EDSR Adjustment, Multiple Stability Fee updates.

On August 18th, 2023, MKR holders voted for significant parameter changes as part of the weekly Maker Governance Cycle; you can see the entire proposal here.

These changes are available for execution from August 20th.

DSR Adjustment

• Reduce the DSR by 3% from 8% to 5%.

Stability Fee Updates

• Increase ETH-A Stability Fee by 0.14% from 3.44% to 3.58%.
• Increase ETH-B Stability Fee by 0.14% from 3.94%% to 4.08%.
• Increase ETH-C Stability Fee by 0.14% from 3.19% to 3.33%.
• Increase WSTETH-A Stability Fee by 1.81% from 3.44% to 5.25%.
• Increase WSTETH-B Stability Fee by 1.81% from 3.19% to 5.00%.
• Increase RETH-A Stability Fee by 1.81% from 3.44% to 5.25%.
• Increase WBTC-A Stability Fee by 0.11% from 5.69% to 5.80%.
• Increase WBTC-B Stability Fee by 0.11% from 6.19% to 6.30%.
• Increase WBTC-C Stability Fee by 0.11% from 5.44% to 5.55%.

CRVV1ETHSTETH-A Second Stage Offboarding

• Reduce Liquidation Penalty (chop) by 13% from 13% to 0%.
• Reduce Flat Kick Incentive (tip) by 250 DAI from 250 DAI to 0 DAI.
• Reduce Proportional Kick Incentive (chip) by 0.1% from 0.1% to 0%.
• Increase Liquidation Ratio (mat) by 9,845% from 155% to 10,000%.
• For completeness, the Global Debt Ceiling (Line) will be reduced by 100 million DAI as part of the offboarding process for this collateral.

New Debt Ceilings for WSTETH-A, WSTETH-B and rETH-A

• Increase WSTETH-A Maximum Debt Ceiling (line) by 250 million DAI from 500 million DAI to 750 million DAI.
• Increase WSTETH-B Maximum Debt Ceiling (line) by 500 million DAi from 500 million DAI to 1 billion DAI.
• Increase RETH-A Maximum Debt Ceiling (line) by 25 million DAI from 50 million DAI to 75 million DAI.

Getting Help

If you experience any issues with your Vault or have questions regarding your Vault or Oasis Borrow, you can contact us at support@summer.fi or our Discord: https://discord.gg/summerfi