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YPP-0016.md

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Proposal

Raise the ceiling level for USDC/ENS to 1000000

Background

The ceiling (max debt) level for USDC borrowing with ENS collateral is set to 500,000 currently, while the total borrowed amount for that pair is 371,541.

Details

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

// Input data: baseId, ilkId, maxDebt
export const newMax: Array<[string, string, number]> = [
  [USDC, ENS, 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/governance/updateCeiling/updateCeiling.ts --no-compile
ChainId: 1
Running on a fork, impersonating 0xC7aE076086623ecEA2450e364C838916a043F9a8
02/07: 500000 -> 1000000
Proposal: 0x487b8d7a778f65703315342280453ee90e24ccd16c2df5973943bb977418c87c
Proposed 0x487b8d7a778f65703315342280453ee90e24ccd16c2df5973943bb977418c87c
alberto@alberto-laptop:~/Code/Yield/environments-v2$ npx hardhat run --network localhost scripts/governance/updateCeiling/updateCeiling.ts --no-compile
ChainId: 1
Running on a fork, impersonating 0xC7aE076086623ecEA2450e364C838916a043F9a8
02/07: 500000 -> 1000000
Proposal: 0x487b8d7a778f65703315342280453ee90e24ccd16c2df5973943bb977418c87c
Running on a fork, impersonating multisig at 0xd659565b84bcfcb23b02ee13e46cb51429f4558a
Approved 0x487b8d7a778f65703315342280453ee90e24ccd16c2df5973943bb977418c87c
alberto@alberto-laptop:~/Code/Yield/environments-v2$ npx hardhat run --network localhost scripts/governance/updateCeiling/updateCeiling.ts --no-compile
ChainId: 1
Running on a fork, impersonating 0xC7aE076086623ecEA2450e364C838916a043F9a8
02/07: 500000 -> 1000000
Proposal: 0x487b8d7a778f65703315342280453ee90e24ccd16c2df5973943bb977418c87c
Executed 0x487b8d7a778f65703315342280453ee90e24ccd16c2df5973943bb977418c87c
alberto@alberto-laptop:~/Code/Yield/environments-v2$ npx hardhat run --network localhost scripts/governance/updateCeiling/updateCeiling.test.ts --no-compile
ChainId: 1
Running on a fork, impersonating 0xC7aE076086623ecEA2450e364C838916a043F9a8
02/07 set: 1000000