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Proposal

Raise the ceiling level for USDC/ENS, DAI/ENS and DAI/ETH to 2000000

Background

The liquidity in the DAI pools has grown to allow 1M loans, and ENS has proven to be a popular collateral. After more than a month of operation, a 2M ceiling for these pairs is deemed to be safe enough.

Details

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

// Input data: baseId, ilkId, line
export const newLimits: Array<[string, string, number]> = [
  [DAI,  ETH, 2000000],
  [DAI,  ENS, 2000000],
  [USDC, ENS, 2000000],
]

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 need to generate any newer typings.
ChainId: 1
Running on a fork, impersonating 0xC7aE076086623ecEA2450e364C838916a043F9a8
01/00: 1000000 -> 2000000
01/07: 500000 -> 2000000
02/07: 1000000 -> 2000000
Proposal: 0xdf09dbe56d3d15209c423c0c8b9661455220dcdff9e9d873bb8206fa1c1404f5
Proposed 0xdf09dbe56d3d15209c423c0c8b9661455220dcdff9e9d873bb8206fa1c1404f5
alberto@alberto-laptop:~/Code/Yield/environments-v2$ npx hardhat run --network localhost scripts/governance/updateCeiling/updateCeiling.ts 
No need to generate any newer typings.
ChainId: 1
Running on a fork, impersonating 0xC7aE076086623ecEA2450e364C838916a043F9a8
01/00: 1000000 -> 2000000
01/07: 500000 -> 2000000
02/07: 1000000 -> 2000000
Proposal: 0xdf09dbe56d3d15209c423c0c8b9661455220dcdff9e9d873bb8206fa1c1404f5
Running on a fork, impersonating multisig at 0xd659565b84bcfcb23b02ee13e46cb51429f4558a
Approved 0xdf09dbe56d3d15209c423c0c8b9661455220dcdff9e9d873bb8206fa1c1404f5
alberto@alberto-laptop:~/Code/Yield/environments-v2$ npx hardhat run --network localhost scripts/governance/updateCeiling/updateCeiling.ts 
No need to generate any newer typings.
ChainId: 1
Running on a fork, impersonating 0xC7aE076086623ecEA2450e364C838916a043F9a8
01/00: 1000000 -> 2000000
01/07: 500000 -> 2000000
02/07: 1000000 -> 2000000
Proposal: 0xdf09dbe56d3d15209c423c0c8b9661455220dcdff9e9d873bb8206fa1c1404f5
Executed 0xdf09dbe56d3d15209c423c0c8b9661455220dcdff9e9d873bb8206fa1c1404f5
alberto@alberto-laptop:~/Code/Yield/environments-v2$ npx hardhat run --network localhost scripts/governance/updateCeiling/updateCeiling.test.ts 
No need to generate any newer typings.
ChainId: 1
Running on a fork, impersonating 0xC7aE076086623ecEA2450e364C838916a043F9a8
01/00 set: 2000000
01/07 set: 2000000
02/07 set: 2000000