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YPP-0013.md

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Proposal

Raise the ceiling level for USDC/ETH to 1000000

Background

The ceiling (max debt) level for USDC borrowing with ETH collateral is set to 500,000 currently, while the total borrowed amount for that pair is 335,851.

Details

The updateCeiling.ts script will be used, with this input:

// Input data: baseId, ilkId, maxDebt
export const newMax: Array<[string, string, number]> = [
  [DAI, ETH, 1000000],
]

Testing

The change has been tested on a mainnet fork by running updateCeiling.ts first followed by updateCeiling.test.ts to verify that the changes were made.

alberto@alberto-laptop:~/Code/Yield/environments-v2$ npx hardhat run --network localhost scripts/operations/governance/updateCeiling/updateCeiling.ts 
Creating Typechain artifacts in directory typechain for target ethers-v5
Successfully generated Typechain artifacts!
ChainId: 1
Running on a fork, impersonating 0xC7aE076086623ecEA2450e364C838916a043F9a8
01/00: 500000 -> 1000000
Proposal: 0xa08e8c9a644018a79e7742ffd25e7a19fde2a45064456e5ced3a014dec8f6296
Proposed 0xa08e8c9a644018a79e7742ffd25e7a19fde2a45064456e5ced3a014dec8f6296
alberto@alberto-laptop:~/Code/Yield/environments-v2$ npx hardhat run --network localhost scripts/operations/governance/updateCeiling/updateCeiling.ts 
Creating Typechain artifacts in directory typechain for target ethers-v5
Successfully generated Typechain artifacts!
ChainId: 1
Running on a fork, impersonating 0xC7aE076086623ecEA2450e364C838916a043F9a8
01/00: 500000 -> 1000000
Proposal: 0xa08e8c9a644018a79e7742ffd25e7a19fde2a45064456e5ced3a014dec8f6296
Running on a fork, impersonating multisig at 0xd659565b84bcfcb23b02ee13e46cb51429f4558a
Approved 0xa08e8c9a644018a79e7742ffd25e7a19fde2a45064456e5ced3a014dec8f6296
alberto@alberto-laptop:~/Code/Yield/environments-v2$ npx hardhat run --network localhost scripts/operations/governance/updateCeiling/updateCeiling.ts 
Creating Typechain artifacts in directory typechain for target ethers-v5
Successfully generated Typechain artifacts!
ChainId: 1
Running on a fork, impersonating 0xC7aE076086623ecEA2450e364C838916a043F9a8
01/00: 500000 -> 1000000
Proposal: 0xa08e8c9a644018a79e7742ffd25e7a19fde2a45064456e5ced3a014dec8f6296
Executed 0xa08e8c9a644018a79e7742ffd25e7a19fde2a45064456e5ced3a014dec8f6296
alberto@alberto-laptop:~/Code/Yield/environments-v2$ npx hardhat run --network localhost scripts/operations/governance/updateCeiling/updateCeiling.test.ts 
Creating Typechain artifacts in directory typechain for target ethers-v5
Successfully generated Typechain artifacts!
ChainId: 1
Running on a fork, impersonating 0xC7aE076086623ecEA2450e364C838916a043F9a8
01/00 set: 1000000