>\n","protected":false},"author":1,"featured_media":509151,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMTEvNDZkY2VhZmUtMDJlNS00ZWFjLWJiZDMtOTM5NzRmOGJiNjNjLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74894,74868,76700,4965,70473],"class_list":["post-509150","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-blockchain","tag-defi","tag-makerdao","tag-technology","tag-voting"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/509150","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=509150"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/509150\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/509151"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=509150"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=509150"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=509150"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}